How Debt Management Works

Who are we and how does our Debt Consolidation/Debt Management Program work?
Advanced Financial Solutions LLC is a Financial Consulting Agency that offers many different Programs to help you with your financial needs. We offer Debt Consolidation/ Debt Management, Debt Negotiation/Debt Settlement, Student Loan Consolidation, a Tax Relief program for individuals who owe back taxes, a Mortgage Assistance Program for individuals looking to purchase a home, a Reverse Mortgage Program, a Financial Literacy Program, Bankruptcy, Judgment Proofing, Credit Enhancement, Life Insurance and a Jump Start Program.

Since we offer so many different programs we work with several Non Profit Agencies. All of our Debt Consolidation/ Debt Management clients are referred to a 501c3, non-profit, Debt Management Organization called A New Horizon. They are an awesome company to work with. A New Horizon will be responsible for debiting your monthly payment from your bank account and disbursing that money to your creditors on your behalf. They do charge a monthly fee 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 Payment. Every creditor has a different payment guideline, as well as a guideline for what they are willing to do with your Annual Percentage Rate (AKA Interest Rate). If you want to know what a monthly payment will be you will need to pull together the names of all of your creditors as well as the balances you have with each of them. Then you can either fill out an application on our website or call our office with the information.

For lack of a better explanation we would assist you in enrolling in A New Horizon’s Debt Consolidation/ Debt Management Program as well as any other programs you choose to utilize. We get you set with your payments, we send you out the contract/s and you would return it/them to our Agency. We get paid a Membership Fee for doing so. It is equal to one monthly payment. This Membership Fee is good for 5 years.

As I said earlier your first payment is you Membership Fee. This fee needs to be paid within 30 days of your enrollment date. You have 2 options, you can pay this fee in full or you can choose to split the fee in half and make 2 separate payments.

Once you have paid the Membership fee, you then have another 30 days to set up you first creditor payment. The options for payment dates are the 5th,10th,15th,20th,25th, or 30th of each month.

There are a few more things I would like to remind you of about the program before you decide to enroll.
1. Be aware that each of the accounts you enroll into your Debt Consolidation/ Debt Management Program will be closed. If you have any additional accounts with the same creditors they will also be closed. Also be aware that we cannot handle secured accounts and some business accounts.
2. If you have and include an FIA/Bank of America/MBNA account into your program they will NOT allow you to keep any other credit card accounts outside of your program. This includes all Visa, MasterCard, Store cards, ect. If you want to leave any account(s) out of the program, you must leave FIA/MBNA/Bank of America out of your program.
3. If you are behind with your creditors, once you’ve enrolled, we will request that your creditors waive any late or over limit fees, which may have accrued while enrolling into the consolidation program. If your creditors continue to contact you, simply inform them that you have enrolled and refer them immediately to us. Additionally, we will request that your creditors re-age your accounts with the credit bureaus, showing you are current. (There are a few creditors that are not willing to do this).

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!