Some collection agencies and debt buyers have internal teams that are often referred to as “legal” or “pre-legal” departments. Resolving an unpaid debt when accounts are in these departments will often yield better savings and/or more flexible payment terms. Aside from using the term pre-legal, several credit card issuers will…

Not all unpaid debts will wind up in court. Some lenders and debt buyers use collection law firms a ton, while others use them sparingly, and others still, not at all. Your Resolve profile is a great place to get an idea of what you can expect to happen with…

Hearing from a collection agency will typically mean you have fallen behind enough on a bill for your creditor or service provider (utility bill, medical debt) to have given up trying to get you to pay.When it comes to credit card bills, you can start hearing from collection agencies after…

The DMP requires somewhat consistent monthly payments. A few missed payments could result in the plan ending and your debt going back to the original interest rates. It’s in your best interest to make sure you can cover these monthly payments for an extended period of time.

Debt management plans cannot exceed 60 months of repayments, which we have calculated for you. You can finish a DMP faster by paying extra when you have more to give, but the plan cannot be extended beyond 5 years (60 months).

You will get together with the nonprofit credit counseling agency who will help you determine the right start date for your DMP.

Here are some possible reasons your debts have been excluded from the plan: The creditor you’ve listed may not be in our system. If you do not see it listed, please check the spelling and/or contact support@helloresolve.com to let us know what type of debt you are trying to enter so we…

On average, your interests rates for both credit cards and bank loans will be reduced down to 6% with a DMP, which means lower monthly payments for you. DMPs have a payoff time of 60 months or less. This can shave 15 or more years off of a person’s credit…

The nonprofit credit counseling agency that will implement your DMP charges a nominal monthly fee to administer your plan, remit payments to creditors, etc.

Debt management plans cannot exceed 60 months of repayments. You can finish a DMP faster by paying extra when you have more to give, but the plan cannot be extended beyond 5 years (60 months).

Debt management plans are estimated between 1.7 and 2.5 percent of your enrolled debt (the accounts accepted into the plan). If you enroll $30k in a DMP, your new monthly payment will be between $510 and $750. You need to contact an accredited DMP provider in your state to get…

Your DMP will have a set monthly payment, and cannot last longer than 5 years. This means you are out of debt far faster than if you were to just make minimum payments on the balances you owe as of today. The interest rate savings range is there to show you…

Unfortunately, we do not offer either of these services at this time, as we are not a Credit Counseling Agency. However, once you complete your profile, our system will be able to determine if Credit Counseling may be a good option for you and will point you in the right…

Resolve can help you with debt management by referring you to a service provider in the Resolve Network, who offers a free consultation and will provide a payment quote. Then you can evaluate if it’s a good option for you and your financial circumstances.

Nope. Debt management usually involves working with a credit counseling agency that seeks to lower interest rates on your existing loans and credit card debts. Debt consolidation, on the other hand, usually means taking out a large loan from a creditor to cover the balance of all your existing loans…

You can apply for car loans, student loans, and mortgages while in a DMP, and certainly after. It is often best to wait until you complete your DMP before applying for new credit cards and unsecured loans.

Positive, closed accounts.

Nothing negative should appear on your credit report during this time. Your report should show that you’re making your payments on time. Some of the accounts may show you are enrolled in a DMP.

Your score shouldn’t be impacted during or after a DMP. Your utilization should come down which can help your credit score. However, because your accounts in the plan typically get closed, you will lose some “account type” diversity, which can be replaced later.

There should be no meaningful impact if you have maintained on time minimum payments. If you already have late payments prior to the DMP, the credit damage has already happened.

A DMP requires somewhat consistent monthly payments. If you miss a few payments, your plan could end and your debts would go back to the original interest rates.Accounts enrolled in the plan will be closed. This means that when the DMP is over, while the debt is paid and your…

On average, your interests rates for both credit cards and bank loans will be reduced down to 6%, which means lower monthly payments.They may make it more affordable and have a fixed pay off time of 60 months or less.You won’t have to deal with collectors.If you make your agreed-upon…

No, a credit counseling agency will need to do this for you; however, some creditors may offer hardship plans to you directly. If you decide that a DMP is the right option for you, you’ll need to contact a licensed credit counseling agency in your state. Both the National Foundation for…

These plans are highly regulated so fees vary by state. Typically, a nominal fee is built in to your monthly payment that will always be between 1.7 and 2.5 percent of your total balances enrolled. Most states cap fees between $50 and $75 and a certain percentage of people enrolled…

Debt management plans typically last 36 to 60 months but cannot exceed 60 months of repayments. You can finish them faster by paying extra when you have more to give, but you won’t be able to extend the plan beyond five years.

