Why Chose Hope Credit Solutions?
We have 1000's of relationships with creditors to Leverage Benefits for You:
When you go on an HCS debt management program, we use our relationships within a wide network of creditors to negotiate benefits that can save you money;through benefits such as reduced interest rates and elimination of late fees.
Once you're on a plan, you can experience the wonderful feeling of relief with reduced collection calls and fewer bills to pay (we consolidate your payments). You will also have the peace of mind of knowing that you have an advocate on your side going forward.
Our advanced technology and industry expertise allows us to efficiently and reliably process payments to creditors each and every month. HCS uses a variety of industry-standard security measures, including firewalls, encryption and authentication tools, and Secure Socket Layer (SSL) transmission technology to maintain the confidentiality of your personal information.
Hope Credit Solutions Certified Financial Counselors are fully trained, very experienced and accredited through IAPDA International Association Professional Debt Arbitrators and Dun and Bradstreet. Our financial counselors are compassionate and focus on your situation and needs whether they work with you over the phone or online. Their success is measured by your success in getting debt relief.
HCS Debt Solutions uses the latest technology to benefit our clients. For those on one of our Debt Management Programs, we utilize Electronic Funds Transfer (EFT), auto-debit to their bank account, and electronic communication with clients and their creditors. You can call us toll-free from anywhere in the United States, contact us via the Internet, or access your account information on our website, www.incharge.org. We strive to continuously improve our technology and processes to provide you with the best service possible.
HCS is dedicated to providing the highest level of quality while operating under the most stringent of professional guidelines. As part of our commitment to excellence, HCS undergoes independent audits, is accredited through the IAPDA and Dun & Bradstreet.
HCS is licensed to do business in all states where clients are solicited. Several states conduct regular on-site audits of the agency's operations as a condition of providing services to their residents. In addition, the agency's Compliance Department conducts internal audits of compliance with state laws which are reported to the Audit Committee of the Board of Directors.
Each year we engage an outside CPA firm to conduct independent financial audits of both our trust and operating accounts. Outside auditors report directly to the Audit Committee of the Board of Directors.
We demonstrate our ongoing commitment to the community through extensive local partnerships and outreach initiatives, and where dedicated to measurement and research, and frequently publish outcome data to validate the effectiveness of our work.
Services
Q:What exactly are you offering?
A: In short, the chance at the peace of mind that comes with living debt-free. Our services includes dealing with creditors on your behalf, negotiating for the lowest possible balance, and training on how to maintain a debt-free lifestyle.
For a more detailed description of our services, please visit our Services page.
New Services
Here's how it works:
Step One:
We will call all your creditors to confirm the balance of your debts, file a Request to Cease Verbal Communication on your behalf, and brief you on your options.
Step Two:
Once we determine the best method for repayment, we will work out a minimum monthly payment that is comfortable for you and make an escrow account to accumulate the funds.
Step Three:
While you live your life and continue adding funds to your escrow, we will be contacting your creditors on a monthly basis to keep them informed on your progress.
Step Four:
Once a settlment is accepted by your creditors, we will request a letter of confirmation stating they have accepted it as payment in full and will report your account to credit bureaus as paid.
Step Five:
As a bonus for being our client, we will personally investigate your credit reports from all three major bureaus for any entries with errors and have them corrected.
Solutions
Q:What options do I have?
A: There are a few options when it comes to debts, namely:
Debt Consolidation, Consumer Credit Counseling Services, Debt Settlement, and Bankruptcy.
Each one has it's pro's and con's which we will go over with you in detail.
Debt consolidation loans can be helpful to individuals with debt. This loan is an easy way to gather all unsecured debts into one easy to manage debt. Debtors can get lower interest rates that will help lower their monthly payments. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan. Debt consolidation can simply be from a number of unsecured loans into another unsecured loan, but more often it involves a secured loan against an asset that serves as collateral, most commonly a house.
Consumers may end up paying more money over a longer time frame if the consolidation loan is not properly handled. Also, a late payment may increase the interest rate.
