- Credit card debt
- Payday loans
- High-interest installment loans
- Medical collection accounts
- Deficiency balances of auto loans
- Unsecured personal lines of credit
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At CountryWide, we are dedicated to helping our customers navigate financial challenges and relieve the pressures of burdensome debt. We specialize in helping individuals and families choose the best options for debt relief that are tailored to help them effectively meet their financial goals and needs.
With expertise, compassion, and a track record of proven results, we stand ready to help you resolve your debt so that you can work toward your financial goals.
Before you get started on your journey toward financial independence, we help you become clear about your objectives. This includes meeting with one of our Debt Consultants to share your financial goals and build a strategy through which you’d like to pay off your debt.
Our expert team will then help you choose from a wide range of options to increase your financial flexibility and independence. This may come in the form of consolidating your debts or getting a portion of your debts settled.
As you work to pay off your debts through a consolidation or repayment plan, we will be there to answer all your questions and will act as a trusted partner. With our help, you could be debt-free in 12-60 months.
Case Study #16076 – Client saved $67,367 By Enrolling in CountryWide’s Debt Relief Program
Due to unexpected expenses and a sudden increase in his cost of living, Client # 16076 found himself continuing to borrow money to cover the costs. He was on a fixed income and consistently struggled to make ends meet, only diving deeper and deeper into debt. He quickly realized that making only minimum payments on his various debts was not helping, and his damaging cycle continued.
Finally, he decided it was time for help. He called the team at CountryWide to explore his options and to work through one of our plans.
Had Client #16076 continued to struggle, he would have found his financial situation worsening: If he had made minimum payments throughout the life of his loans, he would have paid a total of $88,241.
By turning to CountryWide, he was able to save money and become debt-free faster: Our team helped him consolidate his loans, score a lower interest rate, and create a plan to chip away at his debt. Within 41 months, he had paid off $34,140 in debt and was able to start fresh.
In total, he saved $67,367 in finance charges - and years of his life - by hiring CountryWide as his trusted debt relief partner.MORE CASE STUDIES
*Do nothing option assumes making only the minimum payments on the debts each month with APR of 17% and minimum payment of 2% of the outstanding balance each month.
Savings illustrated is the difference between the total payments to CWDR and Total payments if just the MINIMUM monthly payments were being paid on the debts.
"I would like to take this time out to thank you for all your help... your debt relief program was the best thing I ever did … I have already recommended you guys to a few people who I know are trying to get out of debt. Words cannot describe how grateful I am for everyone's help. I didn't think I would ever find a solution to my problem. Thanks so! so! much. I wish I could hug everyone there. I really appreciate so much what you have done and what you are still doing."
What is Debt Relief?
A solid debt relief plan can help you pay off your debts in as few as 12 months. This will often involve consolidating your debts into a single amount owed, then working to pay off the balance in less than five years (and ideally, less than 48 months). This may also involve reducing your credit card balances by offering a settlement offer to your creditors.
What are the types of Debt Relief?
There are three primary methods: debt consolidation, credit card consolidation, and debt settlement. Debt consolidation involves combining each of your debts to various creditors into a single amount owed. You will work to lower your monthly interest rate and will make your payments on your behalf. Similarly, credit card consolidation involves transferring your credit card balances to a single card and making your monthly payments to a single lender instead of multiple creditors with various high interest rates. Finally, debt settlement entails negotiating with your creditors to forgive or cancel a portion of your debt.
Is debt relief a good idea?
It depends on your specific situation, but it does have several advantages. First, devising a strategy to consolidate, settle, or pay down your debt is an alternative to filing for bankruptcy, a last-resort option that can impact your credit score for up to ten years. Choosing to consolidate or settle your debt can also make it much easier and less stressful to manage your debts, and in many cases, can help you pay it down faster than you would if you were attempting to navigate your accounts on your own.
How do you qualify for debt relief?
Almost anyone seeking to get out of debt can qualify, but the specific plans available to you will depend on your income, assets, total debt liabilities, credit score, and other factors. Generally, you must have enough income to make a monthly payment into a settlement fund, which will be used to settle with your creditors. In other cases, you will use your monthly payments to pay down a debt consolidation loan, which you can use to pay off your various debts at a lower interest rate.
