US Financial Management, Inc.

Once a debt is settled, the amount saved can be reported as income to the IRS.  If you are relieved of more than $600 when your debt is settled, the savings may be reported buy your creditor to the IRS as “Discharge of Indebtedness” income.  For more information on tax ramifications, please consult a tax preparer, CPA or tax attorney.  Or, you may refer to IRS publication 908, “bankruptcy Tax Guide” and IRS Form 982, “Reduction of Tax Attributes Due to Discharge of Indebtedness,” which are available on the IRS website.

Your information will never be sold or given to anyone. By law, we must keep our Clients’ information private. Our company also signs a confidentiality contract with you stating that any personal information will only be released to the necessary parties for the settlement of your account.

The program is based on your commitment to set aside enough money that can allow us to negotiate the best terms for settlement on your behalf.  US Financial Management contacts your creditors after you are officially enrolled in the program.  The negotiation process starts immediately.  This enables us to open up lines of communication with them.  As funds accumulate in your settlement account, settlement offers are submitted to your creditors.  It is very important that you save according to the program because the funds need to be available to obtain the best settlement offer possible from the creditors.   Once a settlement is reached, we will contact you and pending your approval, a “Settlement Letter” will be obtained.  This process continues until all your debts are settled.  The decision to pay the creditor will always be yours.

The settlement program typically takes 12-48 months, depending on how much you owe and the amount you can save towards your debt each month.  Please remember that the percentages stated are a reflection of savings at the time of settlement and illustrate the average amount saved on settled accounts only.  Savings vary on an individual basis and do not include any service fees. U.S. Financial Management cannot guarantee that a creditor will accept a settlement offer. Time period is based on individual circumstances and results may vary.