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Preferred Financial Services is a member of the United States Organization For Bankruptcy Alternatives (USOBA), and all consultants are certified by the Center For Financial Certifications (CFC). Member of the Merrimack Valley Chamber of Commerce

Fill out the form above or call for your free consultation! 866-992-7400

Frequently Asked Question

Q: What is debt reduction?
A: Debt reduction is the process of negotiating a lesser payback to your creditors. This process offers our clients a consolidated payment and a large overall savings. We also give our clients the ability to be debt free in just a fraction of the time that would normally be associated with paying off their debts.
Q: What is unsecured debt?
A: This is a debt that is not attached to any item, bank account or property. Forms of unsecured debt would include: Credit cards, medical bills, repossessions, department store cards and personal loans.
Q: What is secured debt?
A: This is a debt that is secured by some form of collateral. That means that the balance owed to the creditor is a non-negotiable figure. Forms of secured debt would include: Mortgage payments, vehicle payments, student loans and income taxes.
Q: How do I apply for your program?
A: It's very easy! Just complete a confidential inquiry by clicking here and a debt reduction specialist will contact you to discuss your financial situation. Once the debt reduction specialist has reviewed your finances and completed a basic application, they can begin to tailor a program that will fit your financial needs.
Q: Do I have to include ALL of my credit card accounts?
A: NO. Our clients have the freedom to pick and choose which accounts they would like to include in our program.
Q: If I miss a monthly payment, will I be dropped from your program?
A: NO. Just contact our client services department so we can structure an arrangement to get you caught up.
Q: Will my personal information be kept private and confidential?
A: Absolutely! Our clients' privacy is very important to us and only authorized personnel will have access to your information.
Q: Why should I choose Preferred Financial Services instead of a credit counseling company?
A: Credit counseling programs are funded by the creditors as an alternate way to keep receiving monthly payments from the consumer. Therefore the credit counseling companies work for the credit card companies. Preferred Financial Services does NOT work for the creditors; Preferred Financial Services works for our clients. Since we are not funded by the credit card companies, our clients can be assured they we have their best interest in mind when we are dealing with their creditors.
Q: Is your program the same as bankruptcy?
A: Not at all. Debt reduction is for consumers who want to pay back their creditors but either can't afford the minimum payments or simply cannot justify paying such ridiculous finance charges. Bankruptcy is a way for a consumer to completely eliminate their debts and, in some cases; the creditor would not receive a penny. Bankruptcy laws, however, are very strict and most consumers may not be eligible now. Also, a bankruptcy reports as a completely separate note line on your credit report.a debt reduction program does not.
Q: Is there a penalty for early completion of you program?
A: No. Unlike many other companies, there is absolutely no pre-payment penalty of any kind with Preferred Financial Services.