Alliance Group Debt Helper

Your Personal Debt Resolution Specialist

Debt Negotiation Program

Also known as Debt Settlement is the most cost-effective option to pay off your debts and relieve you of having to file bankruptcy. We understand the stress and struggle of living with an overwhelming amount of debt, and our goal is to reduce and consolidate your debts so that you can begin living the life you've been dreaming about. Your Alliance Group debt resolution specialist will negotiate with your creditors to settle your debt for a significantly lower amount than what is currently owed; so you end up paying only a fraction of the current balance due and owing. After the debt is settled, the creditor will send a letter stating the debt obligation has been satisfied by settlement, and will report to the credit bureaus that the debt has been "Paid" or "Settled" based upon their current terminology used in the reporting process.

The Alliance Group Debt Negotiation process has been tested and developed over years of experience by our team of professionals from the fields of finance, collections and bankruptcy. Our professionals are highly skilled in each of their fields of expertise. Through the established relationships that we have with creditors and financial institutions, creditors will typically settle for substantially less than what is currently owed when the debtor is under serious financial hardship, because if the debtor chooses to file bankruptcy, the creditor may receive only a small percentage or nothing at all.

Furthermore, creditors are always looking to avoid the ineffective and costly efforts of an outside collection company. We continually develop our relationships with creditors throughout the country, and we always maintain a very professional and cooperative relationship with the creditors in order to reach the most favorable settlement offer for our clients. We work directly with your creditors and/or their representatives, and we give 100% of our attention to each and everyone of our clients!

Some creditors, however, report the forgiven debt on a 1099 Form. The IRS considers a forgiven debt as taxable income, so at the end of the year, they will expect taxes to be paid on the settlement. The IRS, however, has a form (#982) available for special hardships. Debt Settlement could also result in a negative effect to a debtor's credit-rating while they are in the process of settling their debts because creditors won't agree to settle on an account that remains current. The debtor's credit report will reflect that they are behind in payments until the debts are settled. In most cases, debtor’s credit- rating will begin to recover shortly after all accounts are settled. But keep in mind, Debt settlement is the best way to get out of debt with the least amount of money.

For additional information, click on "Get Started" and complete the brief information form. Or call your personal debt resolution specialist for a FREE CONSULTATION at 1-877-218-6668. Our resolution specialist will discuss how to get started today. There is no cost or obligation to you, and we are always committed to finding the right resolution for your needs.

Debt Management Program

Our Debt Management Program has helped thousands of people nationwide consolidate millions of dollars in credit card debt, department store card debt, medical bills, finance company obligations & other unsecured creditor debts into one low affordable monthly payment.

It does not matter how little you owe. What matters is that our Debt Management Program could lower your monthly payments, lower your interest rates, stop collection calls and could provide more spendable income each month for you and your family.

Alliance Group’s Debt Management Program could reduce your monthly payments and payoff your credit card debt in 3 years (36 months) instead of 20-30 years. In addition, our proven Debt Management Program, in most cases, can lower or eliminate credit card interest, stop late fees, and over-limit fees. Alliance Group Debt Resolution Specialists have successfully consolidated millions of dollars in unsecured debt for thousands of people nationwide. Wisconsin Residents click here to see our special program.

Bankruptcy

Personal bankruptcy generally is considered the debt resolution option of last resort because the results are long-lasting and far reaching. People who qualify and follow the bankruptcy rules receive a discharge of debtor notice; a court order confirming that certain debts are discharged. However, bankruptcy information (both the date of your filing and the date of your discharge) stay on your credit report for up to 10 years, and can make it difficult to obtain credit, buy a home, get life insurance, or sometimes make it difficult getting a job. Still, bankruptcy is a legal procedure that offers a fresh start for people who have gotten into financial difficulty and can't satisfy their debts.

There are two primary types of personal bankruptcy: Chapter 13 and Chapter 7. Each must be filed in federal bankruptcy court. As of April 2006, the filing fees run about $274 for Chapter 13 and $299 for Chapter 7. In addition there are Attorney Fees which can vary among the different Law Firms.

Effective October 2005, Congress made sweeping changes to the bankruptcy laws. The net effect of these changes is to give consumers more incentive to seek bankruptcy relief under Chapter 13 rather than Chapter 7. Chapter 13 allows people with a steady income to keep property, like a mortgaged house or a car that they might otherwise lose through the bankruptcy process. In Chapter 13, the court approves a repayment plan that allows you to use your future income to pay off your debts during a three-to-five-year period, rather than surrender any property. After you have made all the payments under the plan, you receive a discharge of your debts.

Chapter 7 is known as straight bankruptcy, and involves liquidation of all assets that are not exempt. Exempt property may include automobiles, work-related tools, and basic household furnishings. Some of your property may be sold by a court-appointed official - a trustee - or turned over to your creditors. The new bankruptcy laws have changed the time period during which you can receive a discharge through Chapter 7. You now must wait 8 years after receiving a discharge in Chapter 7 before you can file again under that chapter. The Chapter 13 waiting period is much shorter and can be as little as two years between filings.

Both types of bankruptcy may get rid of unsecured debts and stop foreclosures, repossessions, garnishments and utility shut-offs, and debt collection activities. Both also provide exemptions that allow people to keep certain assets, although exemption amounts vary by state. Note that personal bankruptcy usually does not erase child support, alimony, fines, taxes, and some student loan obligations. And, unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or a secured lien on it.

Another major change to the bankruptcy laws involves certain hurdles that a consumer must clear before even filing for bankruptcy, no matter what the chapter is. You must get credit counseling from a government-approved organization within six months before you file for any bankruptcy relief. Also, before you file a Chapter 7 bankruptcy case, you must satisfy a "means test." This test requires you to confirm that your income does not exceed a certain amount. The amount varies by state.

Doing Nothing…

Idleness stops nothing. Precisely that, nothing. Doing nothing about your unsecured debt will not improve your situation or make your debts disappear. In fact, if you are late on your payments, your credit has already begun to worsen.

Doing nothing about your debt may damage your family's financial future. In the meantime, creditors will take action. Thus, you may face lawsuits, garnishments, or repossession.

In fact, if you decide to do nothing and continue to make the minimum payments on your credit cards and other unsecured debt it can add years and cost you thousands of dollars more. If you are only making minimum payments on $20,000 in credit card debt, at a 19.0% interest rate, it will take you over 50 years to pay it off and you will pay over $50,000 in interest. ~CNN Money

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