Listed below are the most frequently asked questions that we receive. If your question is not listed, please e-mail us for further information.

How does your program affect my credit report?
This really depends on the creditor. While most creditors will waive late fees and re-age your account, it is important to consider this as an extra incentive to work with a debt consolidation company especially when you are behind in payments. Some creditors will make a notation in your credit report such as "Managed by Credit Counseling." Generally it is neither a plus nor a minus on your credit due to the fact that you are still making the payments. Also, your payments are computed based upon each individual creditor's requirements (what they deem to be acceptable). We do not report to the credit reporting agencies however, it is in the sole discretion of your creditors whether or not they report your credit counseling status, with most credit agencies acknowledging our program is a responsible way of dealing with overextended credit issues. For more information see Liz Pulliam Weston article .

Why will creditors lower my interest rates for you?
Creditors realize that we are many times the last resort for many people and they would prefer not assigning the account to the collection agency. They also realize that we work with people on debt management and budgeting. Since you have made a commitment to us, they feel that you are a better candidate to make monthly payments to us as opposed to filing bankruptcy. We also eliminate an awful lot of paperwork for the creditors and they appreciate that.

Why shouldn't I file for bankruptcy?
Most people file bankruptcy to escape bill collectors. With Kimberly Credit , we offer a safe and sound alternative to bankruptcy. As with most people interviewed, surveys show most people would rather not file bankruptcy. By enrolling in a Kimberly Credit program, our satisfied customers are able to avoid the bankruptcy mistake.

What exactly is unsecured debt?
Unsecured debt is when a creditor holds no collateral. For example, an unsecured debt is usually in the form of: credit cards, department store cards, medical bills, and gas cards. No form of collateral such as a home or car was utilized to secure the "loan" for services rendered or goods received. With a secured loan, and as a precaution against "default" (non payment) what is used as "collateral" for the loan could be liquidated.

When will my first payment be due?
When you enroll in our debt management program, you have a choice to pick the payment date that's best for you. You may choose any day from the 1st to the 30th of every month, keeping in mind that your first payment will be due within the first 30 days after enrollment.

Can I still use my credit cards?
Since your creditors know you have a sincere desire to get out of debt, usually the accounts that you have included in your debt management program are either frozen or closed until you are debt free.

Do I have to put all of my creditors on your program?
Unless one of your creditors specifies otherwise as a prerequisite for acceptance into the program you may include accounts at your own discretion

Can you help if I am being charged late fees and if I'm past due on my accounts?
Most creditors will waive late fees, over limit fees and will bring your accounts current. Most creditors will also re-age your account (showing no behind payments are due) once enrolled in our program.

Will I continue to get phone calls and collection letters from my creditors?
Most creditors will stop collection activity once they receive the first payment.

Must I remain on the program until I am debt free?
No. You are only enrolled on our program for as long as you want to be. You may terminate the plan at any time for any reason.

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