Why do I need Fidelity to negotiate with my creditors? I can do that on my own.
I've been paying the creditors on time on my own, why do I need Fidelity?
How much does your service cost?
How will this affect my credit?
Once my cash flow improves, can I pay extra?
Will I get monthly statements showing the reduced interest rates?
Can I continue to charge while I'm in the program?
When I make my first payment to you, should I continue to pay my creditors?
As my accounts get paid, can you reduce my monthly payment?
Will I still receive harassing phone calls?

Q: Why do I need Fidelity to negotiate with my creditors? I can do that on my own.
A: It's possible in some cases to negotiate with your creditors on your own. Some may be willing to arrange a payment plan with you. If you're looking for reduced interest rates, lower payments, stopped late fees and over limit penalties, you'll need Fidelity. As a non-profit organization, Fidelity Credit Counseling can secure these benefits not attainable by credit consumers.

Q: I've been paying the creditors on time on my own, why do I need Fidelity?
A: By continuing to make minimum payments, it will take you a lot longer to become debt free than if you paid through Fidelity. For example, by making a 2% payment monthly on $15,000 credit card debt at an average interest rate of 19.99%, it will take you more than 33 years and over $118,000 to pay off. More often than not, minimum payments barely pay for finance charges severely extending the time it takes to pay off. With Fidelity and reduced interest rates, most clients become debt free in 3 to 5 years.

Q: How much does your service cost?
A: A nominal monthly processing fee is required for the monthly maintenance of your account. This fee covers all expenses including postage, long distance phone calls, photocopies, facsimile charges, bank fees, data processing, and accounting services. Your first monthly payment is our fee used as a commitment to retain our services. This fee will be refunded upon successful completion of the program. Successful completion is defined as zero balances on all accounts originally included in the program.

Q: How will this affect my credit?
A: Fidelity does not report to the credit bureaus. If your creditors do, it will show up as a 3rd party payer or CC (for credit counseling). After your bills are paid to zero, that notation is to be removed from your credit report.

Carrying excessive debt may be doing damage to your credit rating. In our program, you'll continue to receive credit for on time payments while reducing your debt ratio. If you're currently behind, we will work with your creditors to re-age your accounts, that is, bring them back to a current status resulting in the stoppage of late fee and overlimit penalties and harassing phone calls.

Q: Once my cash flow improves, can I pay extra?
A: Of course, we encourage that. The more you pay, the quicker you will become debt free. If you'll be paying through auto debit, simply call us at least three days prior to your due date, and we'll debit the amount you request. You can specify which creditor gets the overage or allow us to pay the accounts with the highest rates first.

Q: Will I get monthly statements showing the reduced interest rates?
A: Absolutely. You'll continue to receive the statements from the creditors. They'll reflect reduced interest rates, the payments being made by us, and most importantly, the balances decreasing!

Q: Can I continue to charge while I'm in the program?
A: In return for the benefits of reduced interest and payments, the creditors ask that you don't incur any additional debt while enrolled in the program. This is an expression of your commitment to become debt free.

Q: When I make my first payment to you, should I continue to pay my creditors?
A: That decision is yours. We recommend you do to avoid late fees and calls from the creditors during the brief transition period of approximately 30 days.

Q: As my accounts get paid, can you reduce my monthly payment?
A: Sure we can. However we recommend that you keep your payment the same to reduce the amount of time you'll be in program.

Q: Will I still receive harassing phone calls?
A: Once your first payment is made to Fidelity, we will contact your creditors immediately. It may take a billing cycle or two before your creditors acknowledge our presence and stop calling you. In the interim, if they call, you may give them our toll free number and you're client ID number and we will field the calls for you.