A Debt Freedom Program (DFP) is a simple, efficient, and money-saving way to pay off your debt many years earlier than you would on your own. We look at all your unsecured debt (unsecured means the debt is not tied to something you own-house, boat, car, etc.) and your budget to see if the program is a fit for you. We know what the creditors will allow on this type of program, so we are able to give you good direction as to the benefits, costs and timeframe of your DFP.

If the DFP is a fit for you, we start the process of setting up the program with you and your creditors. We will pay your creditors on your behalf after we receive a payment from you. The single payment is made by you to us on the same day each month (we have 5 dates to choose from). The easiest way for you to allow us access to the program funds is by using an automatic deduction from an account. We then take the payment and send the required amount to each of your creditors.

You will still receive your statements from the creditors each month so you can manage your progress on the program. Also, we will send you a monthly summary statement showing the payments we have made to your creditors on your behalf.

2. Are most creditors willing to work with you?

As a Debt Freedom Program, we have developed a relationship with thousands of creditors. Based on our relationship and the creditors pre-arranged requirements, we know exactly what is required for you to receive the maximum benefit from our Debt Freedom Program.

3. Can I just keep paying off my creditors on my own?

Yes you can. That is exactly what the enemy wants you to do. Chances are most of your debt payment has been going to interest. The balance you have on your accounts has not gone down or has gone down very little. The enemy wants to keep you in debt bondage. If you continue to make the minimum payments as required by the creditor, it will take you many, many years to pay off your debt, if ever.

4. Why can't I just negotiate with creditors on my own?

In some cases you can negotiate with your creditors. The arrangements you will make with them will be for a limited amount of time. This could be anywhere from 6 months to a year. Generally this means a lower payment which in turn means a much, much longer pay off. Unfortunately, if for any reason the creditor decides not to honor that arrangement, you will be stuck right back where you started, or worse. Most creditors will not allow you on a Debt Management Program for a minimum 5 years after you have been on a program either through the creditor or other debt program.

5. Should I try to get a loan?

Obtaining a loan to pay off your debt is just swapping debt for debt. It may have a minimal change on your monthly payment or even your interest rate, but most importantly, it has no change on your budgeting habits. This is an area, among others, that needs to be altered in order to become debt free.

6. How does a Debt Freedom Program differ from Debt Settlement?

In a debt settlement, you pay only a portion of the total debt owed. This is done through negotiations with the creditors. During this time, no payments are made to your creditors. There is also no guarantee that the creditors will accept the terms of the negotiations. This process has a dramatic impact on your credit score. There is also a high cost involved with debt settlement. Generally the cost is 15%-30% of the total debt owed. Also, the amount not paid is viewed as taxable income by the government at the end of the year.

The Debt Freedom Program is a 100% pay back to all your creditors. You will be making payments through our credit office to your creditors on time each month. Creditors look at our service as an alternative for consumers to solve their financial problems rather than suffer the stigma of bankruptcy.

7. Do you think I'd be better off declaring bankruptcy?

Bankruptcy should only be considered after every other option has been exhausted. With the new laws on bankruptcy that took effect October 17, 2005 it is no longer an easy process to declare bankruptcy. Additionally, believers are still required by God to repay their creditors even after bankruptcy (Psalm 37:21).

DFC can help you save those court costs and attorney fees. Please call one of our Certified Credit Counselors at 800-624-9747 if you are considering bankruptcy to find out about alternatives.