Frequently Asked Questions

 

Q.  When does ADF begin settling my debt?

A.  Once you have fully retained our services, your creditors will be notified immediately and ADF will begin negotiations. However we can only settle a debt once the full funds are available.

 Q.  If I miss a monthly payment to ADF, will I be dropped from your program?

A.  No. Simply call our customer service department seven (7) business days prior to your debit date and our customer service department will make alternative arrangements with you. It is understandable that circumstances may arise and we will help you get back on track with your payment schedule.

 Q.  How do I find out the progress of my debt settlement?

A.  You can call our customer care department at 866-626-4718 Monday thru Thursday from 9:00am to 6:00pm, Friday from 9:00am to 5:00pm Eastern Standard Time to speak with a representative. You will also receive statements that will keep you informed of the status of your account upon request to the customer care department.

 Q.  Will my creditor call me at work?

A.  They may attempt to contact you at work, however, once you verbally ask them to refrain from calling you at work, they are obligated to cease.

 Q.  Will my creditors continue to contact me by mail?

A.  Your creditors may also attempt to correspond with you by mail, this is allowed. Feel free to forward any correspondence and statements to our office as well.

 Q.  Why should I use ADF to settle my debts instead of handling it

myself?

A.  Our team has extensive experience in negotiating debt working with creditors. We have an impeccable relationship with creditors and collection agencies, who are usually unwavering in negotiating with the consumer directly. Our team has extensive knowledge in consumer debt and the Fair Credit Reporting Act.

 Q. Who do I call if I have a question about the program or problem with a creditor?

A.  You will talk directly with our customer service department at 866-626-4718 and any representative will have access to your file.

 Q.  Do I have to include all of my creditors into the program for settlement?

A.  No. We recommend that you keep open at least one credit card. Any accounts that are included in the settlement will have to be closed immediately. Creditors won’t settlement accounts that are still open. You should keep one credit card open for emergency use only. Please be sure that the card you keep out of the program does not have same issuing banks as any included in the program. (This will negatively affect our negotiating power).

 Q.  How long will it take for me to settle my debt?

A.  It typically takes about 12-48 months, including all fees... However, it could be much sooner depending on your individual program.

 Q.  How much does this program cost?

A.  Our Debt Settlement Program costs are based on percentage of your total debt. Your monthly payment will de determined by what you can comfortably afford, and is based upon your level of debt, income, and living expenses.

  Q.  Will ADF stop late fees and interest from accruing on my accounts?

A.  ADF cannot stop a creditor from adding interest or late fees to an account. However, your individual program will reflect those fees and/or interest, and is incorporated into the settlement. Because we negotiate the debt down to a fraction of what you owe, your saving are far greater than any interest or late fees that could accrue.

 

How do I pay for these settlements, how does it work?
We work out a monthly amount that each client can afford to pay. That amount is electronically debited from their personal bank account and deposited into their "settlement account" at a federally insured bank on the date (s) they work out with our Debt Consultants.

When the client has accumulated enough money to cover the settlement and our fee, we contact one of the creditors and make them an offer. Offers are submitted until both the client and the creditor agree on the amount. We then get the client's written or electronic approval on the total settlement (including fees). Upon receipt of the client approval, the bank will release the funds necessary to cover the total settlement (including fees). Once this settlement is paid, the client will begin the accumulation of funds in their settlement account and the process will repeat as money becomes available for the next settlement. We continue in this way until all of the accounts are settled.

It is important to note that we do not make any monthly payments to the creditors and we cannot pay for a settlement without our client's written or electronic approval.

Our primary thrust is to help our clients get out of debt as quickly as possible and to get firmly back on their financial feet. Credit, while a very important thing to have and maintain, is of secondary importance to getting your debt under control and becoming financially solvent. Most people think if they have stayed current on their payments then they have good credit. In cases where the debt is more than a person can afford, then their credit has been used up and they are no longer really credit worthy in the eyes of most lenders. At the end of our program, your debt-to-income ratio will be greatly improved and you will once again be able to build really good credit