No, only unsecured ones, such as your credit card companies, banks, and bill collectors for such things as credit cards, unsecured signature loans, hospital and doctor bills, deficiency judgments, old residence lease payments, abandoned time share payments, etc.

Upon entering the program, you receive legal documents which establish a valid creditor/debtor relationship between you and the Collection Protection Group similar to the relationship you have with your creditors. This provides the legal framework to validate the program. You will be asked to sign the documents and return them to our office as quickly as possible. If you haven't already, you may then stop making payments to your creditors. In a broad overview, we will go through a series of legal steps to deter your creditors from wanting to pursue collections and being able to garnish your wages. Ultimately, this sets the stage for you to negotiate a favorable debt settlement with your creditors by putting you into a leveraged postion giving you the control over them.

Possibly, but not in all cases. If, for example, a credit card company has sued you and won, there is probably little we can do to protect you from that creditor. However, you probably owe on more credit cards than that one. CPG can protect you from those you still owe and there may be situations where we can protect you from existing suits. We will need to see all your documents to make a determination.

In October, 2005, there was a bankruptcy reform bill that went into effect. That bill changed the face of bankruptcy considerably. Chapter 7 bankruptcy, which is what most people used to be able to get out from under their unsecured debt load suddenly became much more difficult to qualify for. Unless one is earning less than average income in his area and has few assets, he will probably be forced into Chapter 13. That will require attending credit counseling, going through a “means test” in which a determination will be made as to what percentage of your debts you still must pay. Legally, this percentage can be from 0% up to 100%. We normally see about 40% being required. Earned income will then be the property of the court. A referee will be assigned to dole out the money depending on certain criteria. The bankrupt will be left with a portion of that amount to cover basic living expenses. This court appointed officer will be in control of all income until the debts are satisfied, which could take up to five years. The Collection Protection Group enables you to avoid bankruptcy. There will be no “means test”, no court appointed officer, and no payment plans to worry about. CPG wil protect you from your creditors; you will remain in charge and in control of your income and assets.