Frequently Asked Questions
Who is qualified for a debt settlement program?
Only those people who are facing extreme debt problems and may be facing bankruptcy are qualified for debt settlement programs.
Who is NOT qualified for a debt settlement program?
People who have the financial means to pay their debts are not qualified for debt settlement programs. If you are able to meet your monthly obligations and wish to eliminate paying debts because of a lack of convenience, debt settlement is not a viable option for you.
How do you apply?
To apply for a debt settlement program, complete the online form. A debt settlement expert will review your application and will contact you to determine if you are eligible for debt settlement
Can I still use my credit cards?
No, you are not able to use your credit cards, but we recommend you keep only one card for emergency purposes only.
Is bankruptcy a better option for me?
If you are considering applying for a debt settlement program, it is recommended you contact an attorney to see if your situation warrants a bankruptcy. Using our debt settlement process does not guarantee that you will not have to file for bankruptcy in the
Is bankruptcy a better option for me?
If you are considering applying for a debt settlement program, it is recommended you contact an attorney to see if your situation warrants a bankruptcy. Using our debt settlement process does not guarantee that you will not have to file for bankruptcy in the
What are the tax consequences?
there are a number of statutes regarding the taxation of cancelled or settled debts, ECG debt settlement recommends you seek the services of a qualified tax professional when attempting to pay your taxes.
Can't I negotiate my debts with my creditors on my own?
Yes, it is quite possible to negotiate your own debt settlement. As a matter of fact, if you are successful it will cost you less than using the services listed on this site. The problem is that many financial institutions have a natural distrust and tend not to deal with people on an individual basis. In addition to our experience and established relationship with creditors, we will not require you to ever speak to the creditors.
Does debt settlement have a negative impact on my credit?
Absolutely YES, debt settlement is not a magic formula; it is designed to help our clients in the debt relief process. Your credit score can be improved after the original debts have been resolved
What will I pay for your services?
The fee you will pay to enter our debt settlement program is determined by the amount of original debt you have incurred. All of our fees are fully disclosed before you agree to enter the program.
Do you guarantee that you will settle all of my debts?
No, although we have a established relationship with many financial institutions there is no guarantee that your creditors will agree to work with us.
Can I be sued?
Yes, your creditors have the right to take the steps they deem necessary to collect money that you owe. It is our experience that creditors will usually avoid the cost of suing and will be willing to negotiate settlement.
Can you stop creditors from calling me?
No, your creditors have the right to contact you to try to collect money that you owe them. However, once you are a part of the debt settlement most harassing phone calls will disappear and we will also advise you of your rights regarding debt collection procedures employed by your creditors.
Do you repair my credit?
Yes, the debt settlement process begins to improve your credit rating almost immediately, your credit score will begin to climb and as the debt settlement process relieves you of your current debts you will see that your credit is improving more and more
Can creditors garnish my wages?
Yes, the debt settlement process begins to improve your credit rating almost immediately, your credit score will begin to climb and as the debt settlement process relieves you of your current debts you will see that your credit is improving more and more
ECG Debt settlement & Credit repair is a company that has been assisting our customers settle their debt for many years. We operate out of Astoria, NY. We have a staff that is highly trained and certified in a wide range of financial and debt consolidation fields.
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ECG Debt Settlement & Credit Repair Corp.
30-97 Steinway Street, Suite 205, 2nd Flr.
Astoria, NY 11103
Tel: 718-932-9300
Fax: 718-932-9303
Toll Free: 800-918-8232
Email: a@ecgdebtsettlement.com
Hours: Monday to Friday 10am -6pm
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