Debt Management Fees

How does the Debt Consolidation/ Debt Management Program work, Is it a loan?
This is not a loan. We consolidate your bills into one monthly payment as well as lowering your interest rates. We simply re-structure your debt based on guidelines provided to us by your creditors.

Are there any fees or hidden charges?
We charge a Membership Fee to enroll into our Agency that would be due within 30 days of the date you enroll. This fee entitles you to the use of any/all of the program(s) we offer, over a five-year period. So along with getting you started with your Debt Consolidation/ Debt Management Program now, you have access to all of our other services during that period. Your Membership Fee is equal to one monthly payment. There is a minimum of $175.00 and a maximum for this fee of $599.00.

There is also a monthly fee that goes directly to A New Horizon and it is determined by the number of creditors you enroll and/or the amount of debt you have as well as the state in which you reside, it ranges from $0.00 to $50.00 a month. This combined with the money that will be sent to your creditors, gives you a Monthly Debt Consolidation/ Debt Management Program Payment.

When is my monthly payment due?
All of the payments are done as an automatic debit from a checking or savings account. We do not accept checks or money orders. You would select the date that works best for you, and your bank account would be debited on that day. The payment date options are the 5th, 10th, 15th, 20th, 25th, or 30th of each month.

Your funds will be disbursed to your creditors approximately one week after your account has been debited. Funds pulled on the 25th are sent to your creditors during the first week of the following month.

Can I change my scheduled payment date?
Yes, but please give us at least a five business day advanced notice of the original payment date to make any changes.

When one creditor is paid off, what happens to the money that is being paid on that account?
The money can be applied either to your remaining accounts or you can reduce your monthly payment by that same amount. In order to become debt free as quickly as possible we encourage you to keep your monthly payment the same and apply it to another creditor. Our trained, professional account managers will determine which account the extra money needs to be applied, unless notice is given by you.

Can I increase my monthly payments?
Definitely! Remember, your objective is to get out of debt as soon as possible. Any time you have the good fortune of having extra money to send to your creditors, you should do so. You can pay ahead at any time without penalty. You would simply need to call A New Horizon at least 5 business days prior to your payment date and let them know that you wish to pay more. You can be account specific. If you are not they will simply divide the extra money evenly between all of your accounts.

What happens if I receive a large sum of money and want to pay off my account early?
When circumstances allow for an early payoff, contact your creditors for an estimate of the final payment amount. Then contact A New Horizon to update balances to ensure funds are disbursed properly. Please make these final payments through A New Horizon. If your payoff is larger than your regular debit amount, we require that you contact us to make arrangements for your final payoff debit. Also let A New Horizon know to stop your Auto-debit if you are paying off your accounts in full.

What if I lose my job?
If circumstances arise and you miss two consecutive deposits, your creditors may drop you from your Debt Consolidation/ Debt Management Program. Please contact A New Horizon so that you can discuss the possibility of a review appointment to assist you until you have income again.

Fill out the application on the next page or Enroll By Phone 1-800-413-4404 (9am-10pm CST Monday-Saturday) Click here for the free quote form!