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Consumer Credit Counseling Service (CCCS) organized in the early 1980s to recover money from consumers who had fallen behind on their payments. Today, more than half of all consumers who begin with a CCCS program fail to finish. The reason is simple: CCCS companies work for the creditors;they seek to collect as much money as they can and typically charge a fee for their service.
In the simplest terms, it's debt management. A credit counselor will sit down with you and look over what you owe, and in most cases they will help you create a debt management plan (DMP). When you enter into a DMP, your credit counselor will negotiate with your creditors and explain that you are working on paying your debts. Usually your credit counselor can get your creditors to reduce your interest rates. CCCS agencies determine how much consumers can afford to pay toward their debts each month. They then negotiate with creditors to get them to accept lower monthly payments until all debts are paid. The consumer signs an agreement promising not to incur any more debt until the current debt is paid off and makes a single monthly payment.
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Also known as Debt Arbitration or Debt Negotiation is an aggressive approach to debt reduction, which may be appropriate for debtors with serious amount of debt and are considering bankruptcy. Hope Credit Solutions negotiates with the creditors to settle the debt for a lower amount than owed, as the debtor saves their money for a lump-sum settlement payment. During the creditor debt settlement process, the debtor will obtain a letter from the creditor stating the debt obligation was fulfilled. The creditor will typically make a report to the credit bureaus that the debt has been Paid or Settled. We understand the stress and struggle of living with an overwhelming amount of debt, and our goal is to reduce and consolidate your debt so that you can begin living the lifestyle you've been dreaming about.
Eligible Accounts:
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Filing for personal bankruptcy is a painful option of last resort for most people. So much so it may be hard to even look at or consider. But taking a look at what your options are now may serve as a sobering wake up call to addressing your situation before it's too late. If you're already facing bankruptcy it's time to consider what type to file. Personal bankruptcy is an individual's legally declared inability or impairment to pay their creditors. Because bankruptcy cases fall under federal jurisdiction, they are always filed in U.S. Bankruptcy Court. The specific criteria for each case vary by state. Bankruptcy can be a long process of gathering data and court dates. Consumers still may end up paying the full balance of their debts.
Chapter 7 Bankruptcy
Depending on your situation Chapter 7 may allow you to keep your property while erasing your debt. You are assigned someone to your account who you sell your assets to pay off debts. Personal property such as clothing, household goods, older cars and one's home is exempt from liquidation in some states. Debtors surrender their non-exempt property to a bankruptcy trustee, who liquidates the property and distributes the proceeds to creditors.
Chapter 11 Bankruptcy
Typically involves a corporation, business partnership, or individuals with substantial debts and assets. Business owners propose a reorganization plan to keep their business alive and pay creditors over time. The person retains their assets and continues to manage their day-to-day finances while the court works out a repayment plan with the creditors.
Chapter 13 Bankruptcy
Chapter 13 works where you avoid contact with your creditors and your secured debt is now paid through one Chapter 13 trustee. Helps consumers with regular source of income devise a payment plan to repay their debts;however, doing so often requires hiring an attorney. Debtors retain ownership and possession of all their assets but must devote some portion of their future income to repaying their creditors.
About us
We are Hope Credit Solutions, Inc, an industry leader in debt counseling, and we strive to do more than just settle debt. We prepare our clients by giving them the tools needed to remain debt-free moving forward by empowering them with the knowledge to make sound financial decisions. Our debt negotiation process is designed to help settle various types of unsecured debts, in order to save our clients thousands of dollars.
Our team of industry experts maintain a cooperative relationship with the creditors to provide the best possible results for our client's debt situation. Creditors are always looking to avoid the ineffective and costly efforts of an outside collection company. So they work with us instead, to reduce our client's debt balances.
Our primary goal is to help our clients achieve a debt free lifestyle. We build our debt relief programs with affordable payment plans, based upon our clients' personal financial situations. The majority of our payment plans are designed to eliminate our clients' enrolled unsecured debt in 12 to 36 months.
Contact us
Hope Credit Solutions, Inc.
