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Debt Solver Plan
Frequently Asked Questions

 

What is a Debt Solver Plan?
How does it work?
How long will it take?
How will the DSP affect my credit?
If I enroll in a debt management plan, can I continue to use my credit cards?
Will my creditors stop interest while on a Debt Solver Program?
Can I make extra payments?
What if I can't make a payment?
How do I make a payment?
Where can I access my account?
What happens when I complete the program?
Who Pays for the Debt Solver Plan costs?
Where can I get help budgeting?

What is a Debt Solver Plan?
The Debt Solver Plan (debt management) is a systematic method to pay off unsecured debt. If there is not enough money in your budget to make the payments to your creditors but there is enough for reasonable payments, SUREPATH will contact each creditors on your behalf to request:

  • reduced payments
  • lowered interest and finance charges
  • waived late fees and over-limit fees
  • stopped collection calls

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How does it work?
While participating in a debt management plan you make one payment each month to SurePath and we disburse the funds to your creditors.  After four consecutive payments, creditors will stop calling and will provide you the concessions you need to successfully payoff your debt.

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How long will it take?
The length of your Debt Solver Plan will vary depending on your outstanding balance and the payments your creditors accept. The maximum length of time for a Debt Solver Plan is 60 months.
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How will the DSP affect my credit?
Several factors affect how your credit report will look after completing the Debt Management Plan.  These include what your credit report looked like when you entered the plan, the consistency of your payments while on the plan, whether you increased payments over time, and a creditor’s reporting policies. 
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If I enroll in a debt management plan, can I continue to use my credit cards?
No, if you decide to participate in the Debt Solver Program, you must stop using credit.  As a rule, your creditors will close or suspend your lines of credit.  Upon successful completion of the plan, some creditors will reestablish your credit based on your current ability to pay and your payment history while enrolled in the plan.
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Will my creditors stop interest while on a Debt Solver Program?
Your counselor will be able to tell you if any of your creditors will consider lowering interest charges.  However, the majority of the creditors do lower interest.
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Can I make extra payments?
During the course of your participation in the Debt Solver Plan, you may find that your finances have improved.  If this does occur, make larger payments to save interest and become debt free sooner!

Remember, there are no additional fees for additional payments made through us, so direct payments to creditors are rarely necessary.  You may be able to make increased or extra deposits with a pay raise, tax refund, bonus, gift or inheritance.  Even something as simple as a paid off debt.  For example, if your car pays off, you may be able to apply some of those funds to speed up your debt repayment through the Debt Solver Plan. Call 877-615-7873 or click here to make a payment online.
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What if I can't make a payment?
If you have unexpected expenses and are unable to make a payment, it is very important to contact SurePath.  Creditors are under federal regulations regarding the length of time they may grant concessions so it is important to make consistent monthly payments.  When you miss a payment your creditors will most likely charge late fees.  You also risk that your Debt Solver Program will  be closed and higher interest reinstated.  Contact SurePath at clientservices@surepath.org or call 866-615-SURE if you are unable to make a payment.   We will update your account information, the reason for non-payment, and the date you expect to make payment.  We can then share that information with any creditors who contact us for the reason for non-payment.   If possible, you send at least a partial payment.  Also, after two missed payments we are normally required to close your Debt Solver Plan.
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How do I make a payment?
You can make payments with one of three methods:
1) SMART PAY – convenient, automatic monthly deductions from your savings/checking account
2) Cashier’s Check or Money Order
3) Debit Card (in Camarillo only)
4) Pay by phone - Payments from your checking account must be processed 3 days prior to your due date. 
5) Online Payments
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Where can I access my account?
Online information about your account is available 24 hours a day.  You can check balances, verify payments, and update information via our interactive phone system at 877-615-SURE or visit our website at www.surepath.org.  You’ll need your account number and PIN number to access your account information.  In addition, at least quarterly, you will receive a statement from SurePath reflecting all deposits made to each creditor as well as your approximate balances.  If you do not know your PIN number, email webaccess@surepath.org
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What happens when I complete the program?
There is life after debt! We recommend you verify with your creditors that your debt is paid in full.  After a couple of months, call us for an exit interview.  Your counselor will assist you in creating a new Money Action Plan to help your further your financial goals and establish a process to re-establish credit.
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Who Pays for the Debt Solver Plan costs?
Most of SurePath Financial Solutions funding comes from voluntary contributions from creditors who participate in the DSP, some creditors contribute up to 10% of the amount of funds disbursed. SurePath will work with your creditors regardless of whether or not they contribute to SurePath Financial Solutions. Each client pays a monthly fee of 8% of their disbursed funds not to exceed $35.
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SurePath Financial Solutions, a nonprofit organization, provides caring, innovative solutions that educate and empower consumers to successfully handle immediate financial challenges and plan for their future.