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Thank you for your patience. Now, here’s a breakdown of your approved program:

• Your total estimated debt amount being enrolled is ($XX,XXX).
• We are projecting to negotiate that balance down to an estimated ($XX,XXX).
• Your monthly minimum program payment is ($XXX).
• Which saves you ($XXX) per month.
• Based on you making your payments on time this will get you out of debt in an estimated XX months.
Alperstein & Associates charges a fee of (XX%) of the debt enrolled for its services. These fees are only payable to the attorney if they can successfully renegotiate, settle, reduce, or otherwise change the terms of the debt owed to your creditor. There are no penalties for completing the program early, so you can feel free to add anything extra into your settlement account to get out of debt faster.

What questions do you have about the numbers we just went over?

The following terms are an important part of your agreement, so let’s talk through them.

On the Retainer Agreement, you will see estimated settlement amounts. Understand that these are estimations based on their prior results. Actual settlement amounts and the period required to settle your debts are estimates and are likely to vary by Creditor. While most creditors and collectors are eager to negotiate, Alperstein & Associates cannot force them to accept an offered settlement.

You have explained that you are experiencing financial hardship and will be voluntarily stopping minimum payments required by your creditors. As a reminder, when you do this, you will have a negative impact to your credit rating. Alperstein & Associates does not offer credit repair services or advice. If you have any automated payments set up with these creditors, you should speak to your attorney about whether you should cancel these. The law firm doesn’t make monthly payments to your creditors.

Your creditors may continue to pursue collection efforts while you are enrolled in the program. These may include phone calls and letters to you, sending delinquent accounts to collection agencies or even filing a lawsuit against you.

Have you been served legal paperwork on any of the accounts you enrolled? Are any of these accounts currently in judgement status?

Keep in mind the law firm is unable to collect their fee unless they deliver you a newly negotiated payment plan, so they have a vested interest in reaching a settlement quickly.

Generally, the more money you can set aside, the sooner they will be able to start negotiating settlements for you, so feel free to add anything extra into your settlement account to get out of debt faster. When presented with good settlements that may require additional funds, you may receive a call or email from the Law Firm to present this opportunity to you. Please note that while this is helpful, it is not required.

The law firm will contact you when they receive settlement offers. It’s very important that you respond timely because they need your authorization to approve the settlements and release your settlement account funds to your creditor. When the law firm reaches out to you to approve a settlement, they will call from 443-646-4744. It’s important that you save that number in your phone, so you do not miss that call! You may face a tax consequence in the form of a 1099 because creditors must report the amount of debt that is forgiven for tax purposes. You may be eligible to file an IRS 982 form to discharge the tax based on insolvency. If this occurs, you should consult your tax advisor for more information.

What questions do you have about the information we just went over?

Next Steps

  1. Typically, within 7-10 days you can expect the law firm’s Client Service Team to reach out for your welcome call to confirm I have covered all our required program details with you.
  2. You will receive a call from your attorney for initial consult. Expect to receive this call soon and ensure that you respond promptly.

Please go to your email, so I can walk you through your Retainer Agreement and finalize your paperwork.

Before we finish our call, are there any additional questions that I can answer for you?

Congratulations (client name), you’ve made the right decision today and you are in great hands with our trusted partner Alperstein & Associates. Have a great day!