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What fees are included in the program?

Our fee is typically roughly 25% of the debt that you enrolled at the time you enrolled. Remember: no fees are collected up front. We don’t collect anything until we render service and until the payment is made to the creditor, then DebtBlue will collect its fee but only for that resolved account. In addition […]

Can I negotiate with creditors myself?

Absolutely. And many of our clients have reached resolutions directly with creditors. However, we compare this with representing yourself in court. It’s highly advisable that you have a lawyer with you. The one that thing we stress when it comes to doing debt resolution on your own is this: You have to make sure that […]

Are debt resolution programs legitimate?

Simply put: Yes. Debt resolution companies are required to be licensed, bonded and registered in every state in which they work and are also fully federally regulated. This is how you can tell whether a debt resolution company is legitimate or not: If a debt resolution company charges you fees upfront, it is not a […]

How long is this going to take?

Our typical program length is about 32 months, and our typical client will graduate about a month or two early from their program. Actual dates depend on whether you have had any changes to your program or if anything has changed with your participation in depositing funds in your special purpose savings account. So the […]

How do I handle creditor/collection calls?

This is one of the most negative effects of a debt resolution program: creditor calls. Anytime you owe somebody money, they have the right to call you. However, there are many laws and statutes regarding how creditors can collect and when they can make those phone calls. This includes what time, what they can ask […]

Will this impact my taxes?

The short answer is no. However, can you be taxed for the forgiveness of debt? Yes. And that’s done with a Form 1099. The IRS views debt forgiveness like this: If somebody writes off a portion of your debt, then you have to declare that as income. You have to declare that as 1099 income […]

Why aren’t you making payments to my creditors?

You need to understand that Debt Resolution is not a loan program. And the only way a creditor is going to be willing to take less than what they are owed or reduce and eliminate part of the principal, is this: The creditor must have a reason to do so. If you’re continuing to make […]

What if I get sued?

DebtBlue refers to creditors that threaten legal action as a “priority account.” Think of it as a creditor trying to skip the line… like somebody’s getting a Fast Pass at an amusement park, saying “Hey, I don’t want to wait in line… I want to go straight to the front, so I’m going to take […]

Will this hurt my credit score?

So, let’s begin this answer by asking, “What is your credit score today?” Obviously, if you are a top borrower with a credit score of 750-850, debt resolution is going to have a negative effect on your credit. However, our typical client has a credit score of about 620. And many times, we consider between […]