Frequently Asked Questions

What is debt settlement?

Debt settlement, also known as debt negotiation, is an aggressive approach to eliminating your unsecured debt. Yellow Brick will negotiate with your creditors to reduce the total balances owed and attempt to get you debt free in less than 3 years.

Who is eligible for Yellow Brick’s Debt Reduction Program?

Yellow Brick’s Debt Reduction Program is appropriate for consumers who have severe credit card debt, are struggling to meet minimum monthly payments, facing collection or considering bankruptcy. The debt advisors at Yellow Brick are trained to offer our clients customized debt settlement solutions. We understand that each situation is unique and our debt reduction programs are customized to help our clients lower their monthly payments, help them deal with their creditors, and reduce their debts fast.

Is there a minimum amount of total debt that can be enrolled in your program?

Yes, the minimum amount of debt is $10,000. There are exceptions that can be made depending on your personal situation. Contact a Yellow Brick debt advisor to determine your eligibility.

Does your debt reduction program include debts other than credit cards?

Yes. Yellow Brick’s debt settlement programs include all types of unsecured debt. Credit cards, department store cards, gas cards, medical bill and accounts in collections can all be enrolled in our debt reduction programs.

How do I know if I qualify for your debt settlement program?

To start the process all you need to do is complete a free consultation which consists of a full budget analysis. The debt advisors at Yellow Brick are happy to answer any questions you have regarding the enrollment process. Contact a debt specialist for a free consultation to determine if you are eligible for our services by calling 866.573.8636 or to have a debt advisor contact you simply fill our apply now page.

Who are your ideal clients?

Debt settlement is designed for individuals in financial hardship who cannot afford typical debt management plans and are looking to avoid bankruptcy.

Is there a guarantee on Yellow Brick’s services?

Yes. We feel so strong about our ability to deliver that we offer a money back guarantee with our services. Our set - up fees are typically not refundable.

How will your debt reduction program affect my credit?

Debt Settlement programs will have a negative impact on your credit. Once a settlement is reached in our program, your accounts will appear as “settled in full,” “settled,” “settled for less” or “paid.” In any case, the balance on your accounts will be zero and it will appear that you settled the debts on your own accord. We advise that while you are in the program you continue to pay other obligations such as mortgage loans or car loans on time to aid in maintaining a satisfactory credit rating.

Can you prevent a creditor from suing me?

No, there are no debt settlement companies who can prevent this from happening. If you are dealing with a company who claims that they can, proceed with caution. Our goal is to settle all of your debts with your creditors before going to legal action. If you are sued while in the process, we will work diligently with that particular creditor to achieve a settlement.

How long will it take me to pay off my debt?

The length of the program depends on how much you owe, how many creditors you enroll, and how much you are able to contribute to your special purpose account each month. Our goal is to have you graduate from the program between 2-3 years.

How does the Yellow Brick debt settlement program work?

Once you are enrolled in our debt reduction program, a Yellow Brick debt advisor will determine the appropriate monthly dollar amount that we recommend you save towards negotiated settlements. This amount is typically significantly less than your current minimum payments and will go toward paying off the debt. These funds will be saved every month in a new FDIC insured Special Purpose Account that we set up for you. After funds have accrued to make reasonable offers, we begin negotiating with your creditors individually. Typically, Yellow Brick aims to reduce your total debt by up to 50% or more. We do not contact your creditors to arrange payment plans or to reduce interest rates; rather we negotiate a settlement based on what you owe, your current financial hardship, and what you have in your settlement account to satisfy the obligation. While in the program you may accrue interest and late fees which we will attempt settle as part of our negotiation strategy.

What services does Yellow Brick provide after completion of the program?

Upon completion of the program, you will receive a graduation package which will include documentation on all of your settlements. We also provide educational material which will provide useful information to assist you in building your financial future. We ask that all graduates continue to subscribe to our news letters and mailings which will also provide a lot of useful information.

Truth and Services: Yellow Brick considers it to be its ethical duty to inform the public and protect the consumer. If you have any questions regarding the information click here or feel free to contact us at info@yellowbrickfinancial.com or by phone at 866.573.8636