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GET OUT OF DEBT WITH NO REGRET

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New Client Information Page

CONGRATULATIONS! by signing up with Credit Advisors you have taken a positive step in the control of your financial destiny. From now on we will be helping you gain control of your finances, not the other way around.

IMPORTANT NUMBERS:

Your Client Number: on STATEMENT
Your Phone Number: 1-800-766-3328 (Toll Free)
The Creditor’s Number: 1-402-393-3100 (for them to call us)

YOUR CLIENT NUMBER

If a creditor calls you, tell them you are now with a consumer credit counseling agency and that they should call 402-393-3100. Make sure to tell them your client number.

The First 90 Days:

The first 90 days are the toughest! You’ve got to be patient and make all your payments on time every time!

Making all your payments on time is very important and timely payments are crucial; If you miss a payment with us the creditors will continue to call or send harassing letters. This is very frustrating if you’re just getting started with us. We can’t do our job if you don’t send in full payments every time.

When you sign up with Credit Advisors we send out notices to all of your creditors called “proposals”. These go out from one to two days after you make your first payment. Warning! It is not uncommon that some of your creditors will claim they never received a proposal from us. Sometimes one of your creditors will need to be sent 2 or 3 proposals for the plan “to stick”. If a creditor calls you and says they never heard of us, (even though we may have sent them a proposal or two) get their name and their fax number…. we’ll immediately fax them a proposal for you.

Will my payments ever have to change? The amount of your payment plan was based on a number of factors, among them being your total indebtedness as well as the types of debt you have. Although it’s relatively rare, we will sometimes have to raise your payment, but usually only by a few dollars.

 

New Client Checklist

CHECK YOUR STATEMENTS

Usually after 45 days, most of your credit card statements will show that you’re accepted on their credit counseling plan. Usually after 3 months you’ll notice interest reductions on your credit statements (if the creditor offers interest reductions). Look at your statements to verify balances every month. If something looks unusual please let us know. Help us to help you. The first 90 days, take careful note of how each creditor responds to the proposed plan.

ELECTRONIC FUNDS TRASNFER (ETF)

(Electronic Funds Transfer or Checking Account Deduction) – If you’ve signed up with EFT that’s great. If you haven’t, it’s absolutely critical that you get your payments to us on time. If you have a checking account, signing up with EFT is mandatory. If you don’t we suggest that you open up a checking or savings account so we can start automatically withdrawing.

WESTERN UNION

If you’re late with a payment or if your EFT bounces, you’ll want to go to your nearest Western Union Office to make a payment. Ask for the blue quick collect form. It will ask you for the “code city”. The code city for Credit Advisors is BENEFIT, NE.   After you make your payment to the Western Union Office we receive certified funds in our office minutes after you send it! If you don’t know your nearest Western Union office you can call them at 1-800-325-6000.

YOUR CREDITORS

We’ve been in business for over 50 years and work with all your creditors. We have most creditor addresses on file, but it is very important that you provide us with correct address and account number information for each and every creditor.

If you are getting  calls from your creditors, chances are you’re running pretty late on your bills. Simply tell the collector that you are now enrolled in a credit counseling agency and that they should give us a call at 402-393-3100. Most collectors are happy to hear that you’re now in counseling. However, occasionally you’ll encounter a nasty creditor that claims they won’t take payments from us. Get the person’s name and number and we’ll give them a call.

Do not give in to any collector pressure and pay them directly. Doing so will cause you to be dropped from the counseling program. You must be firm but polite to any collector. They must work through us if they are to receive any money.

Do not give the creditors our toll free number. We have to refer these calls back to you if they come in on this line.

WARNING!

If you haven’t signed up with EFT or payroll deduction and you miss a payment, we can’t be held responsible if creditors still call you. So please, make all payments on time!

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Credit Advisors has been offering debt consolidation programs longer than anyone else. Our certified debt counselors can help you with credit card debt relief, credit card consolidation, consumer credit counseling, bankruptcy certification, bankruptcy questions and all other kinds of help with debt. If you want to get out of debt and have been considering debt settlement, credit management, debt management, credit repair, bankruptcy or consolidation, we provide the best debt counseling and steer you toward a plan that is in your best interest. We are not a loan company, debt settlement company or credit repair organization. We provide credit counseling and plans that work to get you on the road to debt free living.

