FREQUENTLY ASKED QUESTIONS

Services AFG Offers:

1. What services do you offer?


We can reduce a client's unsecured debt such as:

Credit cards, store cards, medical bills, dental bills, telephone bills, utilities (i.e. electricity and gas), gym membership dues, gas cards and private student loans (not Federal student loans). AFG also helps eliminate or reduce credit card late charges and interest rates.

 

2. How much can you cut my total debt?

 

Typically, we are able to settle EACH CREDIT CARD ACCOUNT for 30-60% of the total outstanding balance.

3. Do I have to pay anything before you will help me?

AFG offers free consultation over the phone and/or in person.

4. Besides helping with my immediate problems, do you help me avoid financial problems in the future?

We will give you a budget planning worksheet that you must follow in order to avoid financial problems in the future.

5. Are you a non-profit agency?

No, but we do offer free consultation.

6. Do I sign a formal written agreement or contract?

A signed contract.

7. How soon can a debt specialist begin to work on my case?

In most cases, almost immediately, as long as all required documents have been received.

 

Debt Specialist Training and Qualifications:

8. Is there one debt specialist who will work with me, or is it a team effort?

 

You will be assigned one main certified debt specialist, but it is a team effort, which includes financial consultants and accountants.

9. What are the qualifications of the AFG personnel?

AFG is a team of knowledgeable financial professionals who have more than 20 years of financial experience. Our team consists of certified debt specialists, financial consultants, and public accountants.

10. Does your company meet required state and professional standards?

AFG is a member of the International Association of Professional Debt Arbitrators. Our practice is based on honesty, integrity and the highest of ethical standards.

11. How much training and experience do your debt specialists have?

AFG debt specialists go through an extensive International Association of Professional Debt Arbitrators training and certification process. We have years of practical client experience.
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AFG Qualifications:

12. Will you guarantee the confidentiality of my information, and do you have a confidentiality and non-disclosure agreement in writing?

AFG will safeguard all your personal information (as stated in our Debt Settlement Agreement).

13. Who regulates, oversees and/or licenses your company?

FTC (Federal Trade Commission) ensures that debt settlement companies operate fairly and ethically. AFG is also a member of IAPDA, which stands for International Association of Professional Debt Arbitrators (members must be credible and follow strict and ethical settlement industry rules).

14. How long has your company been in business?

Our business name AFG is relatively new, but we have over 20 years of debt settlement and arbitration experience. We also have over 20 years of professional financial experience which includes accounting, financial analysis, and credit analysis.

Understanding the Process:

15. When am I eligible for debt settlement?

-When you are behind on your payments.

-Creditors have threatened to file a lawsuit.

-Your account is sent to collection agencies.

16. Is there a minimum amount of debt I must owe in order to use your services?

Industry average is roughly around $10,000 in order to qualify a potential client for debt settlement. AFG will accept clients who have $3,000 in debt and have creditors who are favorable to work with.

17. How is the minimum and maximum of my monthly payment figured?

AFG will prepare a restructured payment plan based on your financial situation.

18. What if the minimum is more than I can afford to pay?

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AFG will sit down with the client and do a thorough and complete financial analysis. Based on the findings, we will make important suggestions such as getting another income, reducing expenses, raising cash by returning expensive items to store, altering your spending habits, borrowing money from family, and/or even considering bankruptcy. 

19. How does your debt repayment plan work in comparison to other plans?

AFG, unlike other debt settlement companies, will not enroll you into a debt repayment program where you have to pay huge up front retainer fees, set-up fees, or activation fees of 10% of your total debt amount before you can start saving for settlement. Instead, we can assist you in setting up your own checking or savings account used primarily for debt repayment. Also, we will give you a customized monthly repayment plan which you must adhere to until all payments are paid in full on a timely basis.

20. How can I be absolutely certain that my creditors are receiving payments?

AFG will not be making payments to your creditors. You will follow your customized monthly repayment plan and send payments directly to creditors.

21. Do I have to close out my credit card accounts?

Yes. You want your credit card accounts to read “closed by consumer” rather than “closed by lender” on your credit report. This shows companies that you took initiative in solving your financial problems and will be more likely to receive a loan in the future.

22. Can I keep a credit account open during debt settlement negotiations?

No!!! The bottom line is that if you keep an account open, it will have an adverse affect on debt settlement negotiations. Creditors will not want to negotiate a low settlement.