Disclosures

Debt Freedom, LLC. is a member of the American Fair Credit Council and has agreed to follow industry “best practices” as endorsed by the AFCC, including information regarding the following matters as an integral part of its contract with consumers.

company name provides consumers with a debt resolution service that is more popularly known as debt settlement. Debt settlement is the negotiation of lower than full balance payments on unsecured debts on behalf of consumers who are experiencing financial hardship. Debt Freedom, LLC. wants you to understand both the potential benefits and risks that may arise from your debt settlement program and ensure that you have reasonable expectations as to all possible outcomes.

BY SIGNING BELOW, YOU ARE CONFIRMING THAT Debt Freedom, LLC. HAS EXPLAINED TO YOU, AND THAT YOU UNDERSTAND, ALL OF THE ISSUES SET OUT BELOW. If you would like to discuss or comment on any of these disclosures or discuss any aspects related to your debt settlement program, please email us at info@americanfaircreditcouncil.org with your contact information and the Compliance Department. AFCC Regulations will respond to you as quickly as possible.

You are enrolling in a debt settlement program. The goal of your debt settlement program is for Debt Freedom, LLC. negotiate mutually agreeable resolutions between you and each of your creditor(s) for the resolution of your unsecured debt(s), which are detailed as part of your enrollment agreement and are referred to as Debts Registered. You understand and acknowledge that specific results cannot be predicted or guaranteed.
You will be responsible for saving sufficient funds to enable company name to negotiate debt resolutions on your behalf. So that Debt Freedom, LLC. negotiate on your behalf and on your behalf, you must adhere to a regular deposit schedule. These funds will be deposited into a separate FDIC-insured bank account that you and only you can control. Under no circumstances should Debt Freedom, LLC. will not have custody or control of the funds you have saved.
The savings program needed to pay off your debt is detailed in your enrollment agreement. Summaries of the minimum monthly savings amount and the estimated time needed to pay off all your debts have been prepared for you. The actual resolution amounts, as well as the time required to settle all of your debts, will likely vary, perhaps substantially, from these estimates, depending on the behavior of each creditor, your ability and willingness to meet your deposit schedules, among others. other factors.
While most creditors and collectors are eager to negotiate with debt settlement service providers, Debt Freedom, LLC. They cannot force creditors to negotiate with them or accept any settlement offer. Communications with creditors are handled individually and personally with each of them. Some creditors may not be able to be located for several months after you sign up.
Debt Freedom, LLC. It is not a credit counseling service nor does it make regular payments to your creditors on your behalf. Your creditors may continue to collect collection efforts on delinquent accounts while you are enrolled in the debt settlement program. Such collection efforts may include telephone calls and letters to you, referring delinquent accounts to collection agencies, or even filing lawsuits against you.
Your debt settlement program assumes an effort that will continue for many months. The time necessary to produce a settlement of a certain debt depends on a series of factors. Which may include, but are not limited to: (a) your financial difficulties, (b) the age and balance of the accounts you owe your creditors, (c) the funds you have available to pay your creditors after to reach a liquidation, and (d) the willingness of its creditors to hold negotiations for the settlement of its debts. While no guarantees can be made, generally the more money you can save, the sooner Debt Freedom, LLC. will be able to begin negotiating settlement agreements in your favor.
Fees paid to a debt settlement service provider such as Debt Freedom, LLC. They are not available to pay creditors. Fees paid to are intended to compensate her for her efforts and will only be refundable to the extent they are deemed to have been earned in the manner described in the Client Agreement. These fees are not being saved or held in an escrow account to fund debt settlements.
Debt Freedom, LLC. is not a law firm nor can it provide legal advice or advice, so by signing below, you acknowledge that you have been advised of this circumstance. If you are sued, you should consult with an attorney licensed to practice within your jurisdiction.
You have told us that you are in a verifiable state of financial difficulties and are unable to continually comply with the minimum periodic payments required by your creditors to pay off your debts. If you do not make the required minimum periodic payments on your debts, it is likely that your defaults will be reported to credit reporting agencies, such as late payments, arrears, penalties, deregistrations of accounts or balances owed. Your creditor may raise the interest rate applicable to your account and impose other types of penalties, such as punitive interest for late payment or compensatory interest for overdrafts or similar charges. Until your account is deregistered, your balance may continue to grow as your creditor adds penalties, fees, and accrued interest to the principal owed; and, if negotiations are unsuccessful, you may be required to pay your outstanding balance in full. Even if we are successful in negotiating a resolution in your favor for an amount less than the full balance, your creditor may report to credit reporting agencies that the account was “settled for less than the full amount.”
When your creditor agrees to settle a debt, a savings of $600 or more (meaning at least $600 less than you owe at settlement) could be reported by your creditor to the IRS as Debt Cancellation income. You should consult your tax advisor to determine if your personal circumstances require you to include any Debt Settlement Income in your reportable income or if you qualify to receive a bankruptcy exclusion. For more information about the tax implications for you personally, consult the IRS website www.irs.gov for IRS Publication 908, Tax Guide for Bankruptcy and Bankruptcies, and IRS Form 982, Reduction. of Tax Credits for Debt Settlement.

In short, each case is unique and, consequently, the results, subject to both your ability to save sufficient funds and the willingness of your creditors to negotiate a settlement for an amount less than the total balance, can be expected to vary significantly. . For consumers who are in demonstrable financial hardship, a debt settlement program can be a very effective way to resolve unsecured debt, but it is not a painless process nor can guarantees be given as to final settlement amounts. nor to the deadlines in which it is finalized.

Finally, we encourage you to report any concerns you have about your debt settlement program directly to AFCC by email: info@americanfaircreditcouncil.org.

