Debt Relief Frequently Asked Questions
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We have some of the most frequently asked questions about debt relief below.

How Does The Debt Relief Process Work?
The debt analysis is absolutely free, confidential, and requires no commitment. Peachtree doesn’t charge any upfront fees and there is no cost to sign up. There are only fees paid once the debt has been settled. Our fees usually range from 15%-25% and may vary from state to state. What type of debts can Peachtree Debt Relief help me with? Peachtree Debt Relief programs could help you with debt from credit cards, department store cards, medical bills, private student loans, payday loans, and also business debts. These types of debt are called unsecured debts.
Who qualifies for the program?
The program is designed for anyone in financial hardship who is falling behind or having problems making minimum payments to creditors on their unsecured debts. You must have a minimum of $10,000 in total unsecured debt and a minimum of $500 of unsecured debt with each individual creditor.
What Happens If I Miss A Monthly Payment?
Everyone’s circumstances are different and you may need to adjust your payment schedule if the unexpected happens. We’re happy to work with you to make any needed adjustments if necessary. Contact our Customer Relations Team at least 7 days before your scheduled deposit date so that we can pause any automatic scheduled payments.
Will Debt Collectors Call Me?
Phone calls are a natural part of the debt resolution process, but there are federal and state laws designed to protect you from collections harassment. Many of our clients will experience some calls from collections. To help understand, we offer tools and guidance on how to handle those interactions to stop these types of phone calls. Click here to learn more about the federal laws that regulate debt collector behaviors.
What do I say if a creditor or collector calls?
Since you are in true hardship and cannot afford to pay your creditors, the best thing to do is to inform them that you wish for them to send all communications to you in writing. There is no law that says you have to talk with your creditors. The main thing you should do if you are being bothered by a collector is call our account manager team and they will explain the best way to handle the calls.
What Happens If My Creditors Take Legal Action Against Me?
There is a slight possibility that any creditor can sue you. However, lawsuits are expensive and creditors try to avoid them. Some creditors use lawsuits as a tactic to intimidate or force payments. We are not lawyers and cannot provide legal advice but, we can remove creditors that refuse to resolve your debt from your program. Should a creditor take legal action on your debt, you can contact us for assistance.
What happens if I get sued by my creditors?
If you receive a summons or any other legal document from any of your creditors, make sure that you fax it to us immediately. We have established a relationship with a nationwide law firm who will handle your case and assist with expedited negotiations.
What are my options if my creditors violate collections laws?
You have the right to bring suit against a collector in certain cases. We will be monitoring your creditor contact and evaluating the correspondence sent to you. If a law has been broken we have a relationship with a debtor’s rights firm that will file an action for you.
How Long Will It Take For Me To Complete The Program?
Our average completion of the program takes approximately 12-60 months. Depending on the amount of debt enrolled and the amount you have agreed to deposit each month into your dedicated account.
Is The Money In My Dedicated Account FDIC Insured?
Yes, the dedicated account providers insured these debt settlement clients up to the FDIC limits which is currently $250,000.
Will I Owe Taxes On My Forgiven Debt?
It is unlikely but it is possible that you will owe taxes on the amount of the debt forgiven by creditors. Your creditors will issue you a 1099-C form for any debt forgiven over $600. The forgiven debt counts as income. But, if you are insolvent at the time we settle with your creditors, you may not have to pay any taxes on the forgiven debt. To learn more about your specific situation, and understand the potential tax implications. It’s a good idea to talk to your tax advisor of any debt that’s been forgiven through a debt resolution program.
Will This Have Any Effect On My Credit?
We focus on helping you get out of debt asap by negotiating with your creditors to come to a mutual agreement to accept significantly less than face value on your unsecured debt. It also depends on your situation with your credit report during your enrollment or other debts, including ours, could negatively affect your credit. Your credit score will be negatively impacted.
Can I Continue To Use My Credit Cards While Enrolled In The Program?
No, you will not be able to use your credit cards that are enrolled in the program. We do recommend, that you set aside one card to be used in case of any emergency situations that might arise. Ideally, this should be a credit card with an available balance that you intend to keep.
