Frequently Asked Questions

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  • Can my creditors sue me for not completing my payments?Open or Close

    Yes. Your creditors essentially have two avenues available to them to collect the money they feel you owe. Both avenues are fairly equal in their effectiveness in collecting the debt, however completely different in their respective costs to the creditor. One option is already built in to the operating overhead of a creditor, which is the collections department. Most everyone is familiar with the actions of this department and this department is exceptionally effective in getting the desired result for the creditor


    We now come to the second, more expensive avenue for the creditor to resolve an unpaid debt: lawsuit. In this regard, the creditor faces a statute of limitations on unpaid debt that varies by state. This statue tells the creditor how long the court system will be available for engagement by the creditor to force the debtor to pay the debt. Due to the high cost of retaining an attorney or a law firm to handle this for the creditor, the timing of the lawsuit will generally be timed to be filed just before the statute expires, thereby “freezing” the statue from running out. So, as you might imagine, common business sense dictates to the creditor to first exhaust the less expensive method of collecting a debt before he increases his costs by retaining legal representation for this matter, which is why we recommend that you have the same legal power as your creditors do if this matter should become an issue, as having legal representation is specifically important for this reason. Get in touch with our lawyers now and know what options are available for you.

  • Who should opt for our programOpen or Close

    Our services are designed for people experiencing financial distress who are looking for ways to quickly regain stability, but do not qualify, or want to avoid altogether, having to declare bankruptcy.

  • Who is NOT qualified for our services?Open or Close

    The Frank L. Kucera & Associates, PC. NEVER advocates that any person default on their debts. This program is not designed to negotiate debts for people who have reasonable means to pay them off. If your interest rates are in a reasonable range and you can pay your obligations by making payments somewhere over the minimums, then you should do so.


    Our program is for people who are otherwise gainfully employed but are, unfortunately, not making enough to leave them much left over after all the minimum monthly payments and the other household expenses are satisfied. If you are struggling to come up with enough each month, or you’re beginning to fall behind, and your credit rating is not as important to you as being able to breathe a little easier financially, then we may be able to help.


    Again, if you have a high FICO score that you are loathe to damage and… you are subsequently able to meet your monthly obligations without feeling financial suffocation, then this program is probably not in your best interests.


    However, if your FICO score is high, but you are beginning to suffocate financially, this is an indication to any future lender that your debt-to-income ratio is indicating that you are approaching financial insolvency, and that high FICO score will make no difference to any future lender. You might as well print your score on really nice paper, get it framed and hang it on your living room wall as artwork for all the good it will do you. At that point, worrying about hurting your FICO score is no different than desperately hanging on to a life preserver that is made of lead. It simply time to understand that your life will not be able to advance without doing something to fix your situation.

  • How long will the process take?Open or Close

    This depends greatly on each specific case. Generally, our clients can become debt-free between twelve to thirty-six months, depending on the program that is selected. However, some processing may take a bit longer depending on the circumstances surrounding any unsecured loans that are admitted to us.

  • Will this affect my credit standing?Open or Close

    In the short term, yes. However, if you have no history of delayed payments until recently, the damage to it will not be as severe. Any debt negotiation process will initially hurt your credit score, so please accept that. But again, it is temporary. With that said, after engaging and leaving our program, you will almost always see a very positive change to your debt-to-income ratio, thereby making you a more favorable lending risk to a future creditor, as they should see your disposable income far in excess of the loan service required to service the loan, allowing them to feel far more confident that you will be able to make your payments if any unforeseen financial events occur. Over time, if you use credit becoming available to you in a judicious manner, you will experience an ever improving credit score.

  • Is my information confidential?Open or Close

    Yes. You can rest assured that we keep will treat your information with utmost confidentialit.

  • What will I pay for your service?Open or Close

    The Frank L. Kucera & Associates, PC. program requires NO upfront fees. Period. All of our fees are performance based, and based only on what we are able to save you. At the point of settlement, we will earn 33% of the amount we save you. This means that “our pocketbooks are tied together.” In other words, the more we save you – the more we earn by percentage. Here’s an example: say you have $35,000.00 worth of debt. To start, no upfront fees are charged. If your $35,000.00 debt is settled for $11,550.00, then $26,000.00 was saved, or “forgiven.” Your fee would be 33% of that $26,000.00, or $8,580.00, or a total of $17,580.00, thereby saving you a total of $17,420.00. All this is calculated into your monthly payment that our highly qualified consultants will quote you. There are NO OUT OF POCKET COSTS.

