American Credit Alliance, Inc. is a proud sponsor of The Society For The Relief Of Distressed Debtors. Originally created in 1787 by Alexander Hamilton, the Society was re-established by Alan Franklin, President of ACA since 1992. The Society was created to help debtors survive debtor prison! Hamilton counseled debtors and provided them with soup and bread.
The current SFRDD serves as the central entity to help both debtors and creditors create workable solutions to our present debt crisis for all type of debt, including credit cards, student loans, and housing. The Society is not a government agency, but does work with the CFPB and other regulatory agencies including the FTC.
We decided to re-create the Society to help debtors facing foreclosure, by providing them with a holistic approach to solving their situation, so they could emerge debt-free with decent credit, and keep their home through a justifiable loan modification with their existing loan servicer.
What we did is ask the major creditors to reduce interest charges, preferably to zero, or the lowest hardship rate they could justify. The program makes sense to creditors because they realize that the present terms, at high interest rates, were not sustainable for people facing foreclosure. When we presented our plans, most creditors agreed with us and decided support the Society!
We charge a flat $50 monthly service fee, and pass all the interest savings along to you, the client. We also do not to ask creditors to pay us traditional fees called fair-share, which are contributions. Instead, we ask the creditors to pass those savings on to the debtors.
To qualify for this timely program, you must be delinquent two months (counting the current month) on your mortgage. Even if you are with another Housing Counseling Agency, we can help you. You continue to stay with that Agency, and they continue to be your Housing Counseling Agency to help you get your loan modified. We deal with the other creditors to get you the best hardship benefits possible.
Please contact us to see if you qualify. There is no obligation. We are a licensed Debt Adjuster and Budget Planner by the PA, NJ, and NY Banking Departments, and have been a 501(c)3 HUD-approved Housing Counseling Agency since 1992.
Call 800-501-PLAN (7526), Ext. 1129 to speak with an ACA representative about debt relief!