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FAQs/Questions: We have tried to be complete
but succinct on our site--but maybe there are still a few questions.
See if any of your questions are answered below, and if not, drop
us a line .
does Newport Financial Services begin settling my debt?
Q. If I miss a monthly payment to
Newport Financial Services, will I be dropped from your program?
Q. How do I find out the progress
of my debt settlement?
Q. I have a flexible monthly income.
Can I still participate in the program?
Q. Are my creditors going to continue
to call me?
Q. Will my creditors call me at work?
Q. Will my creditors continue to
contact me by mail?
Q. Will this program have a negative
effect on my credit?
Q. Why should I use Newport Financial Services
to settle my debts as opposed to handling it myself?
Q. Who do I call if I have a question
about the program or a problem with a creditor?
Q. Do I have to include all of my
creditors into the program for settlement?
Q. How long will it take for me
to become debt free?
Q. How much does this program cost?
Q. What if my creditors won't settle?
Q. Will Newport Financial Services stop late fees
and interest from accruing on my account?
Q. When does
Newport Financial Services begin my debt relief?
A. Once you have fully retained our services, your creditors
will be notified immediately and Newport Financial Services will begin the settlement
process. However, we can only settle a debt once the full
funds are available in your settlement account.
Q. If I miss a monthly
payment to Newport Financial Services, will I be dropped from your program?
A. No. Simply call our customer service department and we
will arrange payment over the phone. It is understandable
that circumstances may arise and we will help you get back
on track with your payment schedule.
Q. How do I find
out the progress of my debt settlement?
A. You can Call Us: 888.243.7888, Monday thru Friday from 8am -
5pm PST to speak with a customer service representative. You will
also receive monthly reports that will keep you informed of the
activity on your personal settlement account.
Q. I have a flexible
monthly income. Can I still participate in the program?
A. Yes. Our fees and payment schedule are on a client-by-client
basis. We will figure an affordable and simple plan for your
Q. Are my creditors
going to continue to call me?
A. We immediately notify your creditors that we are representing
you and demand they stop contacting you. It usually takes
about 30-60 days for them to stop contacting you. In the meantime,
you will keep a creditor log of every phone call or letter
that you receive from a creditor and report it to us.
Q. Will my creditors
call me at work?
A. They may attempt to contact you at work, however, once
we have notified them of your enrollment in our program, the
phone calls will stop altogether.
Q. Will my creditors
continue to contact me by mail?
A. Your creditors may also attempt to correspond with you by mail; however,
you will then immediately contact Newport Financial Services and report
this correspondence. We will handle all of your creditors and collectors
on your behalf.
Q. Will this program
have a negative effect on my credit?
A. The Debt Settlement Program may have a short-term negative
effect on your credit profile. However, once negotiated and
settled, your creditors will report the accounts as "settled"
or "paid in full". Once you have completed the program
and you are debt-free, we have affiliate companies available
to help you re-establish your credit profile.
Q. Why should I use Newport Financial Services to settle my debts as opposed to handling it myself?
A. Our team has extensive experience in negotiating debt and
working with creditors. We have an impeccable relationship
with creditors and collection agencies, who are usually unwavering
in negotiating with the consumer directly. Our team has extensive
knowledge in consumer debt and the Fair Credit Reporting Act,
as well as the Fair Debt Collection Practices Act.
Q. Who do I call
if I have a question about the program or a problem with a
A. Upon enrollment, you will be given an account number and
and will be able to contact an account representative who
will be handling your case. You can talk directly with any
account representative whenever you need to discuss a problem
Q. Do I have to
include all of my creditors into the program for settlement?
A. No. We recommend that you keep open at least one credit
card. Any accounts that are included in the settlement program
will have to be closed immediately. Creditors won't settle
accounts that are still open. You should keep one credit card
open for emergency use only.
Q. How long will
it take for me to become debt free?
A. It typically takes about 18-24 months after we've negotiated
the total amount of your debt down to 40%-60%. This includes
all fees. However, it could be much sooner depending on your
Q. How much does
this program cost?
A. Our Debt Settlement Program costs are based on an individual basis and
are determined by a Newport Financial Services Compliance Officer and you.
Your monthly payment will be determined by what you can comfortably afford,
and is based upon your level of debt, income, and living expenses.
Q. What if my creditors
A. Creditors know that if they don't settle for even a fraction
of the debt, they will most likely get nothing. Creditors
aren't dumb and they know that at a certain point, they have
to take what they can get! Most of them will settle very quickly,
wouldn't you? In the rare event that a creditor won't settle
with our offer, they will return with a counter offer that
will be favorable to you. Creditors know that if you declare
bankruptcy, then they will get absolutely nothing, and that
is what they are trying to avoid.
Q. Will Newport Financial Services
stop late fees and interest from accruing on my accounts?
A. Newport Financial Services cannot stop a creditor from adding interest
or late fees to an account. However, your individual program will reflect
those fees and/or interest, and is incorporated into the Settlement Program.
Because we negotiate the debt down to a fraction of what you owe, your savings
are far greater than any interest or late fees that could accrue.