Luminor Financial Overview
With millions of consumers seeking debt relief Luminor Financial offers programs to quickly relieve financial problems by helping thousands eliminate their debts. We will work directly with your creditors and/or collection agencies for you while negotiating your debt amount as low as we can to provide an affordable financial situation for you. Our process will remain confidential while we help eliminate your debt so you can be relived from the stress of debt and creditor harassment .
Our teams providing client services and attorneys will work one on one with you while we negotiate your debts for you with the creditors. Our attorneys will usually be able to reduce your debt of your current principle amount and get you out of debt entirely within 12 to 36 months with our debt settlement programs.
If debt settlement is not a perfect fit and if your in need of filing chapter 7 bankruptcy to walk away from 100% of your debts for good, we have that option available as well through our bankruptcy attorneys.
We have one goal in mind and that is to be with you all the way until we eliminate your debts for good. Call us today to speak with a representative to discuss the best options we have for your situation (877) 802-1811.
Frequently Asked Questions
- Is debt settlement the same as debt consolidation?
- How long will your program take?
- How will debt settlement affect my credit?
- Does Luminor Financial keep my information confidential?
- Do I have to be delinquent with my debts to be eligible for your program?
- How do I get approved for your program?
- What are the fees for your services to complete the debt settlement program?
- Does the debt settlement program work for all of my creditors?
- Do I have to include all of my debts or can I choose only the ones I would like you to resolve?
- Will all of my debt be eliminated when I finish the debt settlement program?
- What can I expect as a result of your debt settlement program?
- How does debt settlement compare to bankruptcy?
- Are your services guaranteed?
- How can I be sure this will work?
- What is the difference between unsecured debt and secured debt?
- Does secured debt ever become unsecured debt?
- Will I continue to get calls and collection letters from my creditors?
- Will you contact all of my creditors on my behalf?
- Will interest charges continue to accrue on my debts?
No. A debt consolidator makes one loan to you to pay off all of your debts. They charge you interest on this loan and in some cases you are still required to pay interest to your creditors. As a result, your principal debt balance remains the same and you remain years away from becoming debt free. With our debt settlement program, our highly skilled negotiators will negotiate on your behalf utilizing our experience and the debt collection laws to significantly reduce your debt. In most cases you will only pay a fraction of what you owe. Typically, with our Debt Settlement Program we resolve our clients debts in 9 to 24 months, often sooner.
The length of time it takes to complete the debt settlement program varies from case to case and depends upon your acquiring the funds available to resolve your debt. This will be discussed with you during your free consultation. Typically, we settle most of our cases in 9 to 24 months often sooner.
Debt settlement is a bankruptcy prevention program and may adversely affect your credit if your debts are current and you have no history of late payments. The debt settlement program will, in the end, improve your debt to income ratio and may therefore improve that portion of your credit score. Since you will have resolved your outstanding debt through our program your future creditors will see that you settled your debts instead of filing bankruptcy.
Yes. Luminor and affiliated law firms are bound by "Rules of Professional Conduct" and maintain your confidentiality at all times. We will only disclose information to those persons that you have authorized to receive that information. All of the creditors that you have contracted us to settle for you will be contacted by us and advised that you have retained Luminor to represent you.
No. Our debt settlement program works with debtors in all stages of collection.
We are not for everyone and everyone is not for us. If you are in debt, employed and serious about resolving your debt, take the first step, the free online consultation. After the consultation we will advise you of your acceptance into the program or other options available to you.
The fees for each case vary based upon the complexity of your financial situation and the effort required by us to assist you to zero debt. This will be discussed with you in detail during the free consultation. It is important to note that with our fees included you will pay a fraction of your debt balance.
No firm can guarantee that every creditor will accept an offer to satisfy your outstanding debt. We have years of experience settling millions of dollars of debt and have built our reputation and integrity with our customers by only accepting cases that we can resolve for a fraction of the debt. After your free consultation we will know your financial situation and will be able to advise you on what expect from the program.
With our debt settlement program you can select which accounts you would like us to settle for you. This will be discussed during your free consultation.
When you follow all of our procedures you can expect to have zero balances on all unsecured accounts that you've contracted us to resolve. You will still be responsible for your secured debts i.e. mortgages, auto loans, etc. and unsecured debts that you did not retain us to settle.
You can expect a substantial reduction in what you owe to your creditors. While each case is different and results vary we typically settle our clients debts for 25% to 45% of the balances owed.
Bankruptcy was designed to be your last resort and has a devastating effect on your credit rating that lasts for seven to ten years. Debt settlement is a bankruptcy prevention program and will provide you with financial freedom without the long-term affects that come with a bankruptcy
We offer a 100% guarantee that our services will work for you. Before we accept your case we will perform a thorough analysis of your cash flow and debts. When we can help you we will, and if we don‚Äôt think we can help you, we won‚Äôt accept you into our program. We have settled millions of dollars of consumer debt and our reputation and integrity have been established by a great success rate. We have an A- rating with the Better Business Bureau because of the integrity and dedication to customer service of our program.
We take great pride in, and our reputation is built on, getting our clients out of debt. After analyzing your financial situation you will either be accepted into the program, which means we can help you, or we will advise you of your best options. This will be discussed with you during the free consultation.
An unsecured debt generally arises out of a contract entered into with a creditor that enables you to obtain goods and services on credit in exchange for your promise to repay the creditor. Credit cards, medical loans and personal loans are the most common types of unsecured debts. If you are delinquent with this type of debt the only recourse the lender has is legal action. A secured debt is a loan where the creditor retains a security interest in real or personal property such as a house or an automobile. If you fall behind on payments with this type of debt the lender has the ability to repossess the property in order to mitigate their damages. If your property is repossessed and sold you remain liable for any deficiency balance that remains after the sale. Certain exceptions apply depending on the nature of the security interest. The laws regarding home mortgages vary from state to state and the lenders rights usually depend on the terms of the mortgage and whether any other lenders have an interest in the real property. In these situations it is important to seek legal advice to protect your interests.
A secured debt may become an unsecured debt in situations where the property securing the loan has already been repossessed and sold by the creditor. If the sale of the property does not meet the contractual obligation the consumer owes a deficiency balance. This deficiency becomes an unsecured debt. Certain exceptions may apply and will depend on the security interest.
Once you are accepted into the program we will provide your creditors with the appropriate correspondence that will keep them from calling you; however, there is no law that prevents creditors from sending written correspondence to you. Do not be afraid to read these letters. In fact, it is important that you read each letter carefully as you are certain to get settlement offers from your creditors as a result of your admittance to our program. Settlement letters and any letter of concern should be forwarded to our Client Relations Department.
Yes. A letter will be sent to each of your creditors advising them that you have retained our firm to represent you. We will demand that they cease all communication with you and we will demand that all future correspondence be directed to our office on your behalf.
Yes. However as a practical matter, you need not concern yourself with these charges. In most cases our skilled negotiators will get your creditors to remove these charges while significantly reducing your principle balance as well.