Pre-Approval Application

Debt Settlement Pre-Approval Application

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Welcome!

Over the next few minutes we will be gathering some information about you to help us determine if Debt Settlement is an option that best fits your needs. Before we continue, it’s important for you to know that this program is best for consumers whom are experiencing financial hardship and the program will more than likely effect your credit negatively. The program related affects to credit will not be permanent, but regaining your credit score will depend on how you manage your credit upon completion of the program.

Street Address*

Apt/Suite

City*

State*

Zip*

I understand that a debt relief program may have a negative effect on my credit

Yes, I understand

I am the only account holder on ALL of the accounts that I will enroll into the program*

Yes

If you would like to include accounts that are joint, please contact the joint account holder and call 1-855-501-6870 to speak with a representative to complete this process together. Otherwise, you may continue online including any creditors on which you are the sole account holder.

Frequently Asked Questions

Will debt settlement hurt my credit?

Much like many other debt relief options, a debt settlement program can affect credit negatively. It is important to understand that the purpose behind a debt settlement program is to rid yourself of a large amount of unsecured debt. While we understand how important your credit score is, we believe it is imperative to get debt and finances under control first. Once you are able to manage your finances confidently, you should be able to achieve the credit score you desire.

How long will my credit be effected?

Each consumer will experience different time frames as each financial situation is unique. However, the affect will not be permanent and your accounts will reflect a 0 balance shortly after a settlement has been procured and a creditor has been paid. For more information on how your credit score works, click here.

Do I have to include all of my accounts?

No. Although you may receive the most savings by including as many accounts as you can, it may be beneficial to leave an account or two out of the program.

What is unsecured Debt?

Unsecured debt is any debt that is not secured by an asset or back by the government. Examples of unsecured debt include: credit cards, signature loans, medical bills, personal loans, etc. Examples of secured debt include: auto loans, home mortgages, recreational vehicles, student loans, etc.

If I settle my debts, can the creditor come after me for the remaining balance?

No, once the settlement is agreed upon and paid in full, your account will be closed and the balance is reduced to 0. The creditor is agreeing to accept less than you owe to satisfy the account.

What is Global Client Solutions?

Global Client Solutions (Global) is the leading provider of account management services to the debt settlement industry today. Global is an independent third-party payment processor for consumers who are enrolled in debt settlement programs. Although we are not affiliated with any debt settlement company, we specialize in providing disbursement accounts that allow consumers to save funds to pay off their debts. Global’s Accounts are unique due to the separation between consumers and debt settlement companies, providing the consumer with complete control over the funds.

Global Client Solutions (2016) A Few Words About Our Company Retrieved from here

Is Debt Settlement a government program?

No. In fact, there are no government programs for personal unsecured debt relief and if any company tells you otherwise, it should be a red flag.

I heard I may have to pay taxes on the money I save. Is that true?

Yes. When you settle a debt you are receiving a great benefit by paying less than you owe. It is important to know that creditors will generally report any savings in excess of $600 to the IRS. You should contact a tax professional to find out your options. You may be able to file for insolvency in which case would exempt you from paying those taxes.

How long will it take to settle my debt?

Program terms are set for 1-4 years. During that time each account you’ve enrolled will settle periodically. Most of our clients see their 1st settlement within 60-90 days.

Will I be completely debt free at the end of my program?

We will be strictly focused on helping with the unsecured debts that are included into your program. This will not include any secured debts (i.e. Home Mortgage, auto loans, collateral loans, etc). Although not everyone completes their program, it is important to adhere to the monthly set aside payment plan to give yourself the best chance at success.