Premier Debt Solutions F.A.Q.

At Premier Debt Solutions we understand there is a lot of confusion and many misconceptions, about what debt settlement is, and what it can do for someone with debt problems.

Below you will find many of the most common questions we are asked about our debt settlement services.

Q: Who is eligible for a Debt Settlement program

A: We primarily work with consumers or businesses who are in a state of financial hardship. A "hardship" could be any number of financially damaging events, including job loss, or reduced income due to a divorce, severe medical bills, or a number of other circumstances that has caused someone to end up too much debt, and therefore has become unable to pay his/her bills.

Q: What debts ARE eligible for the program?

A: The following unsecured debts are eligible for our debt settlement program.

• All unsecured credit card debt (involving no cross collateralization)
• Signature loans and lines of credit (involving no cross collateralization)
• Medical bills above $1,000.00 that are in collections
• Cell phones above $750.00 that are in collections
• Apartment rent (re-letting fees), repossessions that are in collections

Q: What debts ARE NOT eligible for the program?

A: The following unsecured debts are NOT eligible for our debt settlement program.

• Bank overdraft accounts or lines of credit used for overdraft protection.
• Any type of Student loan - This applies even if the loan was paid off with a creditcard or is now owned by a different bank or collection agency
• Military Star Cards (even if the person is retired military)
• Utility bills (includes local telephone bills)
• Credit Cards tied to a bank where the client's mortgage or personal bank account resides (cross collateralization)
• Payday Loans
• Credit Unions
• Secured debts such as:

- Vehicles
- Boats
- Motorcycles (even if the above have been paid off with
  a separate credit card)
- Home Equity loans

Q: How long will it take to become Debt Free?

A: Typically, our average client will become debt free in just 12-30 months. The time it takes to eliminate your debts is primarily depends on your specific financial situation. The more money you can save each month, the faster you will be able to pay off your debts and be debt free. Some of our clients are able to become completely debt free in just 8-12 months! Every situation is different and we will be happy to discuss this with you during your free phone consultation.

Q: How does Premier Debt Solutions reduce my debt?

A: Our debt processing company was founded by an attorney who previously represented these same creditors, and who is now using his insider knowledge to help you settle your debts. Settlements are made through a series of negotiations with the creditors to arrange for your debts to be reduced by substantial amounts. Since we have helped so many people reduce their consumer debt, we have the experience to negotiate the best possible deal for every one of our clients. We typically arrange settlements for about 40-50 cents on the dollar.

Q: How much does Premier Debt Solutions charge?

A: Our fees are 15% of the total amount of debt that you enroll in the program. Because we are able to negoatiate settlements as low as 40%, this means that when your savings could be as much as 45 cents on the dollar, including our fees. It is also important to understand that we are working for you and not your creditors, and it is our job to try and save you the most amount of money possible.