AFCC Uniform Program Disclosure Statement

Debt Freedom LLC. is a member of the American Fair Credit Council and has agreed to follow industry “best practices,” as endorsed by the AFCC, including disclosure of the following matters as an integral part of its contract with consumers.

Debt Freedom LLC provides consumers with a debt resolution service more popularly known as debt settlement. Debt settlement is the negotiation of less than full balance settlements of unsecured debt on behalf of consumers who are experiencing financial hardship. Debt Freedom LLC wants you to understand both the potential benefits and risks that may arise out of your debt settlement program and to be sure you have reasonable expectations regarding all potential outcomes.

BY SIGNING BELOW, YOU ARE CONFIRMING THAT Debt Freedom LLC. YOU HAVE EXPLAINED TO YOU, AND YOU UNDERSTAND, ALL THE ISSUES SET FORTH BELOW. If you wish to discuss or comment on any of these disclosures or discuss any aspect of your debt settlement program, please email us at info@americanfaircreditcouncil.org with your contact information and the AFCC compliance department will respond to you as quickly as possible.

You are enrolling into a debt settlement program. The objective of your debt settlement program is for Debt Freedom LLC to negotiate mutually agreeable resolutions between you and each of your creditor(s) for the resolution of your unsecured debt(s), which are itemized as part of your enrollment agreement and are referred to as Rolled Debts. You understand and acknowledge that no specific results can be predicted or guaranteed.
You will be responsible for saving sufficient funds to enable Debt Freedom LLC to negotiate debt resolutions on your behalf. In order for Debt Freedom LLC to negotiate on your behalf, you must adhere to a regular schedule of deposits. These funds will be deposited into a separate FDIC-insured bank account that you and only you will control. Under no circumstances will Debt Freedom LLC have custody or control of the funds you set aside.
The savings program necessary to settle your debts is detailed in your enrollment agreement. Summaries of the minimum monthly savings amount and the estimated period needed to settle all of your debts have been prepared for you. Actual resolution amounts, and the period required to settle all of your debts are likely to vary, possibly substantially, from these estimates, based on creditor behavior, your ability and willingness to keep to your deposit schedule and other factors.
While most creditors and collectors are eager to negotiate with debt settlement service providers, Debt Freedom LLC cannot force creditors to negotiate with them or to accept an offered settlement. Communications with creditors are handled on a case by case basis. Some creditors may not be contacted for several months after you enroll.
Debt Freedom LLC is not a credit counseling service and does not make regular payments on your behalf to your creditors. Your creditors may continue to pursue collection efforts on delinquent accounts while you are enrolled in a debt settlement program. Such collection efforts can include phone calls and letters to you, sending delinquent accounts to collection agencies or even filing a lawsuit against you.
Your debt settlement program assumes an effort that will continue for many months. The time needed to produce a settlement of a given debt depends on several factors. These include (a) your financial hardship, (b) the age and balance of the accounts that you owe, (c) the funds you have available to pay to your creditors for a settlement and (d) the willingness of your creditors to enter into debt settlement negotiations. While no guarantees can be given, generally the more money you are able to set aside the sooner Debt Freedom LLC will be able to start negotiating settlements for you.
Fees paid to a debt settlement services provider such as Debt Freedom LLC are not available to pay creditors. The fees paid to Debt Freedom LLC are intended to compensate them for their efforts and will only be refundable to the extent they have not been deemed to have been earned in the manner described in the Client Agreement. Those fees are not being set aside or held in escrow to fund debt settlements.
Debt Freedom LLC is not a law firm and does not and cannot provide legal advice or counsel, and your signature, below, acknowledges that you have been advised of this. Should you be sued, you should consult with a lawyer licensed to practice in your jurisdiction.
You have told us that you are in a verifiable state of financial hardship and are unable to meet, on an ongoing basis, the minimum periodic payments required by your creditors to pay off your debts. If you do not make the minimum periodic payments on your debts your delinquencies will likely be reported to the consumer reporting agencies as late, delinquent, charged-off or past due balances. Your creditor may also raise the interest rate on your account and impose other penalties, such as late fees, over-limit fees and the like. Until your account is charged off, your account balance may continue to grow as your creditor adds accrued interest and fees and penalties, and, if negotiations are unsuccessful, you could be called upon to pay the entire balance. Even if we are successful in negotiating less than full balance resolution for you, your creditor may report to the credit reporting agencies that the account was “settled for less than the full amount.”
When your creditor agrees to settle a debt, a savings of $600 or more (meaning at least $600 less than what you owe at the time of settlement) may be reported by your creditor to the IRS as Discharge of Indebtedness income. You should consult your tax advisor to determine whether your individual circumstances require you to include any Discharge of Indebtedness Income in your reportable income, or whether you qualify for an insolvency exclusion. For more information on tax ramifications to you personally, refer to the IRS website www.irs.gov IRS Publication 908-“Bankruptcy Tax Guide” and IRS Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness.

To summarize, each case is unique and results, dependent as they are upon both your ability to set aside sufficient funds and your creditor's willingness to negotiate less than full balance settlement, may be expected to vary widely. For consumers in verifiable states of financial hardship, a debt settlement program can be a very effective way to resolve unsecured debt but it is not a painless process and no guarantees as to settlement amounts or timing can be given.

Finally, we encourage you to report any concerns with your debt settlement program directly to the AFCC via email: info@americanfaircreditcouncil.org.

OTHER DISCLOSURES

Debt Freedom, LLC. makes no guarantees regarding performance (e.g. that debts will be lowered by a specific amount or percentage or that client will be debt-free within a specified period of time).

OTHER POLICE

Debt Freedom, LLC. does not discriminate on the basis of race, color, religion, sex, marital status, national origin or ancestry to prospective clients, employees, or third parties notice.