Q. Is debt settlement the same as debt consolidation?
A. No. In debt consolidation programs, the debt consolidator makes one loan to you to pay off all your debts. You are charged interest on this debt consolidation loan and in some cases you are still required to pay interest to your creditors. As a result, with debt consolidation your principal debt balance remains the same and you remain years away from becoming debt free. With National Debt Arbitration's debt settlement program, our highly skilled negotiators work on your behalf to significantly reduce your debt. In most cases, our debt settlement program allows you to pay only a fraction of what you owe and helps you resolve your debt within 9 to 24 months, and often sooner.

Q. How long does National Debt Arbitration's debt settlement program take?
A. Because we allow payments based on "your ability to pay", the length of time it takes to complete the debt settlement program varies.  depending upon your ability to acquire the funds necessary to resolve your debt. Typically, we settle most of our cases in 9 to 24 months. For information about how long it will take for our debt settlement program to resolve your debt, call 1-800-504-2819 for a free consultation.

Q. How will debt settlement affect my credit?
A. Debt settlement is a bankruptcy prevention program. As such, it may adversely affect your credit rating if your debts are current and you have no history of late payments. However, National Debt Arbitration's debt settlement program will improve your debt to income ratio and may therefore improve that portion of your credit score. Since you will have resolved your outstanding debt through our debt settlement program your future creditors will see that you settled your debts instead of filing bankruptcy. This is an opportunity to improve your score by paying down "bad debt". 

Q. Does National Debt Arbitration keep my information confidential?
A. Absolutely. National Debt Arbitration and affiliated firms maintain your confidentiality at all times and are bound by "Rules of Professional Conduct." We only disclose information to those persons that you have authorized. All creditors that you have contracted us to settle with on your behalf will be contacted by us and advised that you have retained our services representing  you.

Q. Do I have to be delinquent with my debts to be eligible for your debt settlement program?
A. No. National Debt Arbitration's debt settlement program works with debtors in all stages of collection.

Q. How do I get approved for your debt settlement program?
A. National Debt Arbitration is not for everyone and everyone is not for us. If you are in debt, employed, and serious about resolving your debt, you should take the first step and contact us for a free consultation. We will advise you of your acceptance into the debt settlement program and/or other options available to you.

Q. How much does the debt settlement program cost?
A. The fees for each debt settlement case vary based on the complexity of your financial situation and our efforts required to assist you to zero debt. While we do charge a nominal fee for our debt settlement services, National Debt Arbitration will ultimately save you money as we allow you to settle your debt for a fraction of the original balance. Typically, even with all fees included, debts can be settled for 65% or less than you owe today. For more detailed information about our debt settlement program fees please call 1-800-504-2819.

Q. Does the debt settlement program work for all of my creditors?
A. No firm can guarantee that every creditor will accept an offer to satisfy your outstanding debt. National Debt Arbitration has years of experience settling millions of dollars of debt, and we have built our reputation and integrity by only accepting cases that we can resolve for a fraction of the original debt. For more details on what you can expect from our debt settlement program, click here for a free consultation.

Q. Do I have to include all of my debts in the debt settlement program or can I choose only the ones I would like you to resolve?
A. With our debt settlement program you can select which accounts you would like us to settle for you. This will be discussed during your free consultation.

Q. Will all of my debt be eliminated when I finish the debt settlement program?
A. When you follow all of our debt settlement procedures you can expect to have zero balances on all unsecured accounts that you've contracted National Debt Arbitration to resolve. You will still be responsible for your secured debts i.e. mortgages, auto loans, etc. and unsecured debts that you did not retain us to settle.

Q. What can I expect as a result of your debt settlement program?
A. You can expect a substantial reduction in what you owe to your creditors. While each case is different and results vary, the National Debt Arbitration debt settlement program typically settles client debts for 25% to 50 % of the balances owed.

Q. How does debt settlement compare to bankruptcy?
A. Bankruptcy was designed to be your last resort and has a devastating effect on your credit rating that lasts for seven to ten years. Debt settlement is a bankruptcy prevention program that provides you with financial freedom without the long-term effects that come with bankruptcy.

Q. Are your debt settlement services guaranteed?
A. National Debt Arbitration cannot offer a 100% guarantee that our debt settlement services will work for you. That said, before we accept your case we will perform a thorough analysis of your cash flow and debts. When we can help you with our debt settlement program we will, and if we don't think we can help you, we won't accept you into our debt settlement program. National Debt Arbitration has settled millions of dollars of consumer debt and our reputation and integrity have been established by a great success rate.

Q. How can I be sure the debt settlement program will work?
A. National Debt Arbitration takes great pride in, and our reputation is built on, getting our clients out of debt and helping them avoid bankruptcy and debt consolidation. After analyzing your financial situation you will either be accepted into the debt settlement program or we will advise you of your best options. This will be discussed with you during your free consultation.

Q. What is the difference between unsecured debt and secured debt?
A. Unsecured debt generally arises out of a contract entered into with a creditor that enables you to obtain goods and services on credit in exchange for your promise to repay the creditor. Credit cards, medical loans, and personal loans are the most common types of unsecured debts. If you are delinquent with this type of debt the only recourse the lender has is legal action. A secured debt is a loan where the creditor retains a security interest in your property such as a house or an automobile. If you fall behind on payments with this type of debt the lender has the ability to repossess the property in order to mitigate their damages. If your property is repossessed and sold you remain liable for any deficiency balance that remains after the sale. Certain exceptions apply depending on the nature of the security interest. The laws regarding home mortgages vary from state to state and the lenders' rights usually depend on the terms of the mortgage and whether any other lenders have an interest in the real property. In these situations it is important to seek legal advice to protect your interests.

Q. Does secured debt ever become unsecured debt?
A. A secured debt may become an unsecured debt in situations where the property securing the loan has already been repossessed and sold by the creditor. If the sale of the property does not meet the contractual obligation the consumer owes a deficiency balance. This deficiency becomes an unsecured debt. Certain exceptions may apply and will depend on the security interest.

Q. Will I continue to get calls and collection letters from my creditors?
A. Once you are accepted into the debt settlement program we will provide your creditors with the appropriate correspondence that will keep them from calling you; however, there is no law that prevents creditors from sending written correspondence to you. Do not be afraid to read these letters. In fact, it is important that you read each letter carefully as you are certain to get settlement offers from your creditors as a result of your admittance to our debt settlement program. These settlement letters and any other letter of concern should be forwarded to the National Debt Arbitration's Client Relations Department.

Q. Will National Debt Arbitration contact all of my creditors on my behalf?
A. Yes. Once you are accepted into our debt settlement program we will send a letter to each of your creditors advising them that you have retained our firm to represent you. We will demand that they cease all communication with you and that all future correspondence be directed to our office on your behalf.

Q. Will interest charges continue to accrue on my debts while I'm completing the debt settlement program?
A. Yes. However as a practical matter, in most cases the National Debt Arbitration's skilled negotiators will get your creditors to remove these charges while significantly reducing your principle balance as well.