Q: How does the program work?

A. If you regularly pay monthly minimums with high interest rates, it could take 30 – 40 years to pay off your debts. Or maybe, you had a decrease in income, disability, or lost a job; you are likely already behind on payments or cannot afford to stay current due to a financial hardship. Our certified debt negotiators will negotiate with your creditors on your behalf, not on your creditor’s behalf as is the case with credit counseling. MDS gives you an alternative to bankruptcy and a solution to your unmanageably increasing debt due to high interest rate. So how does settlement work?

• MDS establishes an affordable monthly savings plan for you in order to obtain settlements with your creditors.

• That amount is electronically debited from your personal bank account and deposited into your "settlement account" at a federally insured bank on the date (s) you work out with our settlement coach.

• When you have accumulated enough money to cover the settlement, we contact one of the creditors and make them an offer. Offers are submitted until both you and the creditor agree on the amount. Once agreed, you will make the payment to the creditor. Once this settlement is paid, you will begin the accumulation of funds in your settlement savings account and the process will repeat as money becomes available for the next settlement. We continue in this way until all of your accounts are settled.

It is important to note that we do not make any monthly payments to the creditors.

• The settlement process in our program typically takes about 36 months or less. MDS has assembled an impressive team of dedicated individuals who work with one common goal… to save you money.

• As a new client, MDS will educate YOU on how to handle creditor calls and communications. MDS will contact creditors when it is the most appropriate time to get the best settlement for you.

• Our expert certified debt negotiators are paid bonuses based upon lower settlement percentages. That means the better settlement they arrange for you, the more compensation they receive. This ensures the settlement team is working directly for YOU and not the creditors. As a result, the absolute best settlement deals are achieved with your best interest in mind.

 

Back>