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Frequently Asked Questions

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No. Amity One Debt Relief is a legitimate company that has helped thousands of clients since our opening. Every day, our dedicated employees carry out our mission to help people solve their debt problems — even if the solution they choose isn’t Amity One Debt.

Participating in a debt management program can initially impact your credit score negatively because it may involve closing credit accounts or changing the terms of your debt. However, as you consistently make on-time payments and reduce your overall debt, your credit score can improve over time. The impact varies based on individual credit history and the specifics of the program.

Our program is focused on dealing with unsecured debts. We can’t help with debt that is secured by collateral (such as mortgages or auto loans). However, after completing the program, the money you had been paying towards your unsecured creditors can be used to pay down secured debts and start saving for your financial future. Not everyone completes our program, so remember that sticking to your monthly savings plan is the most important factor in determining your success.

There are federal and state laws designed to protect you from collections harassment, but the fact is most of our clients will experience some collections calls. Our goal is to get your creditors to call Freedom Debt Relief, not you. Find out more about laws that regulate debt collector behavior and what your rights are.

No. Every case is a negotiation, and there is no guarantee as to how those negotiations will go. Furthermore, the success of our negotiations is highly dependent on your ability to save a specified amount each month you are in the program.
The costs associated with debt assistance services vary by company and the type of service provided. Fees can include initial consultation fees, monthly service fees, and possibly a percentage of the debt amount saved as a result of negotiations. It’s essential to ask for a clear breakdown of all fees before enrolling in any program.
Debt management involves creating a structured plan to pay down existing debts. This typically includes negotiating with creditors to lower interest rates, waive fees, or agree on a manageable payment schedule. The goal is to make debt repayment more manageable, reduce the overall amount owed, and improve financial stability.
We offer our debt relief program to Americans with $7,500 or more in unsecured debt who are experiencing a legitimate financial hardship. Relief programs are designed to resolve your debt for significantly less than you owe as quickly as possible. First, we provide a debt evaluation to help you decide if our program is right for you. If you decide that it is, we work with you to design a program that fits your monthly budget (keep in mind that it could be less than your monthly minimum payments). Once you enroll, our expert negotiators create a negotiation strategy designed to get you the results you want.
Many companies offering debt assistance services are legitimate and can provide valuable help in managing and paying down debt. However, it’s crucial to conduct thorough research, check for accreditation with reputable financial associations, and read reviews to ensure you’re working with a reputable company. Be wary of companies promising unrealistic outcomes or charging high fees upfront.
To identify a trustworthy debt management company, look for organizations that are transparent about their fees and services, have positive customer reviews, and are accredited by recognized industry bodies such as the National Foundation for Credit Counseling (NFCC) or the Financial Counseling Association of America (FCAA). It’s also wise to check their standing with the Better Business Bureau (BBB) and ensure they comply with federal and state laws regarding debt management services.
No, our debt reduction program is not a new loan. Some of our clients use a loan in conjunction with the our relief program, but most fund their settlements with a monthly deposit into their Dedicated Account. That being said, we do have a relationship with a lending company. And some clients, who demonstrate a consistent pattern of saving their monthly draft amount on time, may be eligible for a loan from this lender to pay off one or more of their settlements. But this is not something that is required of any of our clients.

If you have one card with a low balance that you can quickly pay down to zero, then you may hold on to it for emergencies. The program will generally not work, however, unless you enroll all of your high balance (greater than $500) credit card accounts. Open credit cards make it difficult for us to negotiate with your creditors if they see you are settling on some accounts but not others.

You do. The bank account is set up in your name, and the money in the account is yours. We recommend keeping your funds in a new account, separate from your existing bank accounts because experience has shown this separation to dramatically increase the probability that you will succeed in the program. Amerifinancial fees are deducted from this account on a debt-by-debt basis and only after each debt is settled, as indicated in the agreement you signed with us. But you still own the accumulated savings in the account.

The IRS considers a forgiven debt as taxable income, so at the end of the year they will expect taxes to be paid on the settlement. IRS Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness, may exempt you from this tax. Please contact a tax adviser to discuss this issue further.

If you let your accounts become delinquent, your creditors will continue to add interest and late fees onto your balances. Typically, your balance will increase until a settlement is reached. Keep in mind that the interest is going to accrue regardless of whether you make minimum payments or not. Our goal is to negotiate substantial reductions to the balances on your accounts, even after the interest and late fees have accrued.

Yes you can. You can also do your own taxes and repair your own car, but most people would rather leave these tasks to experienced professionals. Our team of negotiation specialists resolve large amounts in debt each month. Our knowledge and experience puts us in a strong position to stand up to your creditors and fight for the best settlement possible.

Negotiation activity is typically very limited until you have saved up enough in your settlement account to make reasonable offers to your creditors. Most (but not all) creditors do not want to spend time negotiating an account unless they know there are funds available. The first settlement typically happens between months two and four of a client’s program, but this varies greatly depending on your monthly deposit amount, the number of creditors you have enrolled in the program, and the balance of each individual account. In some instances, it may take more than six months before the first settlement is reached.

Creditors do have the right to send debts to collection agencies and/or law firms to collect a debt. In our experience, lawsuits are actually only filed on a small percentage of enrolled debts. If this happens to you, we established a relationship with a third party service from a law firm that can negotiate with the goal of resolving the debt. Note that the settlement percentages associated with settlement of debts in litigation are often higher than typical non-legal settlements. Please note that we are not a law firm and cannot provide legal advice or legal representation.