Credit card refinancing is the process of moving your existing credit card balances to a new credit product, typically a fixed rate term that offers a lower interest rate. 

The goal of refinancing is to reduce the amount of interest you pay over time and make your debt more manageable. Qualification generally depends on your creditworthiness, income, and overall financial profile. Unlike debt relief or settlement programs, refinancing does not reduce the principal balance you owe. If this is an option you wish to explore, our team is partnered with trusted lending institutions who will compete to give you the best option if you qualify.

Participation in a debt relief program may have an impact on your credit profile. Because creditors are not receiving full payments as originally agreed, your credit score may decline during the program. The degree of impact depends on your individual circumstances, including your credit history prior to enrollment and creditor reporting practices. While our goal is to negotiate settlements that reduce your overall unsecured debt, it is important to understand that results will vary and credit impacts are possible.

Any credit cards you enroll in the program cannot be used. We generally recommend retaining one card, not included in the program, for emergency use. This should be a card you are current on and intend to keep available.

If your circumstances change and you are unable to make a scheduled payment, please contact our Customer Relations Team as soon as possible—at least seven (7) days before your scheduled debit. We will review your situation and, when possible, work with you to adjust your payment schedule.

Yes. Debt settlement is a legal option. Debt relief firms must comply with federal and state regulations, and reputable companies do not charge upfront fees. Greater Financial LLC, powered by Verify Debt Solutions, only earns fees after settlements have been successfully negotiated and approved by you.

Consumers are protected under the Fair Debt Collection Practices Act (FDCPA) and applicable state laws. If you believe a collector is violating these laws, please notify our team. We document creditor interactions and, if appropriate, can connect you with consumer rights attorneys for further review.

Although lawsuits are not common, any creditor has the right to pursue legal action. If you receive a summons or legal paperwork, contact us immediately. We work with affiliated consumer law firms in many states that may be able to assist with legal representation or negotiations. Please note that Greater Financial LLC is not a law firm and cannot provide legal advice.

The process begins with a free, confidential consultation to review your financial situation. If you choose to enroll, you will make monthly deposits into a dedicated account that you control. As funds accumulate, our negotiators contact your creditors to seek settlements for less than the total amount owed. Only once a settlement is reached and approved do program fees apply.

You may request that creditors communicate with you in writing rather than by phone. You are not legally required to speak with collectors. If you receive frequent or harassing calls, please contact our team. We will provide guidance on how to respond appropriately and document the activity.

In many cases, creditors issue a 1099-C form for forgiven debt over $600, and the IRS considers forgiven debt taxable income. However, if you are insolvent (meaning your liabilities exceed your assets) at the time of settlement, you may qualify for tax relief. We recommend consulting a qualified tax professional regarding your individual circumstances.

The program is generally designed for individuals experiencing financial hardship who are unable to keep up with minimum payments on unsecured debts such as credit cards, medical bills, or personal loans. Typically, clients should have at least $10,000 in total unsecured debt and owe a minimum of $500 to each enrolled creditor.

It is common to receive calls from creditors or collectors during the program. However, collection practices are regulated by federal and state law. We provide resources to help you manage these interactions and can guide you on reporting any harassment.

Yes, you have the right to attempt negotiations yourself. However, many creditors are difficult to work with, and the process requires persistence, knowledge, and experience. Greater Financial LLC, powered by Verify Debt Solutions, has a dedicated team of professionals who negotiate with creditors on your behalf, often achieving results that are difficult for consumers to secure independently.

Debt settlement may be appropriate for individuals with $7,500 or more in unsecured debt who cannot reasonably repay their balances within a few years. Program success depends on factors such as your creditors, your ability to make consistent monthly deposits, and your overall financial situation. Many clients are able to resolve debts within 24–48 months, but results vary.

No. This is not a loan. Debt consolidation involves taking out new credit to pay existing creditors, often requiring strong credit scores to qualify. Debt relief, by contrast, involves negotiating with creditors to accept less than the full balance owed, resulting in a reduction of your total unsecured debt.

The program typically lasts between 12 and 60 months. The timeline depends on the total amount of debt enrolled, your monthly deposit amount, and creditor willingness to negotiate.

Yes. Funds in your dedicated account are held by a third-party financial institution and are FDIC insured up to applicable limits (currently $250,000 per depositor, per institution).

Yes, creditors may continue to add interest and late fees while accounts remain unpaid. This means balances may increase before settlements are reached. Our objective is to negotiate new agreements that significantly reduce the total balance, including any added interest or fees.

For many individuals struggling with unmanageable debt, settlement can provide meaningful financial relief. By reducing the total amount owed and consolidating payments into one monthly deposit, debt relief may help you avoid bankruptcy and regain financial stability. However, the program is not right for everyone, and results will vary.