Hamilton Debt Relief has a dedicated team will work with you every step of the way until you are debt free. We understand that it is not an easy decision to seek debt help and we strive to make the process as easy as possible. Our mission is to help you achieve your financial goals.
The way the process works is as follows:
Schedule Your Free Consultation
When you are ready to take the first step, contact us to set up a free consultation. We will review your complete financial situation and discuss your goals to determine your best course of action. Once we review all of the facts we will begin customizing a program exclusively tailored to your circumstances. We will also completely explain the benefits and drawbacks of our option so you can determine if this is the right solution for you.
During this consultation, we will go over the debts you want to enroll and determine how much you can afford to pay each month into the program. The amount of the monthly payment will be based on several factors including how much you owe, how much you can afford to put into your savings account each month and how fast you want to pay off your debts.
Taking The Next Step
A savings account used for your debt settlement program payments will be opened specifically for your monthly contributions to the program. You will make your program payments until you have enough in your savings to pay a settlement amount agreed on with your creditors. Part of your payment goes toward paying off your debt, part toward paying your program fees. Typically your monthly program payment will be much lower than the combined amount you are currently paying to your creditors. The fees we charge are based solely on a percentage of the debts we help you to settle. The program usually takes between two and four years to complete but may differ depending on your unique circumstances. Keep in mind that during the program you will be asked to refrain from using your existing credit or opening any new credit accounts. This way you will be able to get your debts paid off without incurring any new ones.
Reaching An Agreement With Your Creditors
The next step in the process will be setting the terms with your creditors. We work on your behalf to negotiate the terms, then once we have a settlement proposal worked out with one of your creditors we will present it to you for your approval. Once you have given your approval we will then notify the creditors that you agree to the terms and we will notify you in writing with the details and actual payment amount and estimated time it will take to complete your program.
Completing the Program
Once all creditors have been paid the full settlement amount that was agreed on, your creditors should contact the credit bureaus to update your account information with them. Once this has been completed your credit report should show one of the following for your settled accounts: settled for less than the balances.
You should review your credit report after successfully completing the program to confirm that the account information has been updated to reflect that the balances are paid in full.
Congratulations you are now debt free!