General Disclosures Regarding Our Debt Consolidation Program

  • We do not guarantee the successful debt consolidation and negotiation on any particular account.
  • Commitment is essential for the success of this Program, and consolidations will not be attempted until you have accumulated sufficient funds in your designated Savings Account.
  • It typically takes 4-6 months before we can make our first good faith consolidation offer. We do so when you have accumulated approximately 25% of the particular enrolled debt that we make an offer to consolidate.
  • There is a possibility of lawsuit(s) being filed against you by your creditor(s). New Day Financial Solutions will not represent you or provide any legal advice in the event a creditor commences a legal action against you, and we do not guarantee that creditor actions will not be commenced.
  • We do not provide credit repair services or represent that your credit will improve by enrolling in our program. In fact, debt consolidation will likely adversely affect your creditworthiness, and any missed payments owed to creditors will increase the amount of debt owed based on the accrual of interest and penalties.
  • We are not an accounting firm and are not permitted to provide any tax advice. However, debt reduction may result in a tax consequence to you.
  • We charge a fee as a percentage of each debt enrolled that we consolidate for you. The fee is calculated on the total enrolled debt and charged at the time a consolidation is approved and a payment is made towards that consolidation.
  • We require that you create a dedicated savings account with monies to be used towards settling your debts and program fees. We can assist in creating that account.
  • During the term of the program, you may not use any credit cards, except a debit card or an employer sponsored credit card for approved expenses, unless specifically approved by us.
  • We will make every reasonable attempt to contact you for approval of all consolidation offers negotiated on your behalf. If we can’t reach you because you are not responsive to our attempts to call, email and/or text you, you may lose any consolidations.

DISCLAIMER: Copyright New Day Financial Solutions. Clients who make all of their monthly program deposits are estimated to pay approximately 70-80% of their original enrolled debts over approximately 24 to 48 months including program fees. Not all clients are able to complete their program for various reasons, including their ability to save sufficient funds. Our estimates are based on prior results along with industry data, which will vary depending on your specific enrolled creditors and your individual program terms. We do not guarantee that your debts will be resolved for a specific amount or percentage or within a specific period of time. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Our service is not available in all states and our fees may vary from state to state. Please contact a tax professional to discuss potential tax consequences of less than full balance debt resolution. Read and understand all program materials prior to enrollment. The use of debt consolidation services will likely adversely affect your creditworthiness, may result in you being subject to collections or being sued by creditors or collectors and may increase the outstanding balances of your enrolled accounts due to the accrual of fees and interest. However, negotiated consolidations we obtain on your behalf resolve the entire account, including all accrued fees and interest. New Day Financial Solutions does not discriminate on the basis of race, color, religion, marital status, gender, age, national origin or ancestry.