Illinois Debt Relief Program Benefits:
- Your monthly payments get consolidated into one reduced monthly payment. How your monthly payment gets allocated, depends on if you join a debt settlement, debt validation, debt consolidation or consumer credit counseling program.
- The time-frame that it takes to become debt free gets reduced with all of the Illinois debt relief programs currently available in 2018.
- The debt relief company takes over communications with your creditors, giving you immediate relief.
- If creditor fraud and harassment are spotted while enrolled on a debt relief program, these violations will be dealt with in the most efficient manner when you have a reputable Illinois debt relief company working on your behalf.
To find out if you qualify for an Illinois debt relief, settlement or consolidation program, simply call Toll-Free (866) 376-9846. (IAPDA Certified debt relief counselors are available Monday – Friday, from 8 am – 8 pm)
Summary of Illinois Debt Relief Programs
Illinois debt relief programs can resolve credit cards, student loans, medical bills, financial loans, bank loans, debt collection accounts and store cards. Golden Financial Services works with the top debt relief companies and specialized debt relief attorneys across the nation.
Make a quick call and learn your options.
We’ve already done the research for you.
Call for Illinois Debt Relief Eligibility 866-376-9846
At Golden Financial Services; Illinois debt relief, consolidation, and settlement services have been assisting consumers for over fifteen years now.
We are your one-stop shop for debt relief. Illinois residents can speak to an IAPDA Certified debt relief expert for FREE and learn about all of the different programs that are available in the state of Illinois.
Debt Validation in Illinois
Before you pay a debt collection company, use debt validation to make sure that they are legitimate and abiding by the laws.
Debt validation is when you dispute a debt.
If your original creditor sold your debt to an unscrupulous debt collection company, we will find out after disputing the debt and seeing if the debt collection company can validate it.
At the very least, debt validation can be used to give you time, but in many cases, debt collection companies can’t validate the debt — and you may not have to pay it!
When we say “validate,” we are referring to; Provide the necessary documents to prove the debt collector can legally collect on an alleged debt.
Examples of what debt validation can require debt collection companies to provide:
- their Illinois debt collector license
- the original credit card contract that was signed
- a 15-page debt collector disclosure statement
- accurate accounting statements to ensure there are no unauthorized charges
If the debt collection company can’t provide any of these requested items:
- they can no longer legally collect on the debt
- they can no longer come after you
- they can no longer report it on your credit
- they can no longer call you
- you can no longer mail stuff to you
Find out if debt validation is right for you, by calling toll-free 1(866)376-9846
There are federal laws including the Fair Debt Collection Practices Act, the Fair Credit Reporting Act, the Credit Card Act and several other laws that protect consumer rights – and that debt collection and credit card companies must obey.
Debt Settlement – Illinois
Benefits of Debt Settlement in Illinois
- Reduce the balances on credit cards and unsecured debts – which no other Illinois debt relief program does.
- Provide one single monthly payment – typically lower than what it would be with a debt consolidation or consumer credit counseling program.
- Resolve all unsecured debt within 24-42 months on average – one of the quickest routes to becoming debt free if a client makes all of their scheduled monthly payments.
Downsides of Debt Settlement
- Since only one debt at a time is settled and paid off, it is important to make sure your budget is carefully reviewed to ensure that you can make it through the 24-42 month program.
- Creditors don’t have to agree to a settlement, and they could file with the court to issue a summons. In this case, what is the debt settlement company’s plan of action if either of these cases occurs?
- Creditors may call and harass if the debt settlement program is not an attorney model plan.
- While waiting for all debts to be settled and resolved, interest and fees will accumulate on the other debts that have not yet been paid. Is the debt settlement company explaining this to you and taking this into consideration when quoting you an estimated savings?
- Payments must be delinquent for debt settlement to work – and not paying your bills each month can lower credit scores. Therefore, if a person has a high credit score and low debt to income ratio, debt consolidation may be a better route.
To see a full list of Illinois debt settlement program disclosures visit this page next.
Debt Consolidation – Illinois
Debt consolidation is a loan that is used to pay-off all other debts – allowing debtors to have only one new low-interest loan to pay back.
Benefits of Debt Consolidation Loans in Illinois
- You get one single monthly payment. Having to manage multiple monthly payments can be difficult to maintain.
- Can reduce interest rates.
- Pays off past due accounts and all balances in full.
- Can be debt-free in around 4-6 years on average.
- Could help credit scores.
Downsides of Debt Consolidation
- Some debt consolidation companies charge high fees and interest – which defeats the point of getting a debt consolidation loan.
- Illinois debt consolidation alternative lending businesses may charge high fees are leading a person to pay a significant amount more than their balance is owed.
- The new loan’s monthly payment will not be much or any lower than if the debtor was to continue paying minimum payments.
- Low-interest debt consolidation loans are difficult to get approved for, especially if a person has a high utilization of credit ratio, low credit score, and high debt.
Debt Relief Scams in Illinois
The best way to avoid getting scammed is to do your research on the company. Do they have complaints at the Better Business Bureau? Do they have an “A,” “B,” “C” or worse rating? Does the company have any government action against them? Do they have good reviews online? Is there any assurance of performance or guarantee included?
Illinois debt relief programs can be your life-saver but like with anything it is imperative to do your complete diligence on a company – to ensure they have a long track-record of success.
Top Illinois Debt Relief, Consolidation and Settlement Company
In 2017, Golden Financial Services was rated #1 Debt Relief Company in the Nation by Trusted Reviews (click here to verify)
Most companies offer one or two programs and often will try to force an applicant into those programs even if they are not right for an individual, just to make a sale.
At Golden Financial Services we’ve aligned ourselves with industry leading debt relief partners that can assist consumers in debt settlement, debt validation, debt consolidation and consumer credit counseling.
Golden Financial Services has Zero BBB Complaints because we give our clients the right program to accomplish their specific goals and needs. We set our clients up to become debt free and repair their credit.
Illinois Debt Relief Programs are a Phone Call Away, Call 1-866-376-9846 Now.