Frequently Asked Questions

Q. What is Debt Consolidation?

A. When you consolidate debt, you are combining of all your unsecured monthly bills into one monthly payment and with a single interest rate. Myfcdc.org Consumer Debt Consolidation does not offer loans, instead, we work with our clients and their creditors to reduce their overall interest rate, monthly payments, and most importantly the time it takes to pay off their debt. At Myfcdc.org Consumer Debt Consolidation our goal is to help you the client with excellent costumer service and years of industry experience.

Q. How does the program work?

A. Your certified, professional advisor will contact you after reviewing the submitted information to confirm your outstanding debts. After you signed up with us, we will contact your creditors to have your interest rate and monthly payments lowered so that that your monthly payments will be affordable. You will no longer pay your creditors directly, but will make monthly payments directly to the Consumer Debt Consolidation office. Each month, on a date that you specify, they send your payments to your creditors.

Q. Will I still receive harassing phone calls?

A. After agreeing to work with a Myfcdc.org Consumer Debt Consolidation office calls from collectors will gradually lessen as we begin to handle your debts. Generally, within a short period, the calls will stop as it becomes known that you are working to pay off your debts.

Q. Why do creditors agree to lower monthly payments?

A. Creditors agree to lower your monthly payment when you are working through Myfcdc.org because you are, in fact, trying to pay your debts. Your creditors lose money if you default on your loan or file bankruptcy. If they compromise and accept lower interest, it is much more likely that they will be able to collect more of what is owed. Myfcdc.org works with counseling offices that have an excellent working relationship with your creditors and because of that relationship, is able to work out an easily affordable credit card management plan.

Q. Will debt consolidation affect my credit rating?

A. Debt consolidation is often viewed by creditors as a positive, good faith effort on your part to repay your debts and can actually improve a damaged credit rating.

Q. Do my creditors participate in your Debt Consolidation Program?

A. We have an extensive list of creditors that will work with us to reduce your monthly payments. Among them are all major credit card companies, department stores, medical clinics and hospitals.

Q. How do I know if I qualify for your program?

A.You automatically qualify if you are carrying at least $5,000 in unsecured debt. If you are seeking to get on the right financial track, then click here for a FREE debt analysis.