Who controls the savings fund allocation to creditors?
Top We do, as the account is maintained and set up by us in our own bank. You will need to discipline yourself to pay the required funds in a timely manner into this account during each month of the program. This amount will be far less than your total monthly minimum payments on your credit cards, allowing you more cash for other things. Once you have achieved the dollar amount needed to settle an outstanding balance of a given account, we will notify you when we begin the settlement negotiation process. Once the settlement of the account is negotiated, you will receive a letter from the account holder indicating the dollar amount needed to settle your balance. We use the funds from your savings account to send them a certified check for the payment. Further instructions will be provided upon entering the program.
