A Debt Relief Company You Can Trust!

With over 30 years of combined experience, a Better Business Bureau A+ rating, and a zero complaint history, you can feel confident that PCS Debt Relief will be a debt relief company you can trust.

We are headquartered in St. Louis, MIssouri and offer our debt relief services nationwide.

(636) 209-4481

How is debt settlement different from bankruptcy?

Debt settlement is an approach to debt reduction that involves negotiating with creditors to accept a smaller amount than what you owe and forgiving the remainder of the debt.  Bankruptcy, depending on the type, is dismissing your debt or paying it off over a certain time frame.  Bankruptcy is a public record and will stay on your credit report for 10 years.

July 6th, 2016|

Can a debt settlement company provide legal advice?

No, a debt settlement company cannot provide legal advice, we are not experts in that area.  However, we can evaluate whether bankruptcy is an option you should consider.  If bankruptcy or any other legal advice is needed, we can help refer you to one of our trusted attorneys.

July 6th, 2016|

Is the amount I save on each of my settlements taxable?

The amount you save on each settlement can be taxable, if you cannot prove you are insolvent.  Many of our clients are able to prove insolvency since their debts are more than their assets.  By proving insolvency the forgiven debt is not considered income.

Any debt that is forgiven over $600 or more will be issued a 1099 by the creditor. We do not handle taxes therefore it is important to talk to your tax accountant […]

July 6th, 2016|

What do the debt settlement company’s fees cover?

The debt settlement company’s fees cover managing and negotiating your accounts until a settlement is finalized.  The fees also include unlimited support and advising time for our clients during the program.

July 6th, 2016|

How long does a debt settlement program last?

The amount of time a debt settlement program last depends on the debt settlement company and you.  The most important factor is the amount of money you have, or can save, to pay off your debt.  Most of our clients complete the program in less than 18 months. We recommend no more than an 24 month program, but your debt advisor will see what makes sense with your financial needs.

July 6th, 2016|

Will all of my creditors and collectors negotiate with debt settlement companies?

Most creditors and collectors will negotiate with a creditable debt settlement company.  Since we are a trusted debt settlement company, most creditors will work with us.  During your enrollment process with us, a debt advisor assigned to your case will let you know if we do not work with a certain creditor.  If, during the process of the debt negotiation, there is a situation where a creditor or collector will not work with your debt […]

July 6th, 2016|

How much will I be expected to save towards my debt settlements?

The expectation of what you should save towards your debt settlement is unique in each case.  That is why it is important to seek help from a professional to develop a settlement for your case. A debt advisor needs to know your situation before finalizing the outcome of the settlement. The outcome of the settlement depends on the amount you will need to save towards paying back your debt. One of our debt advisors will […]

July 6th, 2016|

What are my responsibilities once I enroll in a debt settlement program?

The most important responsibility you have upon enrolling in a debt settlement program is to make sure you are able to pay the settlement when the settlement amount is due.  Once that settlement is reached you are fully responsible at that time and date to pay back the debt.  The debt settlement process and plan makes it simple for you to attain or save the money needed but it is up to you to ensure […]

July 6th, 2016|

What is the purpose of a debt settlement program?

The purpose of a debt settlement program is to free you of debt as soon as possible by reducing the balances you owe.  As an added benefit, the program will save you all of the interest accumulation over the amount of time it would have taken to pay the debt back in full.

During the process we also help each individual learn the importance of paying debt back on time, gaining a better understanding of when […]

July 6th, 2016|

Will this have a negative effect on my credit report?

Debt Settlement programs can have a negative effect on your credit report while in the program.  Upon completing the program and all other factors remaining constant, then your debt to income ratio will improve. Currently by not doing anything with your debt, your debt income ratio is more than likely high, which would negatively impact your overall score.

 

July 6th, 2016|
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