In order to begin a DMP, you will need to reach out to a Credit Counseling Agency licensed in your state. The agency will work to reduce the interest rates you are currently paying so you can bring down more of the principle. However, you will need steady income as…

A Debt Management Plan (also known as a DMP) is a sponsored repayment plan where you work with a nonprofit credit counseling agency to pay back your existing debts. The plan puts all your qualified debts into a single payment, reduces interest rates and often eliminates fees. These plans typically…

You can file Chapter 7 right away, which is especially useful if you are already involved with legal collections, or have been struggling under the weight of overwhelming debt for too long.

The average national cost for Chapter 7 is around $1,800, but this will vary slightly by location.

Here are some possible reasons your debts have been excluded: The creditor you’ve listed may not be in our system. If you do not see it listed, please check the spelling and/or contact support@helloresolve.com to let us know what type of debt you are trying to enter so we can assist you.Student…

You certainly should look into your options with Chapter 13 Bankruptcy. It is a forced repayment plan that typically lasts 5 years. It is inflexible and hard to complete. Most of us would look to settling debts for less outside of a Chapter 13, as it can go faster, provides…

Not currently but stay tuned! However, we offer this helpful resource for now: http://network.nacba.org/advanced-search where you can find a bankruptcy attorney near you.

We can connect you with licensed professionals in your state that will give you a no-cost initial consult. We can also help you understand what Bankruptcy would do or mean for your financial circumstances.

You can apply for credit cards, loans and car loans right after discharging debts in Chapter 7 bankruptcy. However, the rates may not be ideal. You can apply for a mortgage 2-3 years after discharging as well. Please keep in mind that Chapter 13 is a much longer process than…

If you are still paying on your car loan, you can reconfirm the loan in Chapter 7 and continue to drive, and eventually own your car with regular payments. You could also use the Chapter 7 process to shed your loan obligation on an underwater car loan. If you own…

How much of your home equity is protected in a Chapter 7 bankruptcy is determined by the state you live in. A limited number of states protect the entire value of your home, while others protect very little. If you do meet your states homestead/equity exemptions, you would continue to…

A bankruptcy remark will show on your credit report for 10 years after filing Chapter 7. However, you can take steps to rebuild your credit immediately. A bankruptcy remark will show on your credit report for 7 years after filing Chapter 13. So if you think about it, since Chapter…

There is no “during” period when filing Chapter 7 because it’s over so quickly. As for Chapter 13, you’re unfortunately in credit purgatory until your payments are complete. This can take up to five years so there won’t be any updates to your credit report until you’re done with all…

After a Chapter 7 discharge, you can start rebuilding credit immediately. Given that a Chapter 13 Bankruptcy can take up to five years, there likely won’t be any meaningful credit rebuilding opportunities until it’s complete. 

There’s no way to sugarcoat it, filing Chapter 7 or Chapter 13 Bankruptcy will cause a pretty hard hit to your credit.

There is a period of time where it impacts your credit and may impact your immediate financial goals.History shows the majority of people who file Chapter 13 Bankruptcy risk not completing it, and therefore waste money and time on a solution that did not work.It’s public. This doesn’t impact most…

Despite the prevailing stigma surrounding bankruptcy, hundreds of thousands of people in the U.S. file for bankruptcy protection every year. For many, debt relief under court protection can be the tool they need to get their financial lives back on track. Here are the four main benefits of bankruptcy, and…

It is possible to file Bankruptcy for both Chapter 7 and 13 without a Bankruptcy attorney but it is not recommended or usually worth it. Working with a professional is advised since this is a legal process.

The average national cost for Chapter 7 is around $1,800, but this will vary by your location.Chapter 13 varies, but expect to pay $3,000 or more.

Chapter 7 is typically over in 90 days.Chapter 13 Bankruptcy plans run for 3 or 5 years. The vast majority of them are set for 5 years of repayments.

The two most common types of Bankruptcy filings are Chapter 7 and Chapter 13. In most cases you will almost always want to reach out to a Bankruptcy attorney near you and schedule a consultation; most of them do this for free so if they want to charge you, find…

Depending on the type of Bankruptcy filing, it’s an opportunity for a consumer to gain protection from creditors using the courts, discharge unsecured debts entirely, or enter into an organized repayment plan. There are different types of Bankruptcy filings and pros and cons within each option. Chapter 7 and Chapter 13…

Another easy one. Email our Helpline at support@helloresolve.com We’ll try to get back to you within a few hours.

Your action plan is a customized, and prioritized task list for you to complete so we can best recommend debt solutions that fit your needs. You can access it anytime by clicking on the menu on the right hand side of your profile. Make sure to complete any tasks that…

It’s easy to schedule a call with one of our debt experts. Just click this link to find a time and day that works best for you!

