ABOUT OUR COMPANY

MY DEBIT IQ, LLC IS AN AFFILIATE OF

NEW BEGINNINGS DEBT SETTLEMENT, LLC.

NEW BEGINNINGS IS THE ONLY SETTLEMENT COMPANY IN THE NATION LICENSED, AND/OR BONDED IN EVERY STATE WE 

DO BUSINESS IN.

COMPANY OVERVIEW

NEW BEGINNINGS is a national debt settlement company specializing in helping individuals who are experiencing financial hardships.  We have established a highly effective debt settlement/negotiation strategy, which allows our clients to rid themselves of overbearing debt. This strategy has helped thousands of American families to avoid having to file for bankruptcy. Our trained negotiators have an exclusive relationship and an excellent track record of settling millions of dollars of debt with Creditors, Banks, and Collection Agencies.

Our Negotiators can resolve the battle between You and your Creditors.  By negotiating on your behalf we make sure we get you the best settlement, which is affordable within your budget.  Our goal is to get you the fastest debt relief possible, so that you can focus on rebuilding your life financially.  In addition, the Creditors are satisfied by getting paid on the account, which allows them to avoid the massive cost of time, money and human resources involved in collection efforts.  What are the results?  We alleviate you of your debt burdens and you are DEBT-FREE! 

Upon being accepted into the program, we will notify your Creditors to stop calling you and contact us instead.  All correspondence from Creditors regarding your debt thereafter directed to NEW BEGINNINGS.  Our experienced staff will be in direct contact with your Creditors on your behalf.  We will get you out of your debt faster than you thought possible.  Our program allows you to pay back a fraction of what you owe, up to 75%, and we will get you out of debt as soon as possible, normally between 12 to 36 months, instead of decades. 

NEW BEGINNINGS is committed to providing the highest level of customer service.  The success of our Debt Settlement Program rests solely on the relationships we build with our clients.  These relationships are built on trust, understanding, and mutual respect. We lead our clients through the web of overwhelming financial destruction onto the road of financial freedom. 

The Program offers the following benefits:

•     Reduce Up To 75% of Your Debt

•     Avoid Bankruptcy

•     End Undue Stress

•     Stop Creditor Harassment

•     Eliminate Your Debt the Fastest, Safest Way Possible

•     Rebuild Your Financial Foundation

•     Keep Control over the Entire Process

•     Maintain Privacy over Your Financial Affairs

•     Credit Correction

OPTIONS  

1.      Paying Creditors as Originally Agreed/Hope for the Best & Do Nothing

·         Interest rates usually average over 18% and creditors can raise rates at any time

·         You'll pay nearly 50% of your original balance in interest alone over the first 3 years. You are not making a dent on your principal balance.

·         If your rates are 25% or higher, it is physically impossible to pay off your debt by making minimum payments

·         You will take 20 to 40 years before becoming debt free with little room for obtaining additional credit

·         If you've already stopped making payments, you are destroying your credit while not eliminating any of your debt in the process

2.      File Bankruptcy

·         Represent a severe negative impact on your credit rating for 7-10 years.

·         Can cost up to $2,500 to file.

·         May have a negative impact on your employment status.

·         In a Chapter 13, you may end up paying 75 - 100% of your debts back

·         Will eliminate all of your unsecured debt in a Chapter 7, but it is much more difficult to qualify for under the new bankruptcy laws.

·         May result in higher interest rates on future loans.

·         Carries a negative stigma, mental stress, and other burdens.

·         Truly a 'last resort'. Bankruptcy should be avoided if at all possible.

·         Chapter 13 completion rates average only 32%.  

3.      Debt Consolidation Loans

·         Need to qualify first.

·         Requires ownership of Real Estate property or a pledge of collateral.

·         Home Equity loan reduces future equity available in your property.

·         Eliminates your credit card balances.

·         Missing payments could cause you to lose your home or the collateral you pledged

·         A transaction fee is usually required upon closing or is built into the interest rates.

·         Payback can be 10-20 years depending on debt balance and ability to pay back loan.

·         You will pay back the full amount of credit card balances.

·         Bottom line: You are exchanging your unsecured debts for a secured debt - a big risk.  

4.      Credit Counseling/Debt Management

·         These companies are generally funded by the credit card companies themselves.

·         They are just another form of 'collection agency' to take your money

·         They will consolidate your bills into one monthly payment and lower interest rates.

·         Your Balance will often take 3-7 years to pay down.

·         Pay over 25% of principal balance in interest fees over the first three years.

·         You'll end up paying back your full balance plus interest.

·         These companies still charge a monthly 'donation', typically $20-$50

·         Overall fees over an average credit counseling program are equivalent to or greater than those of a debt settlement programs

·         Negative marks remain on your credit report for up to 7 years

·         This is also viewed by lending institutions as Chapter 13 Bankruptcy

·         The average completion rate of consumer credit counseling is approximately 26%

5.      Debt Settlement/Negotiation

·         Rapidly becoming the top method for consumers to get rid of problem debt.

·         Negotiates based on your principal balance, irrespective of the interest and finance charges your creditors are trying to add on your account.

·         Independent companies not affiliated with your creditors working for your best interests.

·         Charges a fee to get started but offers financing options.

·         Client's debt is paid off in anywhere from 12- 36 months depending on cash availability.

·         Will receive an 'open delinquency' on your credit until debts are settled.

·         Affects credit much like debt consolidation firms except the settlement is ultimately paid by the consumer directly to the creditor, unlike with a consolidation company.

·         Lowers your debt to income ratio more quickly than Consumer Credit Counseling, which represents a significant factor in your ability to quality for a loan.

P. O. Box 823 , Clearlake Oaks, Ca. 95423

Toll Free:  888 998-1226 – Direct:  707 998-1226

Email:  info@mydebitiq.com   Website:  http://www.mydebtiq.com

More details below.