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How does your service work?
Absolute Debt Solutions helps people who are experiencing financial difficulty. Our program is perfect for those who wish to take care of their delinquent accounts but lack the financial means necessary to pay them in full. We communicate directly with your creditors to achieve a reduced settlement on the particular accounts that you specify. The goal is to help you settle your delinquent
accounts for significantly less, creating a more manageable financial situation.
How will my credit report be affected?
Absolute Debt Solutions will generally only negotiate on your delinquent accounts . Since the accounts that we settle are delinquent, settling them is far better than filing bankruptcy or not taking care of them at all. After a settlement has been completed your creditor is to report that your account has been settled and now has a zero balance. In addition to skilled negotiations, our Brother Company “Absolute Credit Repair Inc.” can assist with credit restoration. Any time you pay less than what the original contract called to be paid your credit can and in most cases will be affected.
How much of a reduction should I expect?
Absolute Debt Solutions can achieve settlements in the 30-60% range. A good example being that you have an account with a $10,000 balance. Absolute Debt Solutions can generally obtain a settlement ranging from $3,000 to $6,000.00 to settle the account.
Will I still receive harassing phone calls from my creditors?
You may. In most cases a creditors and collectors only way to collect is to call or write. This can become bothersome, and is not much fun. Most settlement companies send letters to try and stop the calls. Those consumers are, in most cases then sued as the bank has no other way to communicate. We engage creditors based on the consumers best interest. Having this in mind, settlement percents go up with lawsuits. Our goal is to save you money and will aggressively combat abusive creditors when needed and on an individual basis.
What types of debts can be settled?
We can attempt to settle any type of unsecured account. Unsecured represents any account that you have that is not secured with collateral or lien. Such accounts being medical, credit card, installments, lines of credit, legal bills, collections, deficiency balances on repossessed cars, or even deficiency balances on foreclosures.
How long does the process take?
The process can take a week to 36 months, and depends on your personal financial resources. Should a longer term be needed, a client will be placed on a set and structured savings schedule in order to save for debt settlement.
What are the upfront fees to Absolute Debt Solutions?
THERE ARE NO UPFRONT OR MONTHLY FEES
What are the potential tax obligations for settling my debts?
Expect your creditor's to send a 1099c for the amount of the difference between your balance and what they agreed to settle for. Fortunately there is an insolvency form that you or your accountant can provide to the IRS when filing your return. This insolvency form acts as a worksheet for your overall debt versus your overall assets. If you have more debt than you do assets you will be considered insolvent and not liable for any taxes. We encourage you to inquire with a professional accountant in reference to your situation. For additional reference to the insolvency exemption please see the instruction sheet for a 1099c. You can find this at www.IRS.gov.
For Texas Consumers with this question or other tax related questions visit our tax expert, John P. Graves, CPA at
www.JohnPGravescpa.com . He can be reached at
1-940-565-1040
502 North Locust
Denton, TX 76201
Will the creditors offer me settlements around Absolute Debt Solutions?
Most likely. However, they should not be trusted as their letters are not, in most cases do not fully resolve your problem. Absolute requires the creditors letters to say things that have “YOUR BEST INTEREST” in mind, not theirs. Because of this, it is required that “all” communication be sent to us for safe keeping, accountability, communication and accountability.
How much debt do have to have to qualify for your program?
Because our fee is service based and not based on your total debt we can accept most all situations.
CONTACT US NOW FOR YOUR FREE CONFIDENTIAL CONSULTATION TOLL FREE (877-DEBT-303)
Absolute Debt Solutions helps people who are experiencing financial difficulty. Our program is perfect for those who wish to take care of their delinquent accounts but lack the financial means necessary to pay them in full. We communicate directly with your creditors to achieve a reduced settlement on the particular accounts that you specify. The goal is to help you settle your delinquent
accounts for significantly less, creating a more manageable financial situation. How will my credit report be affected?
Absolute Debt Solutions will generally only negotiate on your delinquent accounts . Since the accounts that we settle are delinquent, settling them is far better than filing bankruptcy or not taking care of them at all. After a settlement has been completed your creditor is to report that your account has been settled and now has a zero balance. In addition to skilled negotiations, our Brother Company “Absolute Credit Repair Inc.” can assist with credit restoration. Any time you pay less than what the original contract called to be paid your credit can and in most cases will be affected.
How much of a reduction should I expect?
Absolute Debt Solutions can achieve settlements in the 30-60% range. A good example being that you have an account with a $10,000 balance. Absolute Debt Solutions can generally obtain a settlement ranging from $3,000 to $6,000.00 to settle the account.
Will I still receive harassing phone calls from my creditors?You may. In most cases a creditors and collectors only way to collect is to call or write. This can become bothersome, and is not much fun. Most settlement companies send letters to try and stop the calls. Those consumers are, in most cases then sued as the bank has no other way to communicate. We engage creditors based on the consumers best interest. Having this in mind, settlement percents go up with lawsuits. Our goal is to save you money and will aggressively combat abusive creditors when needed and on an individual basis.
What types of debts can be settled?
We can attempt to settle any type of unsecured account. Unsecured represents any account that you have that is not secured with collateral or lien. Such accounts being medical, credit card, installments, lines of credit, legal bills, collections, deficiency balances on repossessed cars, or even deficiency balances on foreclosures.
How long does the process take?
The process can take a week to 36 months, and depends on your personal financial resources. Should a longer term be needed, a client will be placed on a set and structured savings schedule in order to save for debt settlement.
What are the upfront fees to Absolute Debt Solutions?
THERE ARE NO UPFRONT OR MONTHLY FEES
What are the potential tax obligations for settling my debts?
Expect your creditor's to send a 1099c for the amount of the difference between your balance and what they agreed to settle for. Fortunately there is an insolvency form that you or your accountant can provide to the IRS when filing your return. This insolvency form acts as a worksheet for your overall debt versus your overall assets. If you have more debt than you do assets you will be considered insolvent and not liable for any taxes. We encourage you to inquire with a professional accountant in reference to your situation. For additional reference to the insolvency exemption please see the instruction sheet for a 1099c. You can find this at www.IRS.gov.
For Texas Consumers with this question or other tax related questions visit our tax expert, John P. Graves, CPA at
www.JohnPGravescpa.com . He can be reached at
1-940-565-1040
502 North Locust
Denton, TX 76201
Will the creditors offer me settlements around Absolute Debt Solutions?
Most likely. However, they should not be trusted as their letters are not, in most cases do not fully resolve your problem. Absolute requires the creditors letters to say things that have “YOUR BEST INTEREST” in mind, not theirs. Because of this, it is required that “all” communication be sent to us for safe keeping, accountability, communication and accountability.
How much debt do have to have to qualify for your program?
Because our fee is service based and not based on your total debt we can accept most all situations.
CONTACT US NOW FOR YOUR FREE CONFIDENTIAL CONSULTATION TOLL FREE (877-DEBT-303)