Debt Settlement Programs & Services
Credits Best Solutions provides clients with the means by which to resolve, restructure and settle debt problems as an alternative to bankruptcy. We provide programs that can accommodate even the most severe of cases. Our programs are intended for those clients whose expenses exceed their net income or cash flow, clients dissolving insolvent businesses, or clients forecasting future income to restructure debt in a manner that avoids bankruptcy.
Term Settlement (3-5 year programs) - are for those clients having disposable income which may be reasonably
forecasted and is, or will become, sufficient to pay back from 37% to 85% of the principal balance of their debts within a three to five year period of time.
Hardship (60 month programs) - are for those clients determined to not qualify for our "term settlement program" and have only enough disposable income sufficient to pay back from 25% to 37% of the principal balance of their debts. These clients have insufficient cash resources and/or no assets to liquidate for payment to unsecured creditors.
Extreme Hardship (60 month programs) - are for those clients determined not to qualify for our "term settlement program" and have only enough disposable income sufficient enough to pay back from 10% to 25% of the principal balance of their debts; and have insufficient cash resources and/or assets to liquidate for payment to unsecured creditors.
Liquidation (6 month programs) - are for those clients determined to have insufficient or no disposable or durable income to structure a long term program; but have limited liquidable cash resources and/or assets to pay back from 10% to 25% to unsecured creditors in a 6 month period of time.
IMPORTANT NOTES! - **Disposable Income shall be defined as that monthly income, left over, after all necessity of life expenses are paid. It may also be referred to as the income to pay down or service the unsecured debts.
The percentages mentioned above are numerical thresholds used only to determine which program a client may qualify for based on their situation. They are not to be used in marketing efforts.
It is the financial capability of the client that determines which program they qualify for, if any; how long they are in, and how much they have the ability to pay back to their creditors.