FAQ

1. Is Ontrack Financial Group™ a non-profit or a private company?

2. How can I afford to pay for your services if I'm already in debt?

3. What's the difference between unsecured versus secured debt?

4. What type of results can I expect?

5. If I enroll in your credit arbitration program, will my credit score be affected?

6. Is there a monthly fee?

7. Who will have access to my personal and financial information?

8. Can you lower my interest rates?

9. Can you stop the creditors and/or debt collectors from calling me at home and/or at work?

10. Can I continue to use my credit cards after I enroll in your program?

11. Is there a penalty for completing sooner than my program requires?

12. If I enroll into Ontrack Financial Group's ™ credit arbitration program, when will I begin to see results and/or payments towards my outstanding debt?

13. Can you improve my credit rating - remove baseless information from my credit report?

14.Can you guarantee what my offers will be?

15.Can you give me information about my creditor's history of offers?

16. Will prior offers with the same debt collection agency affect the outcome of my situation?

17. How does each collection agency know you are really working for me?

18. Are each of my accounts handled and resolved individually or collectively?

19. How will I know what each debt collector wants to resolve the debt for and/or their responses?

20. Does Ontrack Financial Group™ provide budget planning or credit-counseling services for clients?

21. Does Ontrack Financial Group™ control or direct my funds?

22. Who qualifies for Ontrack Financial Group™?

23. Do I have to be delinquent to qualify for a Ontrack Financial Group™?

24. How much does a consultation cost?

 

1. Ontrack Financial Group™ is a private company, which benefits you. How? Because, unlike traditional non-profit credit counseling agencies, Ontrack Financial Group™ does not depend on donations from creditors in order to cover the cost of doing business. Our service negotiates with debt collectors and law offices only, we are not a debt settlement, debt management, consumer counseling, or debt relief agency. Our business model allows us to better serve your interests.  If you do not qualify for our program Ontrack Financial Group™ will refer you to an alternative. 

2. To begin, Ontrack Financial Group™offers a simple fee structure available to each client.   By means of an affordable, structured savings plan that is created based upon your budget, the funds from your client owned, F.D.I.C. insured account is used towards your collection debt.

3. Simply put, unsecured debt is money owed without collateral. Some examples of unsecured debt might include

Credit cards
Lines of credit
Personal or signature loans
Medical bill

The other type of debt people usually have is called secured debt. Secured debt is money that was borrowed with a condition that if you fail to make your payments one (or more) of your possessions may be seized and sold by the secured creditor. Some examples of secured debt might include:

Mortgage(s)
Car loan/lease
Financing contract (e.g. furniture)

4. Ontrack Financial Group™ negotiates a fair offer to compromise with debt collectors and law offices(s) for resolution of collection debt. We  enroll charged off debt only. Following the completion of a client's personalized program, Ontrack Financial Group's™ typical client has seen their unsecured debt written off for percentage les than owed. Individual results may vary based on ability to save funds, amount of debt, willingness of collectors to negotiate, and the successful completion of all program terms. Program does not assume or pay any debts, nor provide legal or tax advice. 

5. Your credit score is not likely to drop during our program, because we only negotiate with debt collectors and law offices on accounts that are charged off. 

6. Ontrack Financial Group™ will implement a cost effective fee structure to suit your situation. 

7. In order to provide the necessary services promised through our contractual agreement, Ontrack Financial Group™ will share non-public personal information with vendors and processing companies only when necessary. For instance, Ontrack Financial Group's™ Program Advisors will provide (our third-party processor) with the information necessary to set up your personal F.D.I.C. insured special purpose savings account. With regard to confidential information, only select Ontrack Financial Group™ personnel whose purpose is to serve our clients' best interests will have access to this information. 

8. Ontrack Financial Group™ is not in the business of negotiating with your creditors, or lowering interest rate on a particular debt. 