13151 Emily Rd #100
Dallas, TX 75240
Phone: 877.404.7606
Fax: 866.596.4423
Email: cs@hopecreditsolutions.com
Customer Services Department: 877.404.7606
Client Relations Department: 972.918.9779
FAQ
Here is a list of commonly asked questions. If you do not see your question listed, please contact us through email or phone located in the About us section.
- Does Debt management affect my credit?
- Will I still be able to use my credit cards?
- Who do I contact once I am enrolled into the program?
- What do I tell the creditors that continue to call?
- What happens if my account is sold to another collections agency?
- How do I file a complaint against a creditor that continues to harass?
- What happens to my creditors while I am on the program?
- How long will it take to settle my debts?
- How much money can I save?
- Do I qualify?
- What are the fees for your service, and when are they due?
- What debts qualify for the program?
- Why shouldn't I just file bankruptcy?
- How does Debt Settlement compare to Debt Consolidation and Consumer Credit Counseling?
Does Debt management affect my credit?
While on the program, your credit will be negatively affected, however if you are currently behind on payments, your credit is already impaired. To be considered credit-worthy again, you must drastically reduce or eliminate your debt. Our primary goal is to help our Clients get out of debt as quickly as possible and get back on their feet financially. While good credit is a very important thing to have and maintain, it is of secondary importance to becoming debt free. Once you graduate from the program, and become debt free, within months you should see an overall improvement in your credit score.
Will I still be able to use my credit cards?
All unsecured accounts in the program must be closed as a condition of participation in our Debt Settlement Program. Clients may keep ONE emergency credit card. Use of this card must be restricted to emergency purposes. Your objective is to pay off old debts, so you can't take on new ones. Part of our negotiation process is to request that creditors reflect your accounts as having been paid or having been settled, with zero balances. One assessment factor that creditors use in evaluating an individual's or entities credit-worthiness is their debt-to-income ratio: the amount of debt compared to income. As a Debt Settlement Program reduces your debt, your debt-to-income ratio will improve. Additionally, attempting to resolve a debt through settlement is looked upon more favorably than filing bankruptcy.
Who do I contact once I am enrolled into the program?
The Customer Service Department at HCS will be your point of contact and available to assist you with any questions or concerns.
CS@hopecreditsolutions.com or call 1-877-404-7606
What do I tell the creditors that continue to call?
We cannot guarantee that the creditors will stop calling the Client even though they are being represented by an attorney. Once you have enrolled in a management program with Hope Credit Solutions. We have provided you with a cease and desist (cease verbal communication letter), a courtesy engagement and a notice to validate my debt along with a Power of Attorney giving Hope Credit Solutions limited power of attorney to communicate with you with the reference to my account and the ability to negotiate a settlement on my behalf. In the future I would appreciate it if you would not verbally contact me but rather contact Hope Credit Solutions at 877-404-7606. Should you verbally contact me again I will file a complaint with the FTC. If you receive further calls, you should refer them to our Client Relation Department at 877-404-7606. The Client Relations Department will handle the situation and advise the creditor once again to cease communication with you.
Note: Hope Credit Solutions works directly for you the client - not the creditor - Creditors will tell you information that is not correct trying to squeeze a payment from you. Thankfully we live in a country that allows us to have a choice. The laws set forth from Congress to creditors loaning unsecured money and the guidelines of the "Fair Debt Practices Act" that must be followed. Below are some of the examples you may be told from creditors in an attempt to collect a debt and it's not unusual for creditors to make statements such as, "We've never heard of Hope Credit Solutions, We don't deal with Hope Credit Solutions," or we haven't been contacted by anyone, etc. etc. They often make threats in an attempt to scare and intimidate you. Sometimes they even break the law.
What happens if my account is sold to another collections agency?
You should also know that accounts are frequently sold. We may prevent one collection agency from contacting you. However, they may sell your account to another agency and the process will unfortunately have to be repeated. We require you to let us know when you receive collection notices so we can contact the "new" collection agency. Any calls received from Creditors please provide the following information: The name of the person calling, Phone number, and Name of the original creditor. You may email the information to clientrelations@hopecreditsolutions.com, fax to 214-735-8591 or mail to Hope Credit Solutions at PO Box 835174, Richardson, TX 75083.
