Debtmerica Website Disclaimer: Last Updated as of July 26, 2011
*Clients that are able to make the monthly program payments generally experience a 50% reduction of their enrolled balance before fees, or approximately a 29% reduction after payment of fees over a 24-48 month period. Individual results may vary based on ability to save sufficient funds and complete the program, the creditors in your individual portfolio, and amount of debt enrolled. Statements made are examples of past performance and are not intended to be a guarantee that your debt balances will be lowered by a specific amount or percentage, that you will be debt free within a specific time period, or a guarantee of future settlement results. Debtmerica, LLC guarantees it will not receive any fees until the terms of your debt have been altered with one or more of your creditors. While our programs work aggressively to reduce your debt balances, creditors are under no contractual obligation to negotiate or accept settlement offers. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice and we do not provide credit repair services. Please contact a tax professional to discuss tax consequences of debt settlement. By providing your contact information, you agree to receive return telephone calls, emails or other communications from Debtmerica, LLC and/or its affiliates and expressly waive any “No Call” preference or registration. Photographs used are not actual clients. Debtmerica, LLC is not affiliated with MSNBC, Fox, CBS, 500/5000 or OCBJ and logos used are registered trademarks of their respective owners. Programs not available in all states. Read and understand all program materials prior to your enrollment.
Debtmerica Debtpedia
| Term | Definition |
|---|---|
| Debit |
An item of debt as recorded in an accounting entry which results in either an increase in assets or a decrease in liabilities or net worth. |
| Debt Collector |
An agency that pursues payments on debts owed by individuals or businesses for a fee or percentage of the total amount owed. |
| Debt Consolidation |
Initiating one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan. |
| Debt Management Plan |
A unique strategy developed to help a debtor manage their debt. This strategy is usually developed and implemented by an outside company or organization on behalf of the debtor, usually because the debtor is unable to sufficiently manage their debt on their own, due to lack of knowledge or because they are overwhelmed by the amount of debt. |
| Debt Relief |
The partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. |
| Debtor |
A person, business or organization responsible for paying an invoice. |
| Deduction |
The act or process of deducting; subtraction. |
| Deficit |
The amount by which a sum of money is less than the required amount; specif., an excess of liabilities over assets, of losses over profits, or of expenditure over income. |
| Deposit |
To lodge in some one's hands for safe keeping; to commit to the custody of another; to intrust; esp., to place in a bank, as a sum of money subject to order. |
| Depreciation |
A decrease in price or value; decrease in value of an asset due to obsolescence or use. |
| Drawback |
A rebate on taxes or duty paid for imported goods which are subsequently exported in the same form or a different form. |
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