9. Because Ontrack Financial Group™ credit arbitration services are all about results, the company has been successful in reducing the number of harassing calls that our clients receive from their creditors. Ontrack Financial Group™ encourages its clients to familiarize themselves with the Fair Debt Collection Practices Act, (FDCPA), that seeks to protect consumers from abusive debt collection practices by debt collectors. 

10. Because Ontrack Financial Group™ focuses on mending charge off accounts the use of your credit cards is up to you. We do, however, recommend using a debit card instead. 

11. Not at all 

12. Following the accumulation of funds in a client owned, F.D.I.C. insured savings plan, Ontrack Financial Group's™ professional consumer credit arbitration specialist will negotiate directly with the collection agency or law office immediately. Individual results may vary based on a client's ability to save funds, the amount of debt, willingness of creditors to negotiate, and the successful completion of all program terms.

13. Ontrack Financial Group™ programs are designed to resolve, settle and eventually eliminate a client's debt with debt collectors and law offices . It should be noted that Ontrack Financial Group™ will make every effort to have them remove inaccurate or baseless information from your credit report. However, Ontrack Financial Group™ cannot guarantee the results.

14. Ontrack Financial Group™ cannot guarantee what will happen now or in the future until an agreement with the debt collector has been reached, acknowledged, conveyed and accepted by all parties. However, it should be noted that Ontrack Financial Group's™ typical client has seen a good fraction of their debt written off following the successful completion of their credit arbitration program. Individual results may vary based on ability to save funds, amount of debt and willingness of creditors to negotiate.  Ontrack Financial Group™does not offer any guarantee of case results. The cases mentioned in this site are illustrative of some of the matters previously handled by the firm. These illustrations, though based upon cases handled by this office, are representative only and should not be viewed as an assurance of a particular result in your case. Each case must stand on its own facts and circumstances. 

15. Ontrack Financial Group™ acts as an agent for our clients and will exercise professional business ethics in negotiating with debt collectors and debt collecting law offices on your behalf. While Ontrack Financial Group's™ may share publicly distributed information regarding a collectors policies, we will never disclose confidential information regarding current or prior clients without the expressed consent of the client.
16. Ontrack Financial Group™ subscribes to the highest code of business ethics and standards. Prior agreements for other clients with the same collectors are all handled on an individual and confidential basis and would never affect negotiations undertaken on your behalf. 

17. Each agency receives a package that contains the necessary letters that are mailed to your creditors requesting that all correspondence being sent to you, be redirected to us.

18. Ontrack Financial Group™ processes and each account individually. In addition, we will never attempt to resolve a debt without prior knowledge that you have the capital necessary to negotiate when an offer is given. Ontrack Financial Group™ does not have access to your account. 

19. Ontrack Financial Group's™ communicates offers, responds to offers, and forwards the final settlement agreement to the client along with the payment instructions proposed by the creditor in accordance with the  agreement.

20. No. Industry related articles such as budgeting, credit reports and scores, loan consolidations, credit card usage, and financial guidelines and tips are provided periodically. WE DO NOT provide legal or tax advice.
21. No. Ontrack Financial Group's™ utilizes a reputable, third-party escrow processing service. Additionally, this client owned and controlled F.D.I.C. insured special purpose savings account is viewable on-line 24/7. Following a successful arrangement with one of your collection accounts, the necessary funds are transmitted to your creditor based upon the terms agreed to.

22. Our clients include professionals, students, the self-employed, singles, married couples, single parents, seniors, and a host of others. Generally, we approve those consumers with collection debt. 

23. Many people experiencing financial hardship realize that their cash or cash flow will not be sufficient to satisfy their debts since their overall debt situation has deteriorated to the point where they are, or will be unable to meet their other financial obligations such as rent or healthcare. Communicating early with creditors can often prevent accounts from becoming delinquent or being turned over to collection agencies.  We highly recommend speaking to Consumer Credit Counseling before going deliquent. However, in the event your accounts do become delinquent and a Collection Agency or Law Office is employed (by your creditor) Ontrack Financial Group's™ has the expertise to step in and resolve your collection account(s). 

24. $79.99, however during this economic time we have waved the consultation fee.

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