Disclosures

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Disclosures & Considerations Honest, Advantages and Disadvantages of Debt Relief

No matter where you go for debt relief, your option will always carry its share of benefits and drawbacks. Always ask questions, and identify fully with the risks, before enrolling in any program. We have assembled a list of advantages and disadvantages that our customers are mostly concerned with, before making a decision:

Debt relief program ADVANTAGES:

  • Reduce your debt amount: A considerable percentage of the outstanding balance can be reduced through our program.
  • Eliminate additional fees: Our expert negotiators will get all the late fees eliminated. Extra fees and penalties will be eliminated too.
  • Relief from creditor calls: Aleire will handle all your collection calls after enrolling into the program. We take on the responsibility to tackle the creditor calls on your behalf.
  • Avoid legal hassles: The creditors/collectors are less likely to file a lawsuit against you after enrolling into the settlement program. The reason is, creditors/collectors realize that they will get back their money eventually. Even if the creditors decide to register a case in the court, Aleire will provide legal protection to those who choose. We will help guide you how to deal with the lawsuit, and represent you in court.
  • Avoid the hazards of Bankruptcy: As you repay your bills through debt settlement, you won’t have to think about filing bankruptcy anymore. You won’t have to submit bankruptcy petition or go through the means test for discharging your debts.

Debt relief program potential DISADVANTAGES:

  • Tax Implications: If you settle your debt for less than what you actually owe, or if the creditor writes off a debt you owe, the Internal Revenue Service (IRS) treats the forgiven amount as income, on which you may have to pay income taxes. Any creditor, who forgives or writes off $600 or more from the primary debt balance, must send you and the IRS a Form 1099-C at the end of the tax year, and keep a copy with him. These forms are intended for reporting income to the IRS that you are receiving due to a settled or forgiven debt. Again, the creditor may send Form 1099-C to the IRS and not to you. In that case, if you don’t list this income while your tax return, you can get a tax bill or even an audit notice. This can compel you to pay more for IRS interest and penalties.
  • Credit Score may drop: A settlement program does not help your credit score. This is because you do not pay back the full amount to the creditors when you settle your debt. Creditors would report the account as "Paid as Settled" or “Paid as Agreed” to the credit bureaus. This negative remark will stay on your credit report for 7 years, if no credit restoration strategies have been started. However, most people who settle their debt already have blemished credit. Creditors will agree to settle your debt only if you’re missing payments consistently (which drops your credits score). Therefore, credit score should not be an issue with you, the consumer, who are contemplating to settle debt. After your debt has been settled, Aleire provides you with credit repair solutions, that will reestablish your credit profile and increase your credit score.

Finally, there are a lot of organizations which claim to be non-profit debt settlement companies. However, you should not work with the company simply because it claims to be nonprofit. The reason is, there are a lot of fraudulent non-profit debt relief companies that have emerged in the last few years. They will misuse your hard earned dollars, charge you exorbitant fees without providing any real service to you. Aleire takes pride in our track record and the integrity we espouse thorough out all of our customer interactions.

If you would like more information on how to get started, or if you would like to speak with a company representative about your personal situation, Call 1855.4.ALEIRE today for a free evaluation, or click below to get started.

ASSOCIATED PROGRAMS

Aleire offers comprehensive financial recovery programs. Select one below to learn more.

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Debt Resolution Disclosures

DISCLOSURES FOR PROGRAM ENROLLMENT

The following information should be considered by consumers when electing to enroll in our debt relief program.

  • Aleire will evaluate your unique financial situation and present you with suitable options for debt settlement. Personal information, including monthly statements from creditors, may be required.
  • Actual results will vary based on individual situations, your ability to save sufficient funds and does not insure a specific reduction in debt.
  • The success of Aleire’s program depends upon the client’s participation and ability to complete all program terms. If the client terminates the program before the client has saved sufficient funds in his/her Special Purpose Account to effect a settlement, then the program will not produce the desired results. Furthermore, no specific results can be predicted or guaranteed.
  • Aleire will NOT charge a settlement fee until an account has been successfully settled.
  • Company cannot make, and has not made, any guarantees regarding results.
  • You have stated that, because of circumstances beyond your control (hardship), you are unable to meet the minimum payments required by your creditors. If you do not make required minimum payments to your creditors you may be breaking the terms of your agreements with them and your actions will probably be reported to consumer reporting agencies as late, delinquent, charged-off or past due balances. Your creditor may also raise the interest rate on your account and impose other penalties. Your account balance may continue to grow as your creditor adds accrued interest, late fees, over-limit fees and penalties. Your balance may continue to grow until a settlement is reached with your creditor; and, if negotiations are unsuccessful, you could be called upon to pay the full amount.
  • Client’s participation in Aleire’s program will not, of itself, cause client’s creditors to cease any collection efforts, including phone calls, letters, hiring collection agencies, filing lawsuits or even garnishing wages.
  • Aleire’s program does not assume or pay your debts.
  • By providing your contact information, you agree to receive return telephone calls, emails or other communications from Aleire and its affiliates and expressly waive any No Call preference or registration.

Individual results may vary and are dependent upon several factors including individual circumstances, creditors’ willingness to settle, successful completion of program and ability to save funds. The contents of this website are not intended to establish an attorney-client relationship, provide the reader with legal advice, or substitute for legal advice from an attorney. Aleire’s debt relief program does not assume or pay any debt, nor does it provide legal advice or offer credit repair. Not all creditors or debt collectors will accept a reduction in the balance, interest rate, or fees a customer owes such creditor or debt collector. Pending completion of the represented debt-relief services, the customer's creditors or debt collectors may pursue collection efforts, including initiation of lawsuits.Resolution estimates of 50% are examples of past performance of settled accounts and do not take into consideration our service fees or potential tax consequences. Please consult with an accountant regarding this. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. Program not available in all states. Read and understand contract terms before enrolling. Savings a customer realizes from use of a debt-relief service may be taxable income.

ASSOCIATED PROGRAMS

Aleire offers comprehensive financial recovery programs. Select one below to learn more.

aleire debt resolution

ALEIRE DEBT RESOLUTION
DEBT RELIEF

aleire student debt relief

ALEIRE STUDENT
DEBT RELIEF

aleire debt management

ALEIRE DEBT MANAGEMENT
DEBT RELIEF

Need More Info? Call: 1 855 425 3473