Frequently Asked Questions

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Following are some of the most frequently asked questions that a consumer will ask during his/her exploratory process to determine whether or not a debt settlement program with S&N Debt Solutions is right for them.

How much does this program cost?

A. S&N’s Peace of Mind™ debt relief program is a Paid upon Performance™ program which means that the Company will not get paid for its settlement services until a successful settlement with a client’s creditor(s) is negotiated. This settlement services fee is factored into the agreed upon monthly program payment and would be equal to 25% of the total debt enrolled into the program. There are no other hidden costs or fees.

NOTE:  Clients who reside in Montana and Idaho would pay a settlement services fee of 20% . Clients who reside in Iowa would pay 18%.

Do I have to be delinquent to qualify for a debt relief program?

A. No. Most people realize that they are experiencing a legitimate financial hardship before their situation has deteriorated to the point where they actually become delinquent on their accounts. S&N has the expertise to negotiate a favorable settlement with a client’s creditors once a client’s enrolled accounts become delinquent.

Can S&N Debt Solutions prevent late fees and interest from accruing on my accounts?

A. No. S&N cannot stop a creditor from applying interest or late fees on an account. However, a client’s Peace of Mind™ debt settlement program anticipates any fees and interest and incorporates them into the program payment. And because the Company’s expert Settlement Consultants will negotiate with all of a client’s creditors enrolled in the program on the total debt owed, the savings realized will far exceed any interest or late fees that may accrue on the account.

Will your program have a negative effect on my credit rating?

A. Yes. However, following the successful completion of the Company’s Peace of Mind™ debt relief program, all of a client’s accounts enrolled in the program will be settled and creditors will report the accounts as “paid as agreed”, “settled for a lesser amount”, or “settled in full” to the credit reporting agencies. In fact, with ongoing fiscal responsibility, clients who complete our program will see an improved credit utilization and debt-to-income ratio which will have a positive effect on their credit score.* (*Results are not guaranteed*)

Because there are many factors that can influence a credit score, the Company’s certified Program Consultants will be happy to explain this in more detail.

Do I have to include all of my credit cards into the program for relief?

A. Yes. S&N will recommend that a client enroll all eligible credit cards into their debt relief program since the use of any credit card could adversely affect the releif process. During the duration of a client’s debt relief program, the Company highly recommends the use of a debit card.

When does S&N Debt Solutions begin resolving my debt?

A. The Company will begin the process of debt resolution with a client’s creditors as soon as suitable funds are available in their FDIC insured Dedicated Account—and when it is in a client’s best interest. Debt resolution can take time. However, we like to assure our clients that the Company’s expert Relief Consultants will resolve accounts when the time is right to maximize their savings.

Does S&N Debt Solutions control or direct my funds?

A. No. The Company uses reputable, independent payment processing services to safeguard a client’s program funds until a resolution with their creditor has been agrees upon. Additionally, this client owned and controlled FDIC insured Dedicated Account is viewable on-line 24 hours a day. Once a satisfactory resolution is negotiated, the required funds are transferred from a client’s account to his/her creditor based upon the agreed upon terms and conditions.

How do I receive updates on the progress of my debt relief program?

A. All clients are assigned a Client Service Representative (CSR) who will provide periodic updates on the status of a client’s debt relief program. The CSR will be the principal point of contact for any issues related to a client’s program. Extended office hours are available to those clients who do not reside in the Eastern Standard Time (EST) Zone. Additionally, clients can call S&N Monday thru Saturday during normal business hours to speak with their CSR whenever they deem necessary.

What type of results should I expect?

A. Based upon historical results, the Company’s typical client can expect to be debt free in 24-36 months and will generally realize a 50-55% reduction in debt owed to his/her creditors. Results will vary depending upon the amount of debt enrolled in the program and the ability to save sufficient funds. All resolutions are subject to both client and creditor approval. And because the Company uses a Paid Upon Performance™ operational business model, clients can expect the Company to aggressively negotiate on their behalf to achieve the maximum savings possible—as quickly as possible.

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What if my creditors won't resolve my account?

A. There are very few circumstances in which a creditor will refuse to resolve an account. As with any negotiation, there are offers and counter-offers. But in the majority of cases, a resolution can be achieved. Creditors understand that resolving an account is in their best interest because if a debtor files for bankruptcy, the creditor’s claim may be completely discharged resulting in “0” funds collected.

Additionally, S&N will not enroll a creditor into a client’s debt relief program if there is the possibility that said creditor will not engage in the debt relief process. This pre-screening of a client’s creditors before enrollment into the Company’s Peace of Mind™ program ensures a very high resolution success rate. For example, a client’s automobile loan from a credit union is considered secured debt and would not meet the requirements to qualify for the Company’s debt relief program.

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