Debt Relief FAQs

Q. Why should I use Karma Capital for debt resolution, instead of doing it myself?

A. You can certainly negotiate your own debts; however, most people tend to let the experts do what they do best. Debt settlement can be extremely time consuming, emotional, and stressful. Especially, if you’re being hunted down by aggressive collection agencies. Most people tend to leave these duties to an experienced team who maintain relationships with numerous consumer-lending institutions and collection agencies. The truth is, we work with them every day, you don’t. In addition, our arbitrators have extensive knowledge in Federal & State consumer laws & exercise the Fair Credit Reporting Act, Fair Credit Billing Act, and the Fair Debt Collection Practices Act to help settle your debts. Our team is experience in qualifying clients to get out of debt quickly, with customized plans to help them save money in the process.

Q. Do I have to be behind on my debts to qualify for your debt relief programs?

A. No, you do not need to be behind in payments in order to put the plan together. Many people realize they are experiencing a legitimate financial hardship like high medical costs, before their credit situation has deteriorated to the point where they have become delinquent on their accounts. Our program works with debtors in all stages of payments and collections; however, once you are behind creditors typically become more willing to negotiate better settlements in some situations.

Q. How does this affect my credit score?

A. Many who reach out, do so because they are already behind on payments. By not paying your creditors, your credit will be already be negatively affected. All debt settlement programs, will cause a temporary negative effect on your credit rating; however, doing nothing will too. Following the successful completion of our debt relief program, all accounts will be settled and credits will report the accounts as “settled” or “paid in full” to the credit bureaus; thus, your credit score should begin to increase. Compare this with what filing bankruptcy does to your credit score.

Q. How does the system work?

A. The first step is to get your free debt relief consultation. Then, one of our specialists will reach out to discuss your situation and determine if you are a good candidate for debt relief. Upon acceptance, your specialist will help collect and gather the information and documentation needed to build your personalized program. After a complete analysis, we will determine your affordable monthly payment. Then our arbitrators go to work, negotiating your debts. Finally, together we implement your strategy to debt relief.

Q. How long does debt settlement take?

A. Honestly, this depends on many variables including your total debt balance and debt relief plan details, to name a couple. When it comes to time, your current financial state can play a big role. For instance, some clients can afford to pay more than the minimum payment on a monthly basis and therefore finish the program sooner. If you’re serious about getting out of debt, you will focus on putting as much money as possible towards your program. Our goal is to get you out of debt as quickly as possible, but we also understand you have other financial responsibilities like feeding your family. Contact us for your free debt relief consultation and we will provide you everything you need to know about your specific situation.


Examples of Unsecured Debts

  • Credit Cards
  • Department Store Cards
  • Legal Bills
  • Unsecured Personal Loans
  • Health Club Memberships
  • Magazine/Record Club Fees
  • Cell Phone Bills
  • Signature Loans
  • Collection Agencies​
  • Credit Lines

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