Frequently Asked Questions
We’ve answered a few FAQs to get you started. But please don’t hesitate to reach out with more.
Is Sunstar Debt a scam?
No, Sunstar Debt is a legitimate and trusted company that has helped many clients successfully manage and reduce their debts. Our team is dedicated to providing ethical and professional debt assistance services.
How does participating in a debt management program affect my credit score?
Participating in a debt management program can initially lower your credit score, as some creditors may report missed payments or account closures. However, as you successfully complete the program and reduce your debt, your credit score can improve over time.
Will I be totally debt-free when I am done?
The goal of the program is for you to be free of the debts we help settle. However, it’s important to continue managing your finances wisely after completing the program to maintain your debt-free status.
Will debt collectors call me while I’m in the program?
While debt collectors may still contact you in the early stages, Sunstar Debt will work to negotiate with your creditors to reduce or eliminate calls as part of the debt settlement process.
Do you guarantee that you will settle all of my debts for a certain percentage
Sunstar Debt does not guarantee a specific percentage for debt settlement, as each creditor and debt is unique. We work to negotiate the best possible settlements based on your financial situation.
What are the costs associated with your debt assistance services?
Sunstar Debt’s fees vary depending on your individual program. We ensure full transparency about all costs before you enroll, and there are no hidden fees.
What does debt management entail?
Debt management involves negotiating with creditors to reduce your payments, interest rates, or total debt. The goal is to create a plan that fits your budget and helps you resolve your debts faster.
How does Sunstar Debt work?
Sunstar Debt evaluates your debt situation and, if our program is right for you, we negotiate with creditors to reduce or settle your debts. We work closely with you to design a plan that fits your financial needs.
How can I identify a trustworthy debt management company?
Look for companies with positive client reviews, accreditations, and transparent policies. Sunstar Debt is known for its integrity, and we are dedicated to providing ethical and professional debt relief services.
Will I owe taxes on my forgiven debt?
In some cases, forgiven debt may be considered taxable income by the IRS. We recommend consulting with a tax professional to understand your potential tax liability.
Do interest and late fees continue to accrue on my accounts?
In many cases, interest and late fees can continue to accrue during the negotiation process. However, the goal is to settle your debt for less than you owe, which can offset those additional charges.
Do you start negotiating with my creditors right away?
Yes, once you enroll in our program, Sunstar Debt begins the process of contacting and negotiating with your creditors to work towards settling your debts.
Will my debts be sent to a law firm, and could this result in a lawsuit?
It’s possible that some creditors may take legal action, but Sunstar Debt works to negotiate settlements before debts escalate to this point. Our goal is to prevent legal action by resolving debts early.