  • How do I apply for your program?Open or Close

    The first step is to complete the short qualification form just to the right of this page titled “How can we help you?” Within 24 hours, one of our legal assistants will contact you to discuss further details and answer your questions.

  • Does Debt Settlement have a negative impact on my credit?Open or Close

    Yes, but it is generally temporary depending on other factors involved. How damaging it will be depends on your situation. As mentioned in the above answer to “Will this affect my credit standing?” there are certain negatives and certain positives. By design, most of the accounts you place into negotiation are likely to be “charged off” and show up negatively on your credit report. However, once our legal team has settled this debt, it is reported to the credit bureau as balance zero or paid in full. After we settle all your debts, your credit will improve significantly.

  • Can Frank L. Kucera & Associates, PC. stop my creditors from calling and harassing me?Open or Close

    Initially… no. Your creditors have the right to try to contact you, in order to collect. However, we have been very successful in eliminating most harassing telephone calls. If your account is in collections, however, collections agencies have to adhere to the 1996 Fair Debt Collection and Practices Act, which is arbitrated by the Federal Trade Commission (FTC). Under the law, when you identify to the collector the following: “My attorney has instructed me to have no further conversation with you. If you have questions regarding this matter, he has requested that I give you his number, (510) 451-4450, and for you to call him. Thanks. Have a nice day.” ‘click – buzz.’ You can also download a form for keeping track of calls at the finance management tips and tools page.

  • Does Frank L. Kucera & Associates, PC. repair my credit?Open or Close

    No. The Frank L. Kucera & Associates, PC. does not perform credit repair at this time. Currently, we recommend that if our clients seek credit repair services, they understand that credit repair will most likely be a temporary fix, depending on other factors involved.


    As mentioned in the above answer to “Will this affect my credit standing?” there are certain negatives and certain positives. By design, most of the accounts you place into negotiation are likely to be “charged off” and show up negatively on your credit report. However, once our legal team has settled this debt, it is reported to the credit bureau as balance zero or paid in full. After we have settled all your debts, your credit will begin to improve. This is primarily driven by two factors: The first is the sharp improvement in your debt-to-income ratio, making you a significantly better lending risk, giving you a larger pool of disposable income. Your future lender will see this surplus income as a “rainy day” offset, allowing him more piece of mind in making a loan to you, as he will feel that a tough situation will not be as disastrous for you, as it would to someone tapped out with too high a debt overhead. The second reason is simply akin to the old adage that “time heals a broken heart.” When lenders look over someone’s credit report with regard to their payment history, they are primarily focused on what a loan candidate has done over the last twelve to fifteen months. Anything after that has no real bearing on their loan decisions. As so you move through our program, out of our program and closer and closer to that twelve-to-fifteen month time frame, any negative marks on your credit report will, on a month to month basis, have less and less an effect on your future lenders decession.

  • Can I negotiate with my creditors on my own?Open or Close

    Yes you can. However, this process would be a long and complex one for the average consumer. Our legal team is made up of experts who are familiar with how creditors negotiate, with over thirty-one years of experience. Due to their contacts and expertise, they have been known to acquire the biggest debt reductions for consumers. Moreover, we settle in lots. Although this is very personal, we do not walk into your creditor with just your debt. Take Bank of America for a hypothetical example. Assume you owe them $10,000.00. You walk into B of A, get down on your knees, fold your hands and say, “Please, please, PLEASE Mr. Bank of America… please let me have a great settlement – and pretty please, give me really easy payments.” And we are right next to you, shoulder to shoulder with five million dollars of collective debt AND… the money to settle that debt immediately. Who do you suppose is going to get the better settlement? So yes, you can negotiate with your creditors yourself… much like an unlicensed individual can land an airplane on their own… but somebody is going to have to pick up the pieces.

  • What are the tax consequences?Open or Close

    Your creditors will report any canceled or settled debts exceeding $600 to the IRS, and you will be required to report this as income on your annual tax return. The IRS does permit you to write off any “income” from canceled debts up to the amount which was discharged. The Debt Reduction Law Center recommends that you consult with your tax adviser for advice in how this will apply to your situation.

No. The following are some debts bankruptcy will not be able to discharge:


  •      Alimony and child support
  •      Education Loans
  •      Tax debts
  •      New purchases owed that are more than $1,000 for luxury goods or services.
  •      New cash advances that are more than $1,000

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