Can I Negotiate With My Creditors On My Own?
There may be a handful of people who can do the job right but the majority lacks the experience and the patience to do so. Usually, the bad outcomes that can result from doing the job wrong usually outweigh any benefits you may expect from doing it yourself. Yes, you can negotiate with your creditors yourself and save yourself an extra 18-25% off your debt. (Our fee is 15-25% of the debt amount depending on the state they live in and the amount of debt they have.) Here at Peachtree Debt Relief, our expert team of negotiators have years of experience in dealing with creditors and negotiating the best settlements. Not everyone wants to talk to their creditors on a regular basis or have the expertise as we do.
Are Debt Relief/Settlement Programs Legitimate?
Yes, Debt settlement companies are required to be licensed, bonded and registered in every state in which they work and are also fully federally regulated. A debt settlement company will never charge you fees upfront, if they do then it is not a legitimate settlement company. We have been helping consumers settle debt for over 10 years and do so with integrity.
Am I A Good Candidate For Debt Resolution?
Debt resolution is generally for people with $7,500 or more in unsecured debt who are experiencing a difficult time making credit card payments and or maxed out of their available credit . The ideal candidate is looking to reduce their monthly payments and pay off their debts within a timeframe of 1-4 years as opposed to the 20-40 years that it will take by continuing to make minimum monthly payments. If you’re dealing with financial hardship and have more debt than you can pay off in the next 1-4 years then debt resolution may help reduce your monthly payments and resolve your debts more quickly than you would on your own.
What’s the difference between Debt Relief and Debt Consolidation?
Debt relief reduces your balance. Your debt is negotiated down, and you pay less than you owe. The creditor forgives the remaining balance in a transaction called a settlement. Debt consolidation combines all of your debt into one loan with a single monthly payment, often at a reduced rate of interest. This typically requires a higher credit score for approval.
How Is Debt Relief Different From Bankruptcy?
Bankruptcy is generally seen as a last resort and can come with harsh consequences. It will have the most significant impact on your credit score for up to 10 years, which means it will take a long time to recover. You can be denied employment, state licenses, insurance – even tenancy of an apartment. Plus, there’s a risk that major assets could be seized, causing you to lose personal property. If you choose bankruptcy, you’ll have limited access to financing for years – and unfavorable payment terms if you are able to get a loan. Debt relief is the process of negotiating outstanding debts, using a combination of debt forgiveness and a reasonable payment plan to help you get on top again. Our program can help you realize a significant reduction in the amount you owe, have a lower monthly payment, and get you out of debt within 24-48 months, in most cases. You’ll also avoid bankruptcy, collections calls and debt harassment. And while our program could have a negative impact on your credit initially, it’s usually a short-term issue. In most cases, your credit will start improving as soon as you begin settling your debts with your creditors.
Is Debt Relief Really Worth It?
Yes! If you’re living paycheck-to-paycheck, carrying high balances on your credit cards, and struggling to make the minimum payments, you’re dealing with unnecessary stress that can affect both you and those close to you. When you enroll in our program, not only will we negotiate down your debt and help you get on top of your finances, but you’ll also find yourself free of the stress, guilt, and worry that comes with overwhelming debt. That means you’ll have time to focus on what really matters: family, career, and enjoying life to the fullest.
Will I still get charged interest and late fees on my debts?
Part of your agreement with your credit card companies allows them to continue to add interest and late fees to your debt any time you fail to make payments. This means that your credit card debt could go up while you’re getting your Dedicated Account set up and funded. Our goal is to reach new agreements with your creditors that will reduce your debt overall, including any interest charges or late fees that were added when you began our program.
Is This A Debt Consolidation Loan?
No, this is not a debt consolidation loan. What we can do is consolidate your debts into one monthly payment that is usually lower than your current monthly payments.

Debt Settlement Can Help You Achieve Financial Stability If You:

Need a fresh start

Want financial freedom

Want to get back on track economically

Have unexpected medical expenses

Have overwhelming monthly credit card and loan repayments