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Frequently Asked Questions.

Find quick answers to the most common questions about our debt relief program.

Yes, enrolling in a debt relief program may impact your credit score. Most clients find the benefits of becoming debt-free outweigh the temporary effect.

If a payment is missed, it may delay progress in your program. Staying consistent ensures faster results.

Creditors may continue reaching out, but once settlements are reached, collection activity generally stops.

Stay calm and let them know you’re enrolled with MyDebtSolved. Then, direct them to our team for assistance.

We negotiate with your creditors to reduce the total amount you owe, creating a manageable repayment plan.

While rare, lawsuits can happen. If this occurs, we’ll guide you on the best steps to take.
Yes, but working with experts typically leads to larger savings and faster resolutions.
No, debt relief is not a loan. It’s a program where we reduce balances through negotiation.
Consolidation combines debts into a single loan, while debt relief reduces the amount owed through settlements.
Yes, until settlements are finalized, interest and fees may continue to accrue. Negotiations aim to reduce the overall burden.
Yes, debt relief programs are legal and widely used across the U.S.
The IRS may treat forgiven debt as taxable income. You may receive a 1099-C form if your debt is reduced.
No, you’ll need to stop using credit cards included in the program.
Most clients complete their program in 12–48 months, depending on the amount of debt.
Anyone with unsecured debt (credit cards, medical bills, personal loans) may qualify, depending on circumstances.
Yes, program accounts are set up in your name at an FDIC-insured institution.
For many people, yes. It provides a faster, more affordable way out of debt compared to paying minimums for years.
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