Pacific Debt Relief Inc. is working in the field of finance and best management since the year 2002. People have been looking for the Pacific Debt Relief overview to gain an understanding of how their business works and what sort of services do they provide.
The objective of this company or agency is to assure an efficient repayment of debt on your part. The thing to keep in mind is that it does not lower your interest rates but effectively increases your credit score. So without wasting any time, let us hop into Pacific Debt Relief overview.
Debt Relief Qualification:
The customers usually ask for a quick repayment of debt and an immediate efficiency. In reality, debt relief is a long-term process which usually is 24 to 48 months long. It assures a complete repayment of unsecured debt. An unsecured debt is that debt which is without any mortgage at all. You do not give your belongings to a bank as a security for the repayment of the loan. The major examples might include the credit card debt and medical loans.
The second qualification alongside insecurity is that the debt must be more than $10,000. The Pacific Best Relief process is a comprehensive one which will include a dedicated agent working with you. A lower amount does not cost effective for either of two parties.
The debt relief services are not available in every state. The comprehensive list can be found anywhere on the internet.
Debt Relief Process:
The Pacific Debt Relief ensures that you pay an amount lower than what you owe currently. The process starts when you call the Pacific Relief office. The call will the forwarded to a debt relief counsellor, who will discuss whether it is okay for you to take this step or not.
After agreeing to enter the relief process, you will cease your debt payment to your lender and invest the amount in an insured special fund account FDIC. The funds will grow in amount and the account manager will now begin negotiations on your behalf with the creditor.
Consulting a debt reliever is not a small decision. You need to call Pacific Debt Relief and you will hear a debt counsellor. This debt counsellor will then assess your monthly debt expense and the monthly income that you have.
Pacific Relief will work out the best payment that suits your budget. The payment will be lesser than what you are paying now.
During The Process:
Your credit score will suffer during the process. As the main objective of Pacific Relief is not to better your credit score but to help you repay your loan as quickly as possible. The relief process will ask you to cease your payments and invest it in the FDIC account.
During the process, a client care manager will answer any question that you might have in your mind. And once the funds start to grow, the account manager will negotiate with your creditor on a lower amount. The agreement will be done on your consent only.
The philosophy behind Pacific Debt Relief program is to pay your debts at a lower cost and an early deadline. While working with the reliever, you will witness a short-term hit on your credit score.
But in long run, the credit score gets better because you do not have any debt at all. A debt free life is better than ensuring a higher credit score by paying in instalments.