 Profile
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Founded in 2000, New Era Debt Solutions is the brainchild of Dan Smith and Alex Viecco, entrepreneurs with an interest in the financial services industry. New Era Debt works on behalf of consumers in the specialized field of debt settlement. Debt settlement is based on the principle of negotiating with creditors so that debtors are only required to pay back a portion of their balance, interest, and fees. This differentiates it from credit counseling and debt consolidation, which require the client to pay back all money owed to the creditor over a period of time. By negotiating with creditors, New Era Debt frequently obtains a mutually agreeable sum to be paid by the debtor, adding on an extra percentage as a charge for its services. Unlike other debt-settlement firms, however, New Era Debt prides itself on a fair, customer-friendly set of policies, only taking fees when it achieves significant savings for a client. If a consumer does not receive at least a 25 percent discount from any one creditor, New Era Debt will not charge the client a settlement fee on that portion of the debt. If New Era Debt successfully negotiates a significant balance reduction for the client, the settlement fee is 17 percent of the gross debt amount when the account is settled. There will literally be no fees paid until a settlement is done. New Era Debt is an experienced negotiator of credit card debt, medical bills, repossessed vehicle debt, and other general unsecured debt. The company does not handle mortgage, home equity, or student loan debt cases.
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