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Frequently Asked Questions

Are you looking for debt help or have questions about how the debt relief process works? Don’t worry! We have listed some of the most frequently asked questions about debt relief below.

1. What types of debt qualify for the debt negotiation program?

Our program is focused on dealing with unsecured debt, such as credit cards, lines of credit, personal loans, and medical bills. Debt secured by collateral such as mortgages, auto loans, etc. cannot be enrolled into our program.


2. Should I enroll into Guardian's Debt Negotiation Program?

If you are experiencing any or all of the following, our Debt Negotiation Program may be right for you.

• You are having difficulty making credit card payments
• You have been late with one or more payments in the past three months
• You are not seeing a decrease in your credit card balances
• You have maxed out your available credit
• You are receiving calls from your creditors 


3. Will I be totally debt free upon completion of your program?

Yes. When you complete our program, all unsecured debt enrolled will be fully paid off. However, not all of our enrolled clients complete our program and following through with the monthly savings plan is key to your financial freedom. 


4. Will this program have a negative effect on my credit?

The reason you are eligible for our program is because you have legitimate financial hardships. Therefore, you may be late with your monthly payments and, in certain instances, are no longer making payments. Late and missed payments already have an adverse effect on your credit. In many instances, your credit may not be further affected.


5. How long is the program?

Typically, our debt negotiation program takes 24 to 48 months. However, it depends on you and your ability to maintain your payments in the monthly savings program. 


6. How much will my monthly payment be?

We will work with you to customize a monthly payment program you can afford. We can only settle your outstanding debt once you have accumulated sufficient funds in your savings account. We encourage you to allocate as much as you can towards your monthly payment. The faster you accumulate funds in your savings account, the faster we can settle with your creditors.


7. Who is in control of the accumulation account?

You are! The account is set up in your name and therefore the funds in that account belong to you. Once the account has sufficient funds accumulated, we will work with your creditors to reach a reduced settlement.


8. Can I negotiate on my own?

Yes, you absolutely can. You can also do your own taxes and build your own house, but most people prefer to use professionals. Our team of debt specialists are highly trained and experienced in working diligently with collectors to ultimately settle your debt for just a fraction of what you owe.


9. Will I receive phone calls from collectors?

Our clients may experience some collection calls. Our goal is to work with your creditors and minimize the number of calls that you receive.


10. Will I owe taxes after I complete the program?

Generally, any amount of debt forgiven is deemed taxable by the IRS. However, there are exceptions available for hardship. Please contact your tax advisor to discuss whether the hardship/insolvency provision is applicable to you.

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