How do I file a complaint against a creditor that continues to harass?
- Go online from a computer and type in http://www.ftc.gov in the subject line
- Click the "consumer protection" tab;it should be the fourth tab across the top from left to right. It is the tab on the top bar of options
- Click the "file a complaint" tab from the drop down tab bar that shows up
- On the right side of the screen you will see complaint assistant. It is a large picture that you cannot miss. Once you click on it questions will appear. The FTC estimates that it will take 5 minutes to file a formal complaint.
What happens to my creditors while I am on the program?
Instead of paying your creditors each month, we will electronically transfer money from your bank account to your personal Debt Settlement Savings Account according to the payment schedule in your contract. When you enroll into our programs we will contact your creditors each month and update them on your progress. We also give each creditor an updated projected payment date that they can expect to receive their lump sum settlement. Once enough money is accumulated, HCS will negotiate with the creditor's one at a time and send the client a confirmation letter from the creditor stating they accept the proposed settlement as "paid or having been settled in full, with zero balances.
How long will it take to settle my debts?
The time required to settle your debt depends upon your situation. One of our Credit Specialists can provide you an estimate during your free consultation. The program is designed to be completed within 6 to 48 months.
How much money can I save?
It will depend on your specific financial situation. Please use our debt calculator or debt-to income calculators to see the potential savings.
Do I qualify?
Our program is custom-tailored to fit each Client's budget and is based on the amount of your debt. To qualify for our debt settlement program, you must have at least $10,000 in unsecured debt, a desire to become debt-free, and be able to explain your personal financial hardship. Many Clients find our program to be not only affordable but the fastest solution for getting out of debt.
What are the fees for your service, and when are they due?
We offer a FREE consultation. If you participate in our Debt Settlement Program, fees will be assessed according to the amount of your debt. We work with you to provide a manageable payment schedule. During your free consultation, a Credit Specialist will provide you detailed information on both services and fees. Most clients are able to reduce their debt 40-60%!
What debts qualify for the program?
You may use Debt Settlement for the settlement of unsecured debt such as credit cards, personal loans and signature loans. Debt Settlement cannot be used with secured debt, such as government loans, home loans, auto loans and student loans. Listed below qualify to be enrolled.
- Credit Cards
- Personal Loans
- Repossession balances
- Past due utilities
- Attorney fees
- Vendors for the self employed
- Balances from previous rentals or broken lease agreements
- Hospital bills
- Credit Unions
Why shouldn't I just file bankruptcy?
Bankruptcy will stay on your credit report for 10 years or longer. After going through a bankruptcy, many find it difficult to obtain new credit initially, which if approved, may only be available to you at higher interest rates. Many people faced with financial hardship rush to bankruptcy as a method of resolving their debt concerns, although their problems might have other solutions. We believe bankruptcy should only be used as a last resort;pursued only after all other debt relief remedies have been explored.
How does Debt Settlement compare to Debt Consolidation and Consumer Credit Counseling?
Under Debt Settlement we negotiate with your creditors to settle your debt for amounts significantly less than you owe;typically we can settle your debts for 40-60% of your outstanding balances, saving you money on debt principal and interest, and providing you the opportunity to pay-off your debt faster.
Debt Consolidation involves pursuing a new loan in an amount sufficient to pay-off all your existing debts. One of the challenges with Debt Consolidation is that it involves qualifying for a new loan;generally it is difficult for individuals already in debt, or for those who have poor credit, to qualify for new loans. Additionally, under Debt Consolidation you are still responsible for the entire amounts of all your existing debts.
Consumer Credit Counseling Agencies claim to be non-profit agencies that, for an 8-15% fee paid by the lender, can sometimes lengthen the term of your debt and so reduce some of your interest;however, your outstanding debt principal is not reduced. Additionally, this approach is typically a longer-term approach to debt resolution, taking 5-12 years compared to Debt Settlement, which can be completed in 4 years or less.