Frequently Asked Questions

How does Debt Settlement Work?

Debt Settlement allows a person to eliminate debt easier, faster, and for less money than normally required. Historically, we have been able to save our client up to 53 percent of their debt burden. American Liberty Financial works with each client to set up a plan eliminating any unsecured debt. We work out an easy monthly payment, affordable to the individual client. This monthly payment will be deposited into their program special purpose account.

Once funds have accumulated, American Liberty Financial works on the client’s behalf to negotiate a lesser amount than originally owed to the creditor. Once this amount is agreed upon and paid, the process continues until all unsecured debt in the program has been eliminated.

Will my creditor still keep harassing me by phone and/or mail?

American Liberty Financial will be working on your behalf with your creditors and involved collection agencies. Once you have entered our debt settlement program, we will begin to contact your creditors and inform them of your pursuit to handle your accounts. Your creditor may contact you for up to 45 days until the process is completed. At that point, American Liberty Financial will be the sole contact for your creditors via phone or email.

How will my credit history reflect this program?

Most people who fallen behind in their payments, or are not able to make the minimum payment to their creditors, have a negative credit history. Others have an increased debt compared to their current income. This situation is called their debt-to-income ratio (FICO score), and can also have a negative effect on their credit rating. By implementing our debt settlement program we are able to assist with eliminating outstanding unsecured debt that a person may have fallen behind on, reducing the debt-to-income ratio, and freeing up funds to enjoy the things people love to do.

American Liberty Financial also understands that credit is very important in a client’s day-to-day life. Whether it is used to buy a new car, or a requirement for a new job, a person’s credit is always important.

Why don’t I just file Bankruptcy?

In most cases, financial hardship is only temporarily, and due to some unforeseen complication in one’s life or financial situation. Many chose to file bankruptcy without exploring other options. American Liberty Financial understands that indebtedness is a stressful situation. We want to make it as easy and stress-free as possible by handling your debt for you.

One must also understand the detrimental consequences that can arise from filing bankruptcy. A bankruptcy can remain on a credit history for up to 10 years. American Liberty Financial believes that bankruptcy should be chosen as a last resort only, after all other options have been explored. (To understand more on bankruptcy please see the educational section of our website).

Can American Liberty Financial help with my car or home loan?

American Liberty Financial works with unsecured debt only. Common forms of unsecured debt are; credit cards, personal loans, and accounts that have been sent to a collection agency that are not backed by any form of collateral. You should be aware that we are unable to work with student loans, auto loans and home loans.  Please consult your settlement advisor with questions regarding other forms of debt, or any special situations.

How long will it take to settle all of my debt?

American Liberty Financial assists individuals in eliminating their debt as fast as possible. We understand that it was probably some financial difficulty that put you in this position. Therefore, we work with our clients to set up a payment plan that best fits their needs. It does, however, depend on each individual’s cooperation in the program by making payment each month. Historically, we have been able to eliminate our clients’ debt in 36 months, depending on the amount of debt and the monthly payment arranged.

How does Debt Settlement compare vs. Debt Consolidation?

In a debt settlement program, clients can eliminate debt faster and for a lesser amount than what is originally owed, thereby saving their hard earned money.

How do I know your company is a legitimate company?

American Liberty Financial is located in Delray Beach, FL. We pride ourselves in our reputation for excellence within the debt settlement industry. We are proud members of the Better Business Bureau, and Dunn & Bradstreet. Our clients are welcome to click on the Better Business Bureau link, or contact them directly in regards to our standing.

If you are within the Southern Florida area, you are welcome to visit our office and meet with one of our counselors.

Can my creditors take me to court?

American Liberty Financial has an established credibility with thousands of creditors, large and small. Our duty is to inform your creditors that our client is working to eliminate the debt at hand. In a few cases, a creditor may decide to take the debt to court for resolution. Once an individual is a client of American Liberty Financial, they are taking the proper steps in resolving their debt, a fact noted by the courts. If a judgment is imposed, American Liberty Financial can settle the amount owed, and resolve the issue.

How do I know that my creditors will work with your company?

American Liberty Financial has well-established relationships with thousands of creditors nationwide. These relationships allow us to negotiate and agree upon a settlement amount to resolve the debt in question. In the unlikely event that a creditor will not settle, our established relationship allows us to negotiate other means to repay the debt. In this event, a hardship payment plan may be established, benefiting you.

Will American Liberty Financial stop fees and interest from accruing?

American Liberty Financial understands that late fees and interest can accrue on an account during the time period before the account is settled. In some instances, collection agencies have already added a fixed amount to the debt. American Liberty Financial’s program benefits the client by negotiating debt, including fees and interest, resulting in savings and debt elimination favoring our clients.

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