Debt That Qualifies
1.Credit Cards
2.Store Cards
3.Unsecured Bank Loans
4.Hospital Bills
5.Personal Loans
6.Uncollateralized Business Loans
7. Advertising bills
8.Collection Accounts
9. Repossession Balances
10. Attorney Fees

Non Qualified Debt
1.Student Loans
2.Mortgage Loans
3.Car Loans
4.Taxes
5.Less than $5,000 total credit card debt
6. Individual accounts under $500
7. Military accounts such as Military Star.
8. Credit Unions where there is a secured account
9. Any account that a consumer has received a summons or judgment on.
10. Pay Day Loans

TOP 5 CAUSES OF DEBT
Reduced Income/Job Loss
Divorce
Poor Money Management
Underemployment
Medical Expenses

PAY IT:
Consolidation Loans: Home Equity Loans are the most popular form of consolidation loans. Essentially you are taking unsecured debt and securing it to real property. Typically this isn't advisable, because you may be encumbering your property with more debt than it is worth. You may also be giving up equity that would have been protected if you filed bankruptcy. Remember you want to get out of debt not acquire more debt.

Signature Loans: You may also be able to consolidate your debt by getting a loan from your 401K account. This usually isn't advisable either because your money in a 401k account is protected even if you are forced to file bankruptcy. Ask our counselor for more details regarding these options.

SETTLE IT:
Consumer Credit Counseling companies work with your creditors to negotiate lower interest rates. This can be helpful if you are paying over 10-12% interest on a monthly basis. The real negative to this is that even though you have a lower interest rate the bulk of your payment is still going to interest. Your balances remain the same so if you can only afford the new minimum payments offered by these companies you will still be in debt for a very long time.

Debt Settlement dramatically reduces both your balances and your monthly payment. The term "debt settlement" means negotiating with a creditor to reduce the amount of a delinquent debt down to a lower amount, that the debtor can then pay in order to fully satisfy (or pay off) the debt. The primary benefits of this strategy are to help you become debt free sooner, pay your debts on terms structured to your specific budget, avoid bankruptcy, and pay less than you would by making the minimum monthly payments.

BANKRUPT IT:
Chapter 7 Bankruptcy - A proceeding under federal law whereby a person's assets are turned over to control of a trustee and often used to pay off outstanding debts; this usually occurs when someone owes more than they have the ability to repay. They must qualify under the new 2005 Bankruptcy Abuse and Credit Protection Act. You cannot file for Chapter 7 Bankruptcy if you obtained a discharge of your debts within the last eight years.

Chapter 13 Bankruptcy - Allows a borrower with a stable income and limited debt, to pay off bills under a court approved repayment plan over a 36 to 60 month period rather than surrender any property. You may not file for Chapter 13 Bankuptcy is you obtained a court approved repayment plan within the last six years. Both types of bankruptcy generally eliminate unsecured debts and stop foreclosures, repossessions and debt collection activities. However, you are still liable for child support, alimony, fines, taxes and some student loan obligations. Bankruptcy is to be undertaken only with very serious consideration because it severely limits future access to credit such as a home mortgage and car loans. Bankruptcy may be reported on your credit report for up to 10 years.

Eagle Debt Relief will first work out a budget with you to determine how much you can afford on a monthly basis to set aside for debt settlement. The numbers below represent a typical 36 month plan with our average savings.

Debt Amount: $50,000 x .60 = $30,000 Settled Amount

Current Monthly Payment: $1,200 =$833.33 New Monthly Payment

Savings Account:
Once you enroll in the program you will immediately begin to deposit money into a new third party savings account. From that point on the law firm takes care of everything. Since your accounts will not be receiving their monthly payments your accounts will begin to report past due but in a controlled environment. You creditors begin to become very negotiable because you are in control of your money and are willing to work with our law firm on settlements that are very favorable to you.

Negotiations:
Settlement offers are essentially the reduced amount of debt that the debtor is willing to accept in order to fully satisfy (or pay off) the debt. The primary benefits of this strategy again are to help you become debt free sooner, pay your debts on terms structured to your specific budget, avoid bankruptcy, and pay less than you would by making the minimum monthly payments.

Communication:
Once you enroll in our program the law firm takes over communication with your creditors. We cannot promise they will stop calling you but you can take down their name and phone number and give it to your negotiator so that they can communicate on your behalf. The negotiator will contact your creditors, protect your consumer rights, and work to regain peace in your life.


Avoiding Bankruptcy:
At this point in your finances you only have two options left. Settlement and Bankruptcy. Creditors know that going to court will most likely cost them more than the debt you owe and in bankruptcy they will most likely receive nothing in return. That is why they are very motivated to settle accounts outside of court and receive some form of payment, even if it is a reduced amount.

Legal Representation:
Can you attempt to settle with your creditors on your own? Sure, but you won't get the same results that you would with our law firm representing you. The reason you won't get the same results is anything a creditor offers you without representation they are setting legal precedence that they must offer the same to all other customers. With an attorney representing you the settlements are determined on a case by case basis. An when you have a bankruptcy attorney contacting your creditors they know you mean business.

Planning:
When we contact your creditors we let them know that we have established a savings plan that will get them paid approximately half of what they are owed without going to court and in less time then bankruptcy. They are usually willing to work with us because we continue to communicate with them on your progress through out the program and as soon as you have enough money to settle we are working with them directly.

Credit Score:
When you stop paying your creditors as agreed that will begin to reflect on your credit report. Your creditors may report your accounts as past due or charged off. As we begin to settle each account your balances will be paid off and your credit score will gradually improve.

Legal Action:
Your creditors may exercise their rights to collection through the courts. They only have certain rights that you gave them in your original card holder agreement. Our law firm makes sure that all your consumer rights are protected. Most accounts never go to court because the cost to do so usually outweighs the amount they are trying to collect.

Taxes:
You may be taxed for any settlement that you receive. That depends on your financial position at time of settlement. If you are financially insolvent, meaning your debts outweigh your assets you may not be liable for any taxes. We recommend that you contact your local accountant for any tax advise.

Phone Calls:
The original creditor has the right to call any phone number listed on your card holder agreement. We cannot stop those phone calls but recommend you take the name and phone number down of the person who called and give it to our law firm. As a client we will contact them for you both by phone and in writing to make sure they know we are representing you. Once they know who to contact, what are plan is and why it makes sense for them to work with us they will usually stop calling.

Eagle Debt Relief Guarantees that a client’s total debt approved in our program will settle at an overall average savings of 50% or greater of their balances at the time of settlement. If not we will pay the creditor the difference that is over and above 50%. Contact Eagle Debt Relief for more details.

We would like to thank you for the opportunity to help you learn more about debt settlement. If you feel like you our company would be a good fit for you, we would love to help you say goodbye to all your debt.

Eagle Debt Relief Mission statement: "To help all Americans live Debt Free"