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Q & A
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Frequently asked questions
Q Are Arbitrators all lawyers ?
A Although lawyers do arbitrate debts, people are finding that it is more cost effective to use a professional arbitration service. At Debt Solutions of Boston and Cape Cod we do not have any lawyers on our staff.
Q How much does it cost ?
A Our fee is 30% of the amount we have saved you.
Q When do I pay ?
A You pay after we finalize the settlement and have an agreement in place with the creditor.
Q How long does it take ?
A Usually 2 weeks to 5 weeks.
Q Can I arbitrate myself ?
A Most certainly, but you may find it difficult to deal with certain creditors. Our staff have backgrounds in debt collection, finance and business ownership, which all combined with our Debt Solutions system of negotiation, makes us very effective at what we do.
Q Who is the Credit Bureau ?
A The Credit Bureaus are privately owned companies, who, along with keeping your credit history on file (which they sell to subscribers, usually merchants) have collection departments as well as ownership in many of the larger outside collection agencies.
Q Can erroneous information really be removed ?
A Yes, most definitely.
Q What is the usual source of settlement funds ?
A Sources of funds are varied but include, family loan or co-signature, the sale of an unused asset ( Vehicle, RV, Boat etc. ), employer retirement plans, other unused debt (credit card, credit line, mortgage ) or consolidation loan. We will advise you on this.
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