Program Disclosure Statement

1. Program Objective

You are enrolling in a debt settlement program where The Resettle Group LLC will negotiate resolutions between you and your creditors for your unsecured debts. No specific results can be predicted or guaranteed.

2. Client Savings Requirement

You must save sufficient funds and adhere to a regular deposit schedule. Your funds will be held in a separate FDIC-insured dedicated account that you control. The Resettle Group LLC does not hold custody of your funds. You may withdraw your funds at any time without penalty.

3. Settlement Estimates

Any estimates provided regarding potential settlement amounts or program duration are estimates only. Actual resolution amounts, and the period required to settle all of your debts, are likely to vary, possibly substantially, from these estimates.

4. Creditor Negotiation

The Resettle Group LLC cannot force creditors to negotiate or to accept an offered settlement. Communications with creditors are handled on a case-by-case basis, and some creditors may not be contacted for several months after your enrollment.

5. Not a Credit Counseling Service

The Resettle Group LLC is not a credit counseling service and does not make regular payments to your creditors on your behalf. Your creditors may continue to pursue collection efforts, including lawsuits, on delinquent accounts while you are enrolled in the program. Your accounts may also be transferred to third-party debt collectors during the program.

6. Program Duration

Your debt settlement program assumes an effort that will continue for many months. The time required to complete the program depends on multiple factors, including the nature and extent of your financial hardship, the age and balance of your accounts, the funds available for settlement, and the willingness of your creditors to negotiate.

7. Fee Structure

Fees paid to The Resettle Group LLC are not available to pay creditors and are intended to compensate the company for its debt settlement efforts. Our fee is 25% of the amount saved per settled account. You pay no settlement fees until a successful settlement is completed.

In addition, your dedicated, FDIC-insured escrow account is administered by an independent third-party payment processor that charges separate service fees, including a monthly service fee of $10.95, an annual account fee of $20.00, and settlement disbursement fees of $10.00–$25.00 per disbursement. Other fees may apply for returned items, stop payments, and non-standard refund methods. A complete schedule of account service fees is provided during enrollment.

8. No Legal Services

The Resettle Group LLC is not a law firm and does not provide legal advice or counsel. If you are experiencing a lawsuit or legal action from a creditor, you should consult with a licensed attorney in your state.

9. Credit Reporting Impact

Delinquent accounts may be reported to credit reporting agencies as late, delinquent, charged-off, or past due. Even if we are successful in negotiating a less-than-full-balance resolution, your creditor may report to the credit reporting agencies that the account was “settled for less than the full amount.” Participation in a debt settlement program will likely have a negative impact on your credit score.

10. Tax Implications

When your creditor agrees to settle a debt, a savings of $600 or more may be reported by your creditor to the IRS as Discharge of Indebtedness income on a Form 1099-C. You should consult with a qualified tax advisor regarding any potential tax liability. Refer to IRS Publication 908 and IRS Form 982 for more information.