WHY CHOOSE GREENPOINTE FINANCIAL

We Are Experienced In Settling Advanced Consumer Debt Collections

SITUATION

Do you have unsecured debt that has been closed by the original creditor due to non-payment, collections, or charged-off accounts? Moreover, have any of the described situations escalated where you are being sued, or has a court already awarded a judgment against you?

If the answer is yes to any of the above questions, and you are considering consumer credit counseling service (CCCS) or bankruptcy, there is a far better solution.

DEBT SETTLEMENT

Overview

Preferred by most debtors, Debt Settlement is an arrangement wherein the borrower and creditor arrive at a reduced payoff balance. Once the remaining difference has been satisfied (typically within 120 days or less), the debt is considered paid in full, a/k/a/ settled.

And a successful settlement occurs when the creditors or collection company agrees to forgive a substantial percentage of the total account balance.

THE GREENPOINTE DIFFERENCE

Our Approach & Process

At GreenPointe Financial, our goal is to make the debt settlement process an easy and successful experience. Moreover, our systematic approach to debt reduction ensures that our clients get the most thorough service available.

Also, unlike other debt settlement companies, our program is uniquely integrated with credit repair, leaving clients with the best credit score possible. We also offer low flat-fee pricing, and clients control their money throughout the process.

Thus, to provide our clients with the most effective service possible, as mentioned at GreenPointe, our debt settlement programs are enhanced with credit repair interventions.

Moreover, the reasons we have incorporated this service is not only to get the best results for our clients but, first, it is also to protect their future legal right to sue an original creditor or debt collector if they are found to be willfully non-compliant with the statutes that govern their business.

Second, a debtor has the right to know if the collection company can legally pursue the debt, and a third should always demand verification of the alleged account.

Therefore, by methodically implementing the described credit repair procedures into the debt settlement process, the collecting agent is typically more inclined to meet our/your presented lump-sum or short-term payoff conditions.

PROCESS OVERVIEW

STEP 1 

After receiving all necessary acknowledgments and agreements to enroll in our program, the processing department will analyze your credit files to assess your situation accurately.

STEP 2

To evaluate your ability to pay the outstanding obligations, we will review your monthly budget to determine your debt-to-income ratio (DTI), which is the percentage of your monthly income versus total outgoing debt. For example, If a consumer’s gross income is $6,000.00, and their total monthly obligations are $2,000.00, their DTI would equal .33 percent.

STEP 3

Upon the expiring of he 3 – 5 day recession period, we will begin working on your case file. This includes (to keep from voiding your legal rights) challenging the relevant credit bureaus and ensuring legal assignment by auditing the creditor or collection company.

Once this preliminary work has been completed, and if still necessary, the debt negotiation process will begin with the original creditor, debt buyer, and or assigned debt collection attorney.

Common Questions

If you are still making minimum payments and have yet to fall behind on your bills yet, you won’t be able to settle your debt(s). Because an original creditor or collection company isn’t going to accept less than what’s due if there is reason to believe they can continue to charge interest, plus late fees, and still collect the entire outstanding balance.

In other words, debt settlement is viable only when you have numerous missed payments, collections, charge-offs, or judgments. Thus, settlement offers are often accepted if the creditor believes you won’t or can’t pay.

A Debt Settlement Program focuses on unsecured debt, credit card bills, medical bills, etc. However, home and current auto loans do not; because these credit lines are secured and can be foreclosed on or repossessed.

Hence, please find below a list of qualified and unacceptable obligations.

WHAT TYPES OF DEBT QUALIFY FOR DEBT SETTLEMENT

A Debt Settlement Program focuses on unsecured debt, credit card bills, medical bills, etc. However, a primary home and current auto loans do not; because these credit lines are secured and can be foreclosed on or repossessed.

Hence, please find below a list of qualified and unacceptable obligations.

Qualified Financial Obligations

• Store Cards – EG. Home Depot
• Signature Loans
• Judgment – Service of Process (You’ve Been Served)
• Judgment – In Process (Judgment Hasn’t Been Finalized)
• Post-Judgment – The Court Has Ruled In Favor of the Creditor or Debt Buyer

Unqualified Financial Obligations

• Mortgages – First, Second Position Etc.
• NSF/ Insufficient Funds
• Recent Auto Repossessions
• Traffic & Parking Tickets

WHAT IS THE UPSIDE TO NEGOATIATING A LUMP-SUM SETTLEMENT AGREEMENT?

1. Under this arrangement, a debtor can negotiate a substantially better discount.

2. Debt Settlement is generally a faster and less expensive debt relief option than either debt management programs, consolidation, or bankruptcy.

3. For the debtor, the matter is resolved, and they can move on with life.

4. Entering into a Debt Settlement agreement can stave off a possible or active legal proceeding.

5. The Creditor has received some compensation immediately, versus setting up a payment arrangement, risking the debtor not paying or filing bankruptcy, in which case they would receive nothing.

WHAT IS THE DOWNSIDE TO NEGOATIATING A LUMP-SUM SETTLEMENT AGREEMENT?

The downside to this type of debt negotiation is if the reduction is more than $600.00, the creditor may report the transaction to the IRS. And doing so on your subsequent tax return filing would have to include the discounted difference as a Discharge of Indebtedness Income.

And as you may read online or hear from the less informed, that debt settlement can harm your credit score. However, if you already have missed payments, collections, charge-offs, or judgments, the negative payment history likely is already reported to the credit reporting agencies (CRAs).

Thus, if this is the case, you will be better off resolving the outstanding obligation while repairing your credit simultaneously.

Occasionally, the question of can GreenPointe negotiate my Debt Settlement, and the answer is if it meets the criteria! However, it isn’t a right, and there is no guarantee that an original creditor or debt buyer will accept your or even our offer.

Yet, by employing GreenPointe, you can rest assured that we have experience navigating through the process, and working with conscientious clients, we have been able to post above-average results.