# SHOULD I MAKE THIS MONTH’S PAYMENTS TO MY CREDIT CARD COMPANIES? I can’t tell you not to make your payments, if you have payments due right now, you should pay them to avoid incurring late or over-the-limit fees. # WHEN IS MY FIRST MO0NTHLY PAYMENT DUE? Your first monthly payment will be due on a date that you choose. # WHY WILL I STILL RECEIVE STATEMENTS FROM MY CREDITORS? Your creditors will continue to send monthly statements to show the payments disbursed by our agency, changes in your interest rates and the balances going down. Please monitor these monthly and contact Customer Service when you have any questions about the changes. # WHAT DO I DO IF I RECEIVE A STATEMENT REFLECTING LATE CHARGES, OVER THE LIMIT FEES AND THE SAME INTEREST RATE? Keep in mind it may take 1 to 3 billing cycles before your creditors stop the late charges or lower the interest rates. However, you can contact Customer Service regarding any questions you may have so we can follow up on any issues for you. # WHAT HAPPENS IF I CAN PAY MY CREDITORS OFF IN ONE LUMP SUM, SOMETIME DOWN THE LINE? When that time comes, just call Customer Service and they will contact the creditors for the payoff balances and let you know the amount needed to pay them in full # I PLAN ON PAYING THESE OFF IN A FEW MONTHS OR / NEXT YEAR That’s good; we’ll get you enrolled today so that you can pay down your balances at reduced interest rates until you’re ready to payoff. # CAN I USE THE CREDIT CARDS I‘VE PUT INTO THE PROGRAM? While you’re in the program, these accounts will be closed. You don’t want to accumulate more debt while you’re trying to get out of debt right! # CONSOLIDATIONS vs. DEBT MANAGEMENT vs. A MORTGAGE LOAN? Most loans have to stretch out the payment terms to 10, 20 or 25 years to lower your overall monthly payment. Keep in mind mortgage loans will turn your unsecured debt into secured debt. If something happens and you can’t pay your debt due to health reasons, unemployment, etc., you run the risk of losing your home. With Debt Management, we are consolidating your bills into one low monthly payment as well as lowering your current interest rates without collateral. It just makes good sense to enroll in our debt management program. # BANKRUPTCY VS. DEBT MANAGEMENT Bankruptcy will prevent you from rebuilding your credit for a minimum of 7 years and it becomes public record. If you went through one of our Debt Management programs, you can still apply for credit and immediately begin the rebuilding process on your credit after you’re paid off. By the time Bankruptcy is over in 7 years, you could have been out of debt with our program 3 – 4 years sooner. # DOES YOUR DEBT MANAGEMENT PROGRAM HELP CLEAN UP MY CREDIT REPORT? No, however, through a consumer credit counseling program, regular monthly payments could improve your payment history and your credibility with individual creditors. # MY CREDIT IS FINE AND I HAVE NO PROBLEM PAYING MY BILLS That’s great, most people we talk to feel the same way and felt they were in great shape but after doing a debt assessment they found they can actually benefit from a program like this so what we do is a quick debt assessment to see if you even qualify. # CAN YOU MAIL ME THE PAPERWORK? Sure we can as soon as we see if you can benefit from our program. Give us a call and one of our financial management consultants will be glad to send you an email with your savings analysis. # HOW ARE YOU ABLE TO LOWER MY INTEREST RATES? Your credit card companies have already supplied us with a platform as to how low they will drop your interest rates while in Debt Management which allows more of your payment to go towards lowering your principal amount and less towards interest charges. These interest rates vary from creditor to creditor; some even go as low as 0% # HOW IS THE AMOUNT PAID TO EACH CREDITOR DETERMINED? Each creditor require a percentage of the balance each month, once the payment amount is approved it stays the same until the balance is paid off. # CAN YOU HELP ME LOWER MY SECURED PAYMENTS? Unfortunately, we can only accept unsecured debt into our program # WHAT TYPE OF DEBT IS ELIGIBLE? Credit Cards, department store cards, collection accounts, charge offs and any other unsecured debt # MY CREDITORS ARE STILL CALLING ME, WHAT SHOULD I DO? Let them know you are enrolled in one of our debt management programs. Keep in mind the process of negotiations can take up to 3 months. # CAN LEGAL ACTIONS & PHONE CALLS BE STOPPED? In the majority of cases, we are able to work with the creditors toward a positive resolution that will satisfy everyone and hopefully stop any legal action. The majority of phone calls from creditor’s cease as long as the client maintains their payment arrangements through the program. 1st Financial Group is a financial services organization dedicated to providing professional debt management programs to those in need nationwide. 1st financial group is committed to providing consumer with tools and solutions they need to achieve financial freedom and enjoy life again! 1st Financial Group has over 20 years of collective experience with the financial industry, and works very hard at maintaining the absolute highest standards for our clients. First Financial Group is a member of national association for debt management and credit counseling industry.