Debt Management

Navicore's Debt Management Program one-time enrollment fee and on-going monthly fee vary based on your state of residence and ability to pay. On average, our clients are charged a one-time enrollment fee of $48 and a $27 monthly fee. These fees are more than covered by the amount of money our clients typically save in waived late fees, waived over limit fees, and reduced credit card interest charges.

A Debt Management Plan simplifies the sometimes nerve-wracking process of paying too many bills. If you qualify for the program, Navicore Solutions can work with your creditors to possibly:

• Lower your monthly payments
• Lower or waive your interest
• Stop collection calls
• Waive late fees
• Consolidate your debt into an affordable repayment plan

Consumers who qualify for the Debt Management Program can enroll online or return their enrollment information to us via US Mail, fax or email. Once enrolled in the program, one monthly payment is sent to Navicore Solutions and we disburse payments to each of your creditors. You will continue to receive your creditor statements in the mail, so you can monitor all of your accounts. In time, you’ll notice on the statements that your balances will gradually decrease. Navicore Solutions provides ongoing budget and credit counseling while you are enrolled on our Debt Management Plan and we are available 7 days per week to help solve any financial challenges that might occur along your road to becoming debt free. Our Customer Service Representatives are also available to answer any questions and assist you in handling your accounts and payments. Call us today at 1-800-992-4557 with any questions.

The first step is to review your information with a certified credit counselor, who can help you determine the most appropriate solutions based on your situation. A Navicore Solutions counselor can also help create a budget that works just for you. All of our counselors are certified through the National Foundation for Credit Counseling (NFCC).

A Debt Management Plan allows you to make one fixed monthly payment on all of your unsecured debts. Your payment is sent to Navicore Solutions and we disburse your funds to each of your creditors. If the program is right for you, Navicore Solutions can work with your creditors on your behalf to possibly lower your monthly payments and interest rates, waive fees and simplify your repayment process by consolidating your debt into an affordable repayment plan.

This is up to you. If your counselor recommends a Debt Management Plan as the appropriate solution for your situation, your counselor can provide you with a link sent directly to your email upon completion of your session. By taking a few minutes to access, complete, and submit the information sent to you through this link, we can begin to contact your creditors and work towards establishing your Debt Management Program.

You will continue to receive your monthly statements from your creditors. After your first month on the program, you will also begin to receive monthly statements from Navicore Solutions which will provide you with the amount of your payment we received and is disbursed and sent to each creditor each month.

Navicore Solutions is not a lending institution and there are no qualifying factors to receive assistance from our organization.

• Budget Counseling
• Credit Counseling
• Housing Counseling
• Student Loan Counseling
• Bankruptcy Counseling and Education
• Financial Education and Workshops

Our program is designed to help you improve your credit score while paying off your debt.  While on our program, your creditors will receive agreed upon payments in a timely and consistent manner. This will result in your balances decreasing and your credit improving over time.

Although Debt Management and Debt Settlement may sound similar, they are very different. On a Debt Management Plan with Navicore Solutions we will establish an agreed upon fixed monthly payment with each of your creditors. Ongoing financial counseling will be available to help you maintain consistent monthly payments and pay each of your creditors in full. Alternatively, a settlement is when the outstanding balance owed to a creditor is negotiated to a lesser amount. The creditor usually requires that this amount is paid in one lump sum. A settlement company will retain your monthly payments and not send it to your creditors. Instead, after typically 6 months, they contact the creditors offering a settlement amount. This is very damaging to your credit because the creditors do not receive regularly monthly payments and they will advise the credit bureaus that the balance was settled instead of paid in full.

Typically, the program is designed for your accounts to be paid in full in 3 – 5 years. You can make additional payments at any time through your Debt Management Plan reducing the amount of time it will take for you to complete the program.

Collection calls will usually stop after three consecutive payments are made through the plan. If you receive a call from a creditor you can explain to them that you are working with us, and you should also let us know that the call was received.

Some creditors will begin offering the benefits of the program as soon as your account has been set up on a program. In some cases, it may take up to three consecutive monthly payments made through the program until all benefits are applied. You can monitor the benefits you are receiving by reviewing your creditor statements each month.