FAQ’s

Q What Debts Qualify For Debt Settlement Program?
A Credit Cards – Minimum $5,000 - Dept Store Cards, Medical Bills, Unsecured Personal Loans, Collections, Judgments, Repossessions

Q What Debts Qualify For Split Payment/Biweekly Program?
A 1st and 2nd and Adjustable Mortgages, Commercial, Residential, Auto and Mobile Home Loans – no credit check, income verification or qualification.

Q Who Can Enroll?
A Anyone who is financially struggling, contemplating bankruptcy or been late and unable to make their minimum monthly payments to their creditors; and have a high or low debt-to-income ratio.

Q How Much Does It Cost To Get Started?
A Approximately 60 cents on the dollar for the total amount of unsecured debt enrolled in the debt settlement program – includes all retainer, monthly maintenance, program and settlement fees.
Your monthly commitment will be about 2% of the total enrolled debt amount for the next 30 months.

Q How Do I Get Started?
A Fill out the Confidential Questionnaire, email, fax or mail it to S.H.O.C. You will Go through quality control to make sure you understand exactly what is expected of you for the next 20 or 30 months. Your creditors are notified that you’re being represented by Preferred Financial Solutions (PFS) and the mediation begins.

Q Do I Continue To Communicate With My Creditors?
A No, you will receive a few telephone response cards once you receive your client package so you will know exactly what to say each and every time one of your creditors call you to reduce and eliminate future calls from your creditors.

Q Will Creditors Contact Me At Work?
A Maybe. If they do, ALWAYS use your telephone response card to reduce and eliminate future calls. Federal and State laws prohibit Creditors/Collectors from contacting you at work. Let them know that your employer prohibits these calls.

Q Will I Still Continue To Get Monthly Statements From My Creditors?
A Most likely yes. However, creditors are directed to communicate with PFS.

Q Will The Program Stop Interest and Late Fees?
A No! However, your debt is being settled for 60 cents on the dollar (all cost, interest, late fees, etc. included) at settlement and you’re out of debt in 30 months.

Q Why Can’t I Negotiate Directly With My Creditors Myself?
A You cannot get the lowest settlement offer than our trained debt mediators can. They use the power of leverage in packaging up hundreds of other accounts pooled with yours to get the lowest settlement possible.

Q Who Holds My Money and Is It Safe?
A All client funds are held in an insured independent 3rd party trust. We never touch your money. It goes directly in your trust account. Your money is safe and never at risk. 

Q Can I Add More Money In Addition To My Monthly Commitment?
A Absolutely! We encourage it, so that you can expedite your debt elimination program a lot sooner.

Contact us if you still have a question unanswered here!