What kind of concessions do creditors offer?
Concessions vary depending on the creditor. Many creditors offer debtors on our program concessions such as lowered or eliminated interest rates, removal of late fees, and/or re-aging of your account. However, keep in mind that most creditor concessions do not go into effect until you have made at least three to six consecutive monthly payments on the program. The creditors want to know that you are serious about eliminating your debt and that you intend to make consistent, on-time payments. If you still are not seeing concessions on your statements from your creditors after you have made several payments on the program, please contact our Customer Service Department so that we can contact your creditors.
Concessions vary depending on the creditor. Many creditors offer concessions such as reduced interest rates, removal of late fees and/or re-aging of accounts to debtors on debt management programs that we administer. However, not all creditors will offer concessions and the concessions offered by some creditors are limited. Also, please keep in mind that most creditor concessions do not go into effect until you have made at least three to six consecutive monthly payments. The creditors want to know that you are serious about eliminating your debt and that you intend to make consistent, on-time payments. If you still are not seeing concessions on your statements from your creditors after you have made several payments under your debt management program, please contact our Customer Service Department so we can contact your creditors.
