After working with many different kinds of debt problems over the last eight years, Heartland Financial Services (HFS) has made the following group of services available throughout the country:

BANKRUPTCY
American Bankruptcy Counselors (ABC) affiliated attorneys provide Chapter 7 and Chapter 13 bankruptcy legal services through a network of over 300 law firms located in all 50 states, Washington D.C. and Puerto Rico.

COLLECTION/JUDGMENT PROOF STRUCTURING
Legal Advocates for Seniors and People with Disabilities (LASPD)® is a legal service program for those individuals whose sources of income and assets are protected by law. The sources of income include: Social Security, Disability, ERISA Pensions, Veteran's Benefits, Worker's Compensation, Public Assistance, Child Support and Alimony. Although these sources are protected, they often do not provide their recipients with sufficient income to pay their unsecured debts.  LASPD attorneys explain this situation to creditors, advise these creditors to direct communication to them and request that they cease collection activity. In those cases where creditors continue to harass clients, LASPD attorneys contact the creditors to advise them that such behavior is not only unproductive but may also be illegal.

LUMP SUM DEBT SETTLEMENTS
If a consumer is in a position to produce a lump sum of cash through a home loan, 401(k) or some other asset, ABC may be able to negotiate a single reduced payment to all creditors. For the consumer, the savings are usually 40%, including legal fees.

STAGED DEBT SETTLEMENTS
HFS also works with several debt settlement companies who have developed programs for consumers who are unable to produce a lump sum of cash. In these programs, the consumer makes a single monthly payment into a trust account. As cash accumulates, creditors are offered settlements. These programs are structured to settle debts in 2 ½ to 3 years. The savings here are also usually 40% of the matured debt, including all fees.

REFINANCING AND HOME EQUITY LOANS
HFS works with several nationwide mortgage lenders to provide home equity and refinancing loans. These funds can be used to pay off debts in full or for lump sum settlements. However, this service is also available for the consumer who is looking to lower their monthly payment through a reduced interest rate.

REVERSE MORTGAGES
With a reverse mortgage, a senior (at least 62 years old) can convert the equity in their home into a source of income (either in a lump sum or in monthly installments) without having to sell their home. Repayment of the loan is not required until the borrower sells the home or dies. HFS is working with one of the leading issuers of reverse mortgages to help senior homeowners get additional income.

WORKOUTS
When a traditional credit counseling company is unable to enroll a consumer into their program, Legal Advocates for Consumers in Debt (LACD) may still be able to assist the consumer through its attorney supervised debt management plan. This plan gives clients a chance to eliminate their unsecured debts through a single affordable monthly payment that is distributed to their creditors based on creditor counseling guidelines.

DEFAULTED STUDENT LOANS
If a consumer has federally guaranteed student loan(s) and is in default, HFS has affiliated with a company which is experienced in utilizing benefits made available through a government sponsored program that in many instances will lower the interest rate and monthly payment and change the consumer’s status from defaulted to good standing.

NON-DEFAULTED STUDENT LOANS
If a consumer has federally guaranteed student loan(s) and is not in default, HFS can direct them to a company which can arrange for consolidation financing through a government sponsored program that in many instances will lower the interest rate and monthly payment.

IRS NEGOTIATIONS
For consumers who owe the Internal Revenue Service back taxes, either business or personal, HFS can direct them to specialists who can negotiate with the IRS. Remedies include installment agreements and offers-in-compromise. The latter allows the consumer to negotiate a cash settlement for substantially less than what is owed.