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Do I need to continue sending payments to my creditors after I have signed up with Boston Debt Solutions? |
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 NO - You will be saving money on a monthly basis to settle each debt so you will no longer be sending a payment directly to your creditors.
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How long does each settlement through Boston Debt Solutions take? |
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Settlement times vary, as it depends on how quickly you can accumulate funds in your account so that we can make a reasonable settlement offer to your creditors.
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How will my creditors know I have joined a Debt Settlement Program? |
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Upon receiving your signed agreement and first payment we will be forwarding each creditor a limited power of attorney to alert them that they can communicate directly with Boston Debt Solutions regarding your account. We generally speak with many of them once you have accumulated some money in your savings account to establish an approximate settlement amount and time table.
If you are receiving collection calls, be sure to contact us so we can get another cease and desist letter out to that particular collection agency in an attempt to stop the calls and communicate directly with us. |
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When should I expect to see benefits on my creditor statements? |
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Creditor benefits are based on consistent and sufficient payments throughout the duration of the program. However, after receipt of three consecutive, sufficient payments, your creditors begin to recognize your commitment to the program and may offer benefits which include: acceptance of the proposed payment amount, a reduced interest rate, elimination of late fees and penalties, and bringing a past due account to a current status. If you believe, after reviewing your fourth creditor statement, that you are not receiving benefits, you can contact our Client Services Department to discuss the benefits offered by each of your creditors. To assist you, please have your statement available.
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Can I change my payment date? |
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Although you are able to adjust your payment date at any time, we suggest you avoid doing this as it will most certainly delay your program and could cause your creditors to become more aggressive if we cannot reach a settlement within a reasonable time.
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Will I receive a monthly statement? |
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You will have direct access to your individual savings account which will detail all of the monthly activity in that account including payments and any settlements that are processed.
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What should I do if I am able to increase my monthly payment? |
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You are encouraged to increase your payments whenever possible. Your payment can be increased for only one payment, or permanently. This will accelerate the time it takes you to settle the debt.
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What happens if I do not include all of my credit cards on the program with Boston Debt Solutions? |
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It is recommended that you include all of your cards on the program and those accounts will be closed or inactivated. If you do not include all of your accounts it will be your responsibility to pay those creditors directly.
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How does enrolling in a Debt Settlement Program show on my credit profile? |
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You should be aware that your creditors might show a debt as “paid as agreed” which means that the debt was settled and NOT paid in full, however we request that every creditor does not report this activity and often if they do it may only show as “settled in full.
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How can I reach you once I'm enrolled on the program? |
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You can access and make changes to your account by calling 800-913-0121.
Client Services Representatives are available to assist you Monday through Friday 9am to 7pm, Eastern Standard Time.
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