You can click this link, enter your email, and request a new password.

Filling out your profile is easy, just follow the guide below! 1. First, you’ll want to take care of the items in your Action Plan. You can easily access it by clicking on the menu on the right hand side of your screen. 2. Make sure to complete any tasks…

All the paths you can take to get out of debt can be confusing, but we’re here to help you find the right choice! If you haven’t already created a Resolve profile, you can do so here or you can schedule a free consultation with a debt expert. In order to…

That’s a great question. Most importantly, Resolve is completely free to its members. We are able to provide this great platform and service because of the partnership we’ve established the service providers in the Resolve Network.

We can help you understand if a debt management plan (also known as a DMP) is a good option for you and answer any questions you have. If you’re ready to start a DMP, we’ll match you with a trusted credit counselor in the Resolve Network. You’ll just need to…

You can’t file bankruptcy through Resolve yet, but we’re working on it! When this service becomes available, we’ll match you with a trusted bankruptcy attorney in the Resolve Network.  In the meantime, the National Association of Consumer Bankruptcy Attorneys (NACBA) is a great resource to find a bankruptcy attorney near you.…

Yes, you can settle your debts on Resolve by engaging a professional debt settlement provider in the Resolve Network. After answering some questions, the platform will build you a settlement plan and then match you with a settlement expert who can handle the entire settlement process for you.

The Resolve Network is a group of people and companies dedicated to helping people in distress. We’ve screened and vetted all of the providers in the Network. They share our values and have pledged to always do what is right for the members of Resolve. They do charge for their…

We’ve pulled together some of the best debt coaches, debt settlement negotiators, credit counselors and attorneys. They can help you with debt settlement, bankruptcy, debt defense, debt management plan…and just about anything related to your debt.

No. We take privacy seriously. We promise to never sell your information and we will never share your information without your express consent.

It sure is. We use bank-level 256-bit SSL encryption on our website and our databases are all encrypted. Our servers are hosted securely on Amazon Web Services (AWS), a secure hosting service trusted by the Department of Defense and NASA.

We’re so happy to hear that we can help you on your path to getting out of debt. If you haven’t started a Resolve account already, click here to get started. And if you have any questions along the way, feel free to send us a message.

The platform and debt guidance are free. You can review and compare debt relief paths for free. You can ask our experts questions for free. You can get debt settlement estimates and a settlement plan for free. The only thing that is not free on Resolve is if you decided…

This is a hard question to answer, but an important question to ask. Since starting Resolve in 2017, tens of thousands of people have used the platform. We’ve provided guidance on over $1.5 billion of distressed debt. We were selected as a 2018 Winner in the Center for Financial Services…

First, our decision-making tool asks you some questions to understand your financial situation. This will include things like your goals, debts, income and household situation. After that, it will do some calculations to see which debt relief options are available to you. We’ll answer all of your questions and when…

Resolve is a free financial management platform designed to help people experiencing financial distress. The platform will help you compare various debt relief options and can connect you with trusted, affordable debt relief providers. It’s also more than just software. We have a team of debt experts standing by to…

Yes, this can still happen. Please watch the video below for more information, and feel free to contact us at support@helloresolve.com if you have any questions or need help. Alternately, you can send us a message.

Yes, but you’ll need to contact our support team who can give you specific instructions.

If you miss a payment on an agreed upon plan, you risk losing the deal you have and potentially may have to start from scratch. Please contact us if you would like to discuss further.

Unfortunately, no. Once you have agreed to a settlement on a particular account, and do so with monthly payment terms, the payments cannot be edited. If you miss a payment on an agreed upon plan, you risk losing the deal you have and potentially may have to start from scratch.…

Absolutely! We will present each offer with a comparison to the plan, a recommendation, and the fee to settle using our partners before you commit.

Our goal is to save you as much as possible when negotiating and settling your debts. Our negotiator partners charge 15% of the savings they’re able to get for you. Since their incentive is to save you as much as possible, it’s a win-win for both sides!  For example: Let’s…

Yes, the fees are already included in the payment estimate(s) for your plan. You pay your settlement and then you will receive an invoice from Resolve. Our goal is to save you as much as possible, so our fee is 15% of the savings we get for you. We can…

Collections is not a one size fits all. Creditors and lenders have different recovery goals at different stages of delinquency. And each collection agency, law firm, and debt buyer will often view each of them differently. The ranges for settlement you see reflect many different variables that may or may not…

The estimates are based on how quickly you raise money. The system currently has a 24 month bias, but you can do it much faster if you’re able to put more money towards settling. We want to get you through this fast. The quicker you can be, the better, when…

Settlements estimates are based on historical data and real time trends with each of your creditors, the collection agencies, debt buyers, and even collection law firms involved.

