Who is the forensic mitigation program for? This program is for individuals who are
in true financial hardship and cannot make minimum monthly payments
to their creditors.
Will this program have a negative effect on my credit?
Forensic Mitigation will have a negative effect on your
credit. How severe your credit will be affected depends on your
situation prior to enrolling. As settlements are paid, you will
receive documents showing that the creditor has been paid and the
account is at a zero balance. As your accounts are settled and your
debt ratio improves, your credit rating will begin to re-establish,
provided that the rest of your credit is clean. The main focus of our
program is getting you out of debt as soon as possible.
When does IDS Partners begin negotiating down my debt?
In most cases, once you have retained their services, they
will begin negotiating with your creditors. Your creditors will be
notified that they are representing you. In some cases, depending on
certain circumstances (total debt, creditor, etc), they will not begin
negotiating until a month or two into the program.
Will debt settlement stop creditors from harassing me?
Anytime you are unable to pay your creditors, a
creditor/collector has the right to call you. Our partners will provide you with
information in which will help you in dealing
with collector calls. It is important that you follow those
instructions if you are receiving too many calls and it is extremely
important to always communicate with your Account Manager about the
calls you are getting. Your Account Manager will help you to slow the
calls significantly, but you must follow the instructions they give
you. We would also like you to be aware that there are laws in place which
protect you from creditor harassment.
What is debt resolution / forensic mitigation?
Debt Resolution is a program which a law firm customizes
a payment plan for you which allows you to pay your creditors. That law
firm will deal directly with your creditors and collectors on your
behalf and in some cases are able to decrease the amount of debt which you owe.
What types of debt can be resolved?
Most unsecured debt can be resolved, including credit
cards, furniture loans, personal loans, jewelry loans, medical bills,
etc. Please speak with one of our consultants for specific details.
Can I get sued? What if I get sued?
Any time you are in hardship and unable to pay a creditor,
you can be sued. This can happen whether you are on a program or
not. In the event you do get sued, make sure that you fax the
documents to the attorney immediately. While our attorneys are not able to stop a creditor
from suing you, they will definitely be able to begin negotiating your
account and attempt to close it out ASAP. Once they receive the
documents on their end, they will immediately contact the creditor to
negotiate. They will also contact you within to
discuss everything. If you don’t fax the documents to them within the
appropriate time frame, it may be more difficult to settle with the
creditor. Keep in mind that IDS is a firm with partnered attorneys in
all 50 states, and we can always get you on the phone with one of our
state licensed attorneys in your jurisdiction if you need legal advice.
What if my creditors will not settle?
In our experience, most creditors are willing to settle.
Creditors know that if they are unwilling to negotiate the terms of your
debt, they will most likely get nothing. If a creditor does not
accept an offer, they will typically give a counter offer.
Additionally, they may also offer a term settlement, which will allow
you to make payments over time. Creditors know that if you choose to
file bankruptcy, they will receive absolutely nothing.