FAQ's

Answers to common questions...

A Debt Management Program? What's that?

One of our personal debtor support staff will take a look at your financial position with you, either in person, on-line, or over the telephone. Then, we’ll create a budget for you and negotiate with your creditors. We’ll help you manage your debts by collecting a single, affordable payment each month from you, and then we'll pay your creditors for you. It's completely confidential, and easier than you may imagine.

Is a Debt Management Plan the same thing as a consolidation loan?

No. While in a debt management program, you simply make a single monthly payment to us to cover all of your debt payments. In return, you get a lower payment than you now make to creditors. That way you get out of debt and stay that way. We do not loan you more money. We make arrangementswith your creditors to pay off your existing debt on terms more amenable to you.

Is Full Circle Debt Solution a bank, another type of big, national credit company?

No, we don't lend money. We consolidate your debt so that you pay less, make one monthly payment, and get rid of high interest rate loans. Sometimes this is known as a DEBT MANAGEMENT PROGRAM.

Will my creditors stop calling me and harassing me?

Your creditors will be happy to deal with our staff, and will stop all collection calls as long as you stick with your Debt Management Program.

What if I get garnishee orders or judgments?

In many cases a DMP will suspend action on a judgment or garnishee order, and we may be able to negotiate to eliminate legal actions.

What if I drop out of the program?

Creditors see your participation in a Debt Management Program as a positive step. It shows them you're making a serious effort to repay your debts. As long as you make payments in a Debt Management Program, creditors won't take any other collections activity.

You need to understand that a Debt Management Program is a serious commitment, and terminating it may make it difficult or even impossible to restore your credit rating to what it was before you started on a Debt Management Program. If you are not sure that the Debt Management Program is right for you, or if you doubt you are committed to completing the program, then don't make an agreement that could cause problems later.