How much does debt relief cost?
The monthly cost will depend on the service you are using as well as the solutions you are seeking to settle, consolidate, or pay off your accounts. At CountryWide, we will discuss all fees and costs as soon as you hire us, so you will not face any surprise charges down the road.
What happens when you use a company for debt relief?
Your company will first get to know you and work to understand your financial goals, then help you choose the best option to help you pay down your debt. Your partner in debt relief will work with you throughout your financial management plan, taking the stress of communicating with creditors and making payments off of your plate so that you can focus on working toward financial freedom.
How to verify a company is legitimate for debt relief?
There are several ways to vet a company before hiring. First, keep in mind that most companies will not charge steep fees before they do any work for you. If they are asking you for a lot of money, inquire further. Additionally, you may check a company's rating on the Better Business Bureau website, confirm whether it is accredited, and read reviews left by other customers. Most importantly, trust your gut. If something seems woff, it probably is.
What is the fastest way to get rid of debt?
There are several ways to accelerate your repayment. First, consider making more than the minimum payment on your debts, if at all possible. If you make only the minimum payments, over time, interest will accumulate at a rate faster than you can pay down. Second, focus on your high-interest debts first, as these are the accounts that will become the most costly if left unaddressed. Third and finally, reach out to your creditors to see if they are amenable to working with you. In some cases, creditors are simply happy to collect as much as they can on an account even if full repayment is unlikely. As such, you may be able to request a reduction in your interest rate, a more favorable repayment time frame, or in some cases, even forgiveness of a portion of your debt.
How to get out of debt on a low income?
Although it may be difficult, debt relief is still possible even if your income is small or variable. The key is to create a plan that involves manageable, affordable monthly payments, low interest rates, a manageable household budget, and a flexible payback timeline. Sometimes, picking up a side job can help boost your income and accelerate your payback timeline. We can help you create and implement that plan so you can work intentionally toward your goal of financial independence, no matter the size of your income.
Will you be totally debt free when you pay off all debt?
Yes, the ultimate goal in any journey to becoming debt-free is to fully pay down, charge-off, or settle your accounts. Although these actions can stay on your credit report for up to seven years, working through a financial plan to pay down your debts will leave you with a clean slate after 12-48 months.
How long does debt relief stay on credit?
Generally speaking, a settled or charged-off debt will remain on your credit report for up to seven years. While this isn't necessarily a reason not to pursue settling or consolidating your debts, it is something to consider and you should speak with a credit counselor before making a decision on how to proceed.
What happens if you don't pay your debt?
If you default on your payments, your account will likely be sold to a third-party collections agency or debt-buyer. These collections agencies often acquire accounts for pennies on the dollar and can be very aggressive and persistent in contacting debtors. When your account is sold to a third-party collections agency or debt buyer, you will no longer have contact with the original creditor, and the third party collector will be your new point-of-contact for making payments and negotiating interest rates, timelines, and monthly payment amounts. Continued failure to miss your payments can lead to legal action, like a credit card lawsuit. Learn More
What happens when you settle a debt for less?
If you settle an account for less than you owed, it will be reported to the credit bureaus as unpaid. As such, you will likely see a dip in your credit score. This is because in the eyes of the credit bureaus, you did not pay your account as agreed and your lender took a loss. It can take a few years for your credit score to recover.
What happens when a company writes off your debt?
When a credit card company writes off your entire debt balance, the write-off will show up on your credit report as something called a “charge-off.” As far as the credit bureaus are concerned, this typically means that this is an account balance that you did not pay off. As such, a charge-off will usually negatively impact your credit score and may remain on your report for up to seven years.
What types of debts does our program cover?
At CountyWide Debt Relief, we believe that financial independence is a dream that should be accessible to everyone. We help our customers consolidate their debts so they can achieve this dream and become debt-free. This involves helping them pay off their lingering accounts in as few as 12 months, but typically, between 12 and 48 months. Specifically, we help our customers pay off the following types of debts, among others:
How will our program affect your credit?
You may see a short-term impact on your credit score. However, fortunately, this impact will typically not last beyond a few months. When you agree to close out your credit accounts, you will see a temporary pause in your available credit, which will impact your score. However, once you become debt-free, the credit freeze will lift and you can begin to rebuild your credit.