The prospect of paying less than you owe — far less in some cases — makes the FCGI – Debt Remediation Process an enticing choice for eliminating debt.

How Does Debt Remediation Work?

Debt Remediation Process is a way of legally requiring the alleged debt collector to produce key documents including evidence such as: 1.) contracts, 2.) original promissory notes, 3.) debt purchase and sales agreements, 4.) original, genuine, free from forgery debt instruments containing your wet ink signature, that prove the alleged debt collectors’ claim that you owe them any money at all.

If the alleged debt collector cannot prove their “standing” to collect on a debt by producing these genuine, original documents, credit applications & negotiable instruments, the alleged debt collector can be completely ignored after sending our specifically crafted series of form letters, notices, and requests for information, qualified written requests (“QWR”), and debt validation/ verification letters (“DVLs”) to the alleged debt collector.

The Foxboro Consulting Group, Inc. Debt Remediation Tools, templates, forms & specifically crafted letters can accomplish these objectives for you.

Debt Settlement – You, or a representative negotiating for you, makes an offer to your creditor to settle the debt for less than what is owed. For example, if you owed $10,000, you might offer the creditor a lump-sum payment of $5,000.

If the creditor accepts the offer, you make the payment and the debt matter seemingly is settled.

We say seemingly, because if you owe more than one creditor, as is often the case, you must go through the process with each one individually, which can be personally time consuming, and demand a lot of paperwork, and follow-up.

So, if you are delinquent on several credit cards or bills (e.g. cable, cell phone, auto loan, medical bills, etc.), you will have to negotiate a settlement with each alleged debt collector, before you are completely out of debt.

In the meantime, you likely will be racking up costly late fees and interest charges on all your debts, and you are watching your FICO credit score plummet from 720 to 540 and lower. In the case of debt settlement Pros and Cons, this is just one of the many Cons associated that make it a dicey choice.

If you are paying a debt settlement company to represent you, here are drawbacks you should consider:

• Additional Fees – Debt settlement companies often encourage you to stop making payments to your creditors while they negotiate a settlement. The late fees, interest and other penalties that follow will be added to the amount you owe already.
• Time Frame – The normal time frame for a debt settlement case is 2–3 years, which means 24–36 months of late fees and penalties added to the amount you owe.
• Impact on Credit Score – Debt settlement will have a negative impact on your credit score. Not paying the full amount is a negative. Missing payments while negotiating a settlement is a negative.
• Impact on Credit Report – The fact that you settled your debt — that is, didn’t pay the full amount — remains on your credit report history for seven years, making it more difficult for you to get credit from any lenders.
• Companies Charge Fees – Debt settlement companies charge a fee, which is usually a percentage of the amount owed, to negotiate on your behalf. The fees generally are 20–25% of the final settlement, so if your final settlement is $5,000, you could owe another $1,000 to $1,250 in fees.
• Lenders May Refuse – Lenders are not obligated to accept settlement offers. In fact, some lenders refuse to work with debt settlement companies.
• Tax Consequences – There could be tax consequences from a debt settlement. The IRS may count whatever amount is forgiven as income and require you to list it on your taxes.

With so many negatives attached to the outcome, many consumers wonder: Does debt settlement really work? We have doubts that it is completely effective, and may not be the optimum solution for you.

For people who feel helpless with their financial situation, and don’t want to declare bankruptcy, the FCGI – Debt Remediation Process could be the short-term answer.

However, if there is a chance to weigh the advantages of the FCGI – Debt Remediation Process vs. debt settlement, the safer choice is Foxboro Consulting Group, Inc. Debt Remediation Process.

Debt Remediation vs. Bankruptcy

Bankruptcy is one of the most feared word in the financial dictionary. It also might be the only way out of trouble for people drowning in debt.
If you tried debt settlement and debt consolidation, and neither is able to eliminate your debt in less than five (5) years, bankruptcy is one alternative. In fact, if you’ve deemed your situation “hopeless” it might even be prudent to look into bankruptcy sooner rather than later. The one major Con is that it could cost you $1,800 to $6,000 in legal fees depending on your particular situation.

The bankruptcy laws were written to give people a fresh start, especially those whose financial troubles were not the result of careless spending, but something unexpected like loss of a job, a divorce, or a catastrophic illness resulting in massive medical bills. Filing for bankruptcy could stop foreclosures, wage garnishing and debt collection activity, while getting rid of unsecured debts.

There are several types of bankruptcy, but the two most popular ones are Chapter 7 and Chapter 13. In Chapter 7, certain assets are considered exempt — home, automobile, retirement savings, some tools, and some home furnishings — but all others are liquidated and the funds used to pay your creditors.

Chapter 13 bankruptcy gives you a chance to reorganize your finances, and come up with a plan to repay all or most of your debt in a time frame of three to five 3–5 years.

Unlike debt settlement and debt consolidation, bankruptcy typically wipes out all unsecured debt.

Although this may seem like a solution to your money problems, it will have sting consequences on your credit report. Bankruptcy remains on your credit report for 10 years, and your FICO credit score will plummet or be destroyed entirely.
If you are planning to finance a home purchase, and or automobile during the next 5-7 years, this method is clearly not the way to go!

It’s difficult to compare the Foxboro Consulting Group, Inc. – Debt Remediation Process, or debt settlement, or debt consolidation vs. bankruptcy, because many state and federal laws that apply to bankruptcy don’t apply to the other three forms of debt relief.

However, it is safe to say that while bankruptcy is a course of last resort, it is still an option worth considering if you’re ready to start over financially. Once again, the one major Con is that it could cost you $1,800 to $6,000 in legal fees depending on your particular situation.

We believe that the Foxboro Consulting Group, Inc. – Debt Remediation Process is a viable way to proceed. We have a track record of actual experience in eliminating debt, and making alleged debt collectors move on to other targets for their debt collection efforts. In one particular instance, our specialists eliminated over $200,000 in credit card debt with several lenders, and negotiated a settlement of under $35,000.00, in most cases, we were able to convince the alleged debt collectors to move on to other “low hanging fruit” targets! Typically, this Debt Remediation Process can take up to 3-5 months of time.

THE FCGI – DEBT REMEDIATION PROCESS OPTIONS

Depending on your financial budget, and your willingness to devout your own personal time, we have developed three specific options from which to choose:

1. You Elect to Do it Yourself – We provide you with the for the notices, templates & form letters and follow-up letters to send to the alleged debt collectors.
The one-time price for this services option is $597.00.

2. Tools, Templates and Form Letters, along with On-line Coaching Forum with Our Debt Remediation Specialist – Our Debt Remediation Specialist will be available to answer your questions, provide on-line “Coaching” tips and suggestions! You will participate in an on-line forum and chat room with 8-12 other participants on a bi-weekly basis for a three (3) month period, which equates to approximately twelve (12) Coaching sessions over the three (3) month period.
The one-time fee for this service option is $1,899.00.

3. Retain Foxboro Consulting Group, Inc. to Conduct the Debt Remediation Process –
The one-time fee for this Service option is $5,989.00.