Frequently Asked Questions:

What is the purpose of the Collection Protection Group's program?

Will this protect me from all my creditors?

How does the program work? Is there a lot of work for me to do?

What if I already have a judgment against me? Will this still protect me?

Does the fee for the program take into consideration how much I owe or how many credit cards I have?

Is this similar to bankruptcy?

Does the Collection Protection Group include debt settlement negotiation?

Is this credit card debt elimination?

Can you legally eliminate debt?

How does this differ from debt consolidation?

Will the Collection Protection Group's program help me avoid bankruptcy?

How long will I have to be involved with the Collection Protection Group?

Q1. What is the purpose of the Collection Protection Group's program?

A1. To provide a system that protects your income, assets, and bank accounts from creditor collection actions and forcing them to deal with you on your terms.
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Q2. Will this protect me from all my creditors?

A2. No, only unsecured ones, such as your credit card companies, banks, and bill collectors for such things as credit cards, unsecured signature loans, hospital and doctor bills, deficiency judgments, old residence lease payments, abandoned time share payments, etc.
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Q3. How does the program work? Is there a lot of work for me to do?
A3. Upon entering the program, you receive legal documents which establish a valid creditor/debtor relationship between you and the Collection Protection Group similar to the relationship you have with your creditors. This provides the legal framework to validate the program. You will be asked to sign the documents and return them to our office as quickly as possible. If you haven't already, you may then stop making payments to your creditors. In a broad overview, we will go through a series of legal steps to deter your creditors from wanting to pursue collections and being able to garnish your wages. Ultimately, this sets the stage for you to negotiate a favorable debt settlement with your creditors by putting you into a leveraged postion giving you the control over them.
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Q4. What if I already have a judgment against me? Will this still protect me?
A4. Possibly, but not in all cases. If, for example, a credit card company has sued you and won, there is probably little we can do to protect you from that creditor. However, you probably owe on more credit cards than that one. CPG can protect you from those you still owe and there may be situations where we can protect you from existing suits. We will need to see all your documents to make a determination.
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Q5. Does the fee for the program take into consideration how much I owe or how many credit cards I have?
A5. Our fees are not based on how much you owe or how many credit cards you have. It is based on a criteria found to be both universal and typical across the board with the time necessary to service each client.
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Q6. Is this similar to bankruptcy?
A6. In October, 2005, there was a bankruptcy reform bill that went into effect. That bill changed the face of bankruptcy considerably. Chapter 7 bankruptcy, which is what most people used to be able to get out from under their unsecured debt load suddenly became much more difficult to qualify for. Unless one is earning less than average income in his area and has few assets, he will probably be forced into Chapter 13. That will require attending credit counseling, going through a “means test” in which a determination will be made as to what percentage of your debts you still must pay. Legally, this percentage can be from 0% up to 100%. We normally see about 40% being required. Earned income will then be the property of the court. A referee will be assigned to dole out the money depending on certain criteria. The bankrupt will be left with a portion of that amount to cover basic living expenses. This court appointed officer will be in control of all income until the debts are satisfied, which could take up to five years. The Collection Protection Group enables you to avoid bankruptcy. There will be no “means test”, no court appointed officer, and no payment plans to worry about. CPG wil protect you from your creditors; you will remain in charge and in control of your income and assets.
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Q7. Does the Collection Protection Group include debt settlement negotiation?
A7. Our firm does not do debt settlements; we set the stage by giving you the the “leverage” – that makes an excellent debt settlement possible. However, if you prefer not to do your own debt negotiation, we can refer you to professional negotiators who have an excellent track record in getting exceptionally low debt settlements for their clients.

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Q8. Is this credit card debt elimination?
A8. No, that term is a misnomer. The only true way to eliminate your credit card debt or mortgage debt is to pay it off. Don’t be fooled by anyone using this term. This is why our program is far superior to many others on the market. We make it possible for our clients to negotiate and pay off their debts for pennies on the dollar and start over with a clean slate.
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Q9, Can you legally eliminate debt?
A9. As mentioned above, the only way to truly eliminate debt is to pay it off.  The purpose of the Collection Protection Group is to enable you to pay off your debts for the lowest amount possible by making you uncollectable to your creditors.  Many companies selling programs promising to legally eliminate your debt will use confrontational approaches in the courts to challenge the validity of credit cards and the extension of credit. The weakness in these systems, no matter how good they sound and how logical they may appear, is that there will always be that one individual – the judge – over whom no one has control.  No matter how valid the argument, if the judge rules against you then you will be forced to pay your debts in full plus interest and fees.
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Q10, How does this differ from debt consolidation?
A10. In debt consolidation you move unsecured debt into secured debt, frequently by using a second mortgage on your home. While a lower interest rate may seem appealing, in the long run you will pay out much more with consolidation than with any other program. The only way to judge it is to actually do the math.

Q11. Will the Collection Protection Group's program help me avoid bankruptcy?
A11. CPG is a viable alternative to bankruptcy in that it will give you similar protection from creditors and keep creditors from harassing you with phone calls and demand notices.  The big advantage is that our program will not destroy your credit for 10 years and you will not be under the supervision of the court system.
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Q12. How long will I have to be involved with the Collection Protection Group?
A12. Depending on how quickly you can afford to settle with your creditors, you can expect to be in the program for 12-18 months to gain sufficient leverage with your creditors.  How soon you settle with your creditors is always up to you – we never deal with the creditors or collectors directly.
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