Credit Advisors Incorporated is licensed to provide debt management plans in the states of Arizona, Colorado, Iowa, Indiana, Kentucky, Michigan, Nebraska, Oregon, and South Carolina.  They are approved or otherwise compliant in Alaska, Florida, Missouri, Ohio, Texas, and Washington.

Credit Advisor logo 4

Credit Advisors has been offering debt consolidation programs longer than anyone else. Our certified debt counselors can help you with credit card debt relief, credit card consolidation, consumer credit counseling, bankruptcy certification, bankruptcy questions and all other kinds of help with debt. If you want to get out of debt and have been considering debt settlement, credit management, debt management, credit repair, bankruptcy or consolidation, we provide the best debt counseling and steer you toward a plan that is in your best interest. We are not a loan company, debt settlement company or credit repair organization. We provide credit counseling and plans that work to get you on the road to debt free living.

Credit Advisors Incorporated is licensed to provide debt management plans in the states of Arizona, Colorado, Iowa, Indiana, Kentucky, Michigan, Nebraska, Oregon, and South Carolina.  They are approved or otherwise compliant in Alaska, Florida, Missouri, Ohio, Texas, and Washington.

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Michigan license number:   DM-0016282 Available to the public and licensed in Michigan.

Section 13(1)  When a licensee establishes a debt management plan for a debtor, the licensee may charge and receive an initial fee of $50.00

Section 13(2)  A licensee shall attempt to obtain consent to participate in a debt management plan from at least 51%, in number or dollar amount, of the debtor’s creditors within 90 days after establishing the debt management plan. If the required consent is not actually received by the licensee, the licensee shall provide notice to the debtor of the lack of required consent and the debtor may, at its option, close the account. If the debtor decides to close the account, any unexpended funds shall be returned to the debtor or disbursed as directed by the debtor.

Sec. 14. (1) A contract between a licensee and debtor shall include all of the following:

(a) Each creditor to which payments will be made and the amount owed each creditor. A licensee may rely on records of the debtor and other information available to it to determine the amount owed to a creditor.

(b) The total amount of the licensee’s charges.

(c) The beginning and termination dates of the contract.

(d) The principal amount and approximate interest charges of the debtor’s obligations to be paid under the debt management plan.

(e) The name and address of the licensee and of the debtor.

(f) Any other provisions or disclosures that the director determines are necessary for the protection of the debtor and the proper conduct of business by a licensee.

Sec. 18. (1) In addition to the fee described in section 13(1), a licensee may charge a reasonable fee for providing debt management services under a debt management plan. The fee under this subsection shall not exceed 15% of the amount of the debt to be liquidated during the express term of the plan.

(2) A licensee may offer a debtor the option to purchase credit reports or educational materials and products, and charge a fee to the debtor if the debtor elects to purchase any of those items from the licensee.  Fees charged under this subsection are not subject to the 15% limitation on fees described in subsection (1).

(3) Except for a cancellation described in subsection (4), in the event of cancellation of or default in the performance of the contract by the debtor before its successful completion, a licensee may collect $25.00 in addition to any fees and charges of the licensee previously received by the licensee. This $25.00 fee is not subject to the 15% limitation on fees and charges under subsection (1).

(4) A contract is in effect when it is signed by the licensee and the debtor and the debtor has made a payment of any amount to the licensee. The debtor has the right to cancel the contract until 12 midnight of the third business day after the first day the contract is in effect by delivering written notice of cancellation to the licensee. A cancellation described in this section is not subject to, and a licensee shall not collect, the fee described in subsection (3).

(5) If a debtor fails to make a payment of any amount to a licensee within 60 days after the date a payment is due under a contract, the licensee may, in its discretion, cancel the debt management contract if it determines that the plan is no longer suitable for the debtor, the debtor fails to affirmatively communicate to the licensee the debtor’s desire to continue the plan, or the creditors of the debtor refuse to continue accepting payments under the plan.

(6) A licensee shall not contract for, receive, or charge a debtor an amount greater than authorized by this act. A person that violates this subsection, except as the result of an inadvertent clerical or computer error, shall return to the debtor the amount of the payments received from or on behalf of the debtor and not distributed to creditors, and, as a penalty, an amount equal to the amount overcharged.

530 W Allegan Street, 7th Floor
Lansing, MI  48909-7720
877-999-6442

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