PBM’s negotiation process
Tested and developed over years of experience by our team of professionals in the field of finance and credit card debt. Our professionals are highly skilled in each of their fields of expertise.
Creditors are willing
To negotiate a debt with PBM, on behalf of our clients, with the understanding that the ‘settled amount’ will be paid in a timely manner.
Creditors are ooking to avoid the ineffective and costly efforts of an outside collection company. PBM continues to develop our relationships with creditors throughout the country, and we always maintain a very professional and cooperative relationship with the creditors in order to reach the most favorable settlement offers for our clients. We work directly, and 100% for you.
Solving your debt problems without the need for bankruptcy. Our representatives work each case individually to determine your eligibility, and then, if you qualify, they will establish a program that best fits your financial situation.
For more information
Complete our brief information form on the right to contact us. An PBM representative will contact you to discuss how to get started today. There is no cost or obligation.
PBM Debt Settlement Program
is intended for people who have had a severe financial hardship and want to avoid filing for bankruptcy. Below is a general overview of how our program works; however before you make any decisions we strongly recommend that you read and review all of your options. Speak with one of our experienced debt consultants who can explain the program in detail and see if you qualify.
Who is qualified for our program?
PBM’s debt settlement program is only for people facing financial HARDSHIP. This means people who are late on paying their debts, have little or no ability to pay their debts in the future, and are facing a possible bankruptcy.
(Examples of qualifying hardships are a loss of income, medical emergency, death of a member of the household who provided financial assistance, or a divorce, excessive interest rates, failed business, home arrest, reduction in pay/hours, unemployment).
Who is NOT qualified for our program?
PBM does not recommend that any person default on their debts. Our program is not designed to negotiate debts for people who have reasonable means to satisfy their debts. If you are capable of paying your debts in the normal fashion, by making minimum payments, then you should honor your debts and do so. Also, our program is NOT for people who have high credit ratings, and can meet their monthly debt obligations.
How will PBM Settle My Debts?
PBM will review you current financial situation and come up with a monthly payment plan you can afford that will get you out of debt as soon as possible. This amount will be determined in your initial analysis based on total amount of debt and will be in line with your income and expense budget. We will set you up with a trust account to hold all settlement reserves and fees. Once you have accumulated enough settlement reserves to make a reasonable offer to your creditors to settle the debt, PBM will begin the negotiation process.
Each person’s situation is different and the negotiation process will begin at different times depending on the amount of your debt. Once the creditors agree to a settlement amount, we will present this offer to you. If you approve of the settlement, we will instruct the creditor to fax over the ‘settlement offer’ in writing. Then a check will be distributed from your trust account and we will overnight the check to your creditor. The creditor will be required to sign for the check to show proof of delivery. Once proof of delivery is returned we will update your trust account on line with the tracking information for your records.
Debts can be settled in two different ways
One lump sum or a term settlement. One lump sum is just that, one payment and the account is paid.
A term settlement is a settlement which is paid over an extended period of time until the account is paid. PBM then moves through each debt until all of your debts have been paid and you are debt free.
How do you apply & get this process started?
Complete the form online. A debt consultant will review your information and call you to go over your situation. After reviewing your financial situation and hardship, they will determine if you are qualified for our program.