American Finasco > Blog > 4 Myths about Commercial Debt Management Companies

Myth No.1: I can negotiate with credit card companies myself.

The truth is, having an experienced negotiator on your side can help.

At American Finasco, most of our clients have told us this familiar story. When they call a credit card company to try to negotiate a balance themselves, the credit card companies have a “Yeah, you and everybody else,” attitude. Based on American Finasco’s experience negotiating with creditors, we know what percentage of debt owed each creditor is likely to agree to. Our team of professionals also have more leverage with creditors due to our volume of business.
American Finasco will contact your creditors, collection agencies or attorney representatives that are assigned to the collection of your delinquent debt. American Finasco clients receive immediate relief from creditors and their pressure for payment. You will divert telephone calls to American Finasco. This will allow you more time to build your business uninterrupted by collection calls.

It’s like changing the brakes of your own car. You can probably figure it out, but that doesn’t mean you are going to do it right.

Myth No. 2: I have to pay upfront for debt settlement and the settlement company controls my money.

The truth is, not with American Finasco.

For over 30 years, American Finasco, Inc. has averaged over a 95% success rate in negotiating a reduction and settlement of our client’s debt. We average a total cost of 60-65 cents on the dollar of the assigned delinquent debt. This average total cost includes the reduced amount to the creditor and American Finasco fees. Because our settlement fees are based on a percent of the savings to our client, we have an incentive to achieve the greatest reduction possible.

Myth No. 3: Debt consolidation hurts my credit score

The truth is, it might, but with services by American Finasco, it will recover more quickly.

The two most important factors of a credit score are payment history and credit utilization (how much you owe versus how much credit you have available). Initially, your credit score might take a slight hit. However, with American Finasco services, it should recover quickly and continue to rise as you make on-time payments and reduce the amount of money you owe.
If you are hiring American Finasco it is because you can’t afford to make all of your monthly payments so your credit is going to suffer if it has not already. We reduce your debt and your monthly payments, making it easier for you to comply with terms and rebuild your credit.

Myth No. 4: I can’t pay my debt. I have no other choice but to declare bankruptcy.

The truth is, bankruptcy is not your only option. It is just your worst option.

A reputable third party like American Finasco that specializes in debt management and commercial debt reduction can be a lifeline for companies in distress. You may not know that bankruptcy is rarely in a company’s best interest, and as a result, many business owners don’t realize that partnering with American Finasco is a better way out of debt. There’s no reason to risk destroying the company you built. American Finasco will provide business strategies for avoiding further financial and emotional devastation and put your company back on the path to success.

Find out more and set up a free consultation today. Contact us and get your business on the right track! Visit Contact Us and complete our Online Form for your free consultation or call (800) 299-2909. We look forward to speaking with you.