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 Why Choose PSI's 
 Debt Settlement Services
 Instead of the Alternatives?

    

         

 

 

Basic Approach to Business Debt Reduce total amount(s) owed by up to 70%.  Result: typically helps company restore its cash flow, avoid bankruptcy, and have a stronger balance sheet.
Simplify Client’s debt situation to one monthly payment--which is often higher than Client's existing minimum monthly payments due to the longer repayment term of the consolidation loan.  Result: Client often pays 50-100% more than the total of its original debts.
Upfront or Setup Fees? One time small initial deposit which is refunded to client by PSI as a 20% credit to PSI's earned fees until sum of such credit is equal to the total of the initial deposit paid. Client’s first 2 or 3 monthly payments typically are kept in full (i.e., are NOT applied to debts) by the Consolidator or Debt Management firm. Other monthly fees also may apply.
"No Fee If No Debt Savings" Guarantee? Yes--fee paid by Client is based solely on the $ amount of debt savings achieved. No--consolidator’s fee is not dependent on $ amount of debt savings achieved.  Fixed fees almost always apply.
Is Fee Based on the $ Amount of Debt Owed?  Or on # of Creditor Accounts? No: As PSI’s fees do not depend on either of these variables, more-heavily indebted Clients are not, in effect, penalized for it. In many cases, yes, fees are charged based on either the $ amount of debt owed or the # of creditor accounts.
Are Monthly Payments
or Escrow Deposits Required?
No monthly payments: However, PSI opens an escrow account for Client at a major, local bank and many Clients find it helps to keep a balance in the account equal to 20% of unsettled debts.  Escrow account is in Client’s name, is interest-bearing, and all funds in it are returned to Client when the relationship with PSI ends.  PSI never touches Client’s $ without written authorization. Client must send in monthly, non-refundable payments to consolidator, who keeps a % of every payment before paying creditors.
How Long Process Takes; How Likely Client is to Complete It PSI works at “Client’s pace”: if Client is able to pay reduced-$-amount debts to multiple creditors, PSI process may take only 2-3 months.  If not, process can take longer. Most debt-consolidation progms have 3-to-5-year terms.  Related fact: about 75% of those starting consumer debt-consolidation programs don’t complete them.
Effect on Business Credit Rating Client’s business credit rating (e.g., Dun & Bradstreet) has already dropped due to late or missed payments.  By reviving cash flow, PSI helps to clean up balance sheet, which lifts company's credit rating and strengthens its finances.
Client’s credit rating (e.g., Dun & Bradstreet) could be lowered and stay lowered due to the consolidator's long-term process.
Do Interest and Late Fees Continue Accruing on Unpaid Debt During Settlement Process? Yes, but the Client's debt savings are FAR more than any accumulated interest or fees. Consolidation loans usually stop late-payment charges, but they also have their own interest rates and longer repayment terms.  Client typically repays 50 to 100% more than the total debt owed.
Performance Source Inc
Debt Consolidation and non-PSI
"Debt Management" programs