About Debt Consolidation
Our purpose is to provide answers to important questions that are often asked about debt consolidation. Brief answers are linked to the questions below. We hope this information helps you during the process.

What is the process?

When will I receive my benefits?

Will I still receive monthly statements from my creditors?

Why are my creditors still calling me?

How do I contact American Debt Counseling?

Can I check my account status on-line?

How do I make payments?

What will happen if I don't have the money in my account on the scheduled date it is to be withdrawn?

Can I pay more than my monthly payment?

Can I add creditors to my account after I'm on the program?

What is the process?
Negotiation Period:The process of negotiating with your creditors takes approximately 30 to 60 days. During this time we will ensure that your payments are being applied at the most favorable rates we can obtain. At this time, your account has been processed and proposals have been sent to the consumer credit counseling department for each of your accounts. When the benefits and terms of the program have been agreed upon and payments are received, your creditors will place your account in a specialty status and collection efforts should cease.

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When will I receive my benefits?
Each creditor has specific guidelines that they follow regarding the handling of your account. Some waive interest rates, some reduce interest rates, some waive late fees, some bring you account current, etc. However, all creditors require at least three consecutive monthly payments before any of these benefits under an accepted proposal. If you have not made three consecutive payments, you may receive phone calls, see late fees on your account, or any number of normal collection procedures until after the third month.

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Will I still receive monthly statements from my creditors?
As long as you are with American Debt Counseling, Inc. (ADC), creditors will continue to send you monthly statements. You are encouraged to review each statement and to contact ADC if you have any questions.

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Why are my creditors still calling me?
Creditors may continue to call you; in many cases it can take three to five weeks for creditors to approve your proposals. The calls you are receiving are from the creditor's collection department. They are paid based upon their collection money they receive from you. Despite what they may say, they have no knowledge about your proposal process with their consumer credit counseling department that we deal with.

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How do I contact American Debt Counseling?
You can access you account 24 hours a day via this web site. You can always fax us at (954) 656-8113. Of course your case manager is at your disposal Monday-Friday 8:30 a.m.-5:00 p.m. E.S.T. at 1-800-279-1194.

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Can I check my account status on-line?
Yes, please do. The information that your case manager has is available 24 hours a day 7 days a week at www.myadc.org and is updated every night. Please utilize this web site so that your case manager can spend their time working with your creditors on your behalf. Continue coming to the web site at least once a month to view important information and announcements that are posted regularly.

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How do I make payments?
Automated Clearing House (ACH) Network electronic bank transfer, cashier's check, certified bank check, money order, Western Union Quick Collect, or web site, must be used to make payments. All payments must have your name, social security number, client ID number and address written clearly on them to ensure proper credit to your account. Personal checks will be returned.

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What will happen if I don't have the money in my account on the scheduled date it is to be withdrawn?
Remember, notify us immediately. We cannot help you if we don't know about the problem. Please give ADC five business days to change or stop an ACH.
If your payment is unavoidably late or you must miss a payment, contact your case manager. We will be able to monitor your promised date and inform creditors of your situation. After two missed payment there is a $50.00 restart fee.

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Can I pay more than my monthly payment?
Yes, you can pre-pay at any time and there are never any pre-payment penalties. Unless you direct us, any additional funds will be applied to the creditors charging the highest interest rate.

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Can I add creditors to my account after I'm on the program?
Yes, any eligible creditor can be added on by simply calling your case manager. Your monthly payment will increase accordingly. You need to provide the account number and current balance.

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