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Frequently
Asked Questions
Debt Consolidation
Q. When does National Debt Adjusters begin settling my
debt?
A. Once you have fully retained our services, your
creditors will be notified immediately and National Debt
Adjusters will begin negotiations. However we can only
settle a debt once the full funds are available.
Q.
If I miss a monthly payment to National Debt Adjusters, will
I be dropped from your program?
A. No. Simply call our customer service department
seven (7) business days prior to your debit date and our
customer service department will make alternative
arrangements with you. It is understandable that
circumstances may arise and we will help you get back on
track with your payment schedule.
Q.
How do I find out the progress of my Debt Consolidation?
A. You can call our customer care department at
866-626-4718 Monday thru Thursday from 9:00am to 6:00pm,
Friday from 9:00am to 5:00pm Eastern Standard Time to speak
with a representative. You will also receive statements that
will keep you informed of the status of your account upon
request to the customer care department.
Q.
Will my creditor call me at work?
A. They may attempt to contact you at work, however,
once you verbally ask them to refrain from calling you at
work, they are obligated to cease.
Q.
Will my creditors continue to contact me by mail?
A. Your creditors may also attempt to correspond with
you by mail, this is allowed. Feel free to forward any
correspondence and statements to our office as well.
Q.
Why should I use National Debt Adjusters to settle my debts
instead of handling it
myself?
A. Our team has extensive experience in negotiating
debt working with creditors. We have an impeccable
relationship with creditors and collection agencies, who are
usually unwavering in negotiating with the consumer
directly. Our team has extensive knowledge in consumer debt
and the Fair Credit Reporting Act.
Q.
Who do I call if I have a question about the program or
problem with a creditor?
A. You will talk directly with our customer service
department at 866-782-3328 and any representative will have
access to your file.
Q.
Do I have to include all of my creditors into the program
for settlement?
A. No. We recommend that you keep open at least one
credit card. Any accounts that are included in the
settlement will have to be closed immediately. Creditors
won’t settlement accounts that are still
open. You should keep one credit card open for emergency
use only. Please be sure that the card you keep out of
the program does not have same issuing banks as any included
in the program. (This will negatively affect our negotiating
power).
Q.
How long will it take for me to settle my debt?
A. It typically takes about 12-48 months, including
all fees... However, it could be much sooner depending on
your individual program.
Q. How
much does this program cost?
A.
Our Debt Consolidation Program costs are based on percentage of
your total debt. Your monthly payment will de determined by
what you can comfortably afford, and is based upon your
level of debt, income, and living expenses.
Q.
Will National Debt Adjusters stop late fees and interest
from accruing on my accounts?
A. National Debt Adjusters cannot stop a creditor from
adding interest or late fees to an account. However, your
individual program will reflect those fees and/or interest,
and is incorporated into the settlement. Because we
negotiate the debt down to a fraction of what you owe, your
saving are far greater than any interest or late fees that
could accrue.
 How
do I pay for these settlements, how does it work?
We work out a monthly amount that each client can afford to
pay. That amount is electronically debited from their
personal bank account and deposited into their "settlement
account" at a federally insured bank on the date (s) they
work out with our Debt Consultants.
When the client has accumulated enough money to cover the
settlement and our fee, we contact one of the creditors and
make them an offer. Offers are submitted until both the
client and the creditor agree on the amount. We then get the
client's written or electronic approval on the total
settlement (including fees). Upon receipt of the client
approval, the bank will release the funds necessary to cover
the total settlement (including fees). Once this settlement
is paid, the client will begin the accumulation of funds in
their settlement account and the process will repeat as
money becomes available for the next settlement. We continue
in this way until all of the accounts are settled.
It is important to note that we do not make any monthly
payments to the creditors and we cannot pay for a settlement
without our client's written or electronic approval.
Our primary thrust is to help our clients get out of debt as
quickly as possible
and to get
firmly back on their financial feet. Credit, while a very
important thing to have and maintain, is of secondary
importance to getting your debt under control and becoming
financially solvent. Most people think if they have stayed
current on their payments then they have good credit. In
cases where the debt is more than a person can afford, then
their credit has been used up and they are no longer really
credit worthy in the eyes of most lenders. At the end of our
program, your debt-to-income ratio will be greatly improved
and you will once again be able to build really good credit
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