We provide you an outline and estimate of what your settlement(s) will cost, how long the settlement plans will take to complete, and when you should target certain creditors. It’s created for you to use as a guide, and we also include our service fee so everything is transparent and personalized before you decide to proceed…

Our number one goal is to assess your personal situation and understand the legitimate, viable options for you, and we are really good at that! We are then going to transparently educate and inform you of these options, triage based on your situation, and provide you with partners that can help…

We are not fans of how most debt settlement companies charge such high fees! And they often settle debts in the wrong order that allows them to get paid quickly, and not in a manner that saves you the most. At Resolve, we are biased about these companies, as we offer an alternative solution,…

Yes, many people are successful negotiating with creditors and debt collectors on their own, but be prepared to do your own research. It is hard work to optimize results. So, as for anything, there are pros and cons to this approach.

We have attorneys available that can represent you for as little as $200 that will continue to work on negotiating a settlement, be prepared to pay 50% or higher on lawsuit negotiations. For more information, you can reach out to our support team by emailing support@helloresolve.com or schedule a consultation appointment here!

Yes, Resolve can help you through legal collection issues. There are attorneys that are part of the Resolve network who regularly defend people in collection lawsuits in order to better negotiate settlement outcomes. The fee is the same, 15% of savings, but there may also be some fees associated with…

Yes. Creditors have the right to file a lawsuit if you are not paying a debt. Being sued is one of the biggest concerns you should have before determining if debt settlement is something you should attempt. Feel free to contact us for a free consultation so we can help you calmly…

You can apply for credit cards, loans, car loans, and mortgages right after your last settlement payment is made.

Remarks of 30, 60, 90, 120, 150 days late, followed by a charge-off will appear. Additional trade lines could be reported later on by debt collectors and debt buyers.Once paid, it will show as a paid collection but you can still accomplish your future credit and finance goals, even with paid collections…

Credit scores typically don’t improve during settlements, but can improve rapidly after! Some people see a much more elastic bounce back soon after their last settlement payment, whereas for some people it can take a few years to see healthy credit score improvements.

Your creditors will not settle with you unless you are late with payments. On time payment history is roughly 30% of how your credit score is factored. This has a major impact on your credit score. If you are already late with payments, your credit is already impaired. Settling the…

Not everyone will owe tax on their settlements.If you have a debt that is settled for less than the original balance, and the difference (the forgiven portion of the debt) is greater than $600.00, this would then needed to be reported as income. In this case, you should receive a…

Your credit score will temporarily drop, if it has not already.Collections – your account will be subjected to internal/external collections which could include being sued.You may be impacted by taxes.

You will likely pay less and get out of debt faster; which is a drawback and benefit. If you’ve already missed payments with your creditor, and are in collections, settling will eventually help your credit.It can improve your financial situation.It can help you avoid being sued if you’re already in…

You’ve fallen behind on payments and the debt is “old enough” to be considered for a settlement plan (usually 5 or more months delinquent).You must be in a position to accept the terms or the amount of the settlement (have enough savings or resources to commit to a settlement in…

The timing can vary depending on who you’re working with. Creditors typically are willing to settle when you’ve become late enough to trigger the accepted protocol for loss mitigation. This is typically when you’re at least 90 days delinquent or more.

It is an accepted business practice for creditors to take less than the balance owed, because they are unlikely to collect on the vast number of accounts that are more than 90 days late. For more information, you can watch this video: 

Debt settlements do not have a set time of completion. You could have a single account you are already late enough on, and settle it in one day. Settlements typically take as long as it takes you to pull money together to fund the deals. But try not to take…

Creditors will base the settlements that they agree to on: how delinquent your account is how long you’ve had the accounthow collectable you look on paper (you appear to be managing at least some of your debts well)

Debt Settlement is a negotiation between you (or your representative) and your creditor (or their representative like a collection agency or collection lawyer) to pay a lesser amount than your current balances.

Given that Resolve charges a fee based on 15% of the amount that our negotiating partners are able to save you, the fees will vary depending on the settlement agreements with your creditors or lenders. Because there is a range for your settlement, there is also a range for the fee.…

Yes, just click the blue text in the “Payments” box that says “Adjust Payments”.

Your plan can begin today if you’re ready to proceed. That can include negotiations with your creditors and collectors if your accounts have gone unpaid long enough, and you are prepared financially to fund offers. If you are not late enough on debts in order to get the best settlement…

There are varying reasons for this. Say you settled a debt for 50% of the balance owed, and are paying that in 12 equal monthly installments. Your settlement work is completed, but you’re still finishing up your payments. We are constantly updating the Resolve platform. Some of these updates can…