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Service Fees for Clients Who Are Also Using RISK FREE to Settle Unsecured Debt
(Rates may vary for clients who are not settling unsecured debt)
For Mortgages, Equity Lines and Commercial Real Estate Loans
To produce a written offer from your lender to classify your account as “current”, while canceling or reducing your mortgage payments by amounts which you have accepted:
Results are even worse for borrowers who happen to be human (!) and make occasional mistakes, such as paying late once in a while, or missing a scheduled minimum
payment due to illness, oversight or even a simple mailing error. Each time this sort of unavoidable event occurs, the debt balance is extended for many months.
This is true because if only a few dollars per month (less then a tenth or twentieth of the payment) are going to pay off principal, and a payment is missed, then
it will add ten or twenty months
to the payoff period just to catch up with the already miserably slow standard payoff period of dozens of years. The situation is absolutely hopeless.
| Mortgage Payment Amount (incl. Escrows) | RISK FREE service fee |
| Payments exceeding $ 3000 per month | 1 monthly payment |
| Payments from $ 2500 to $ 2999 per month | 1.3 monthly payments |
| Payments from $ 2000 to $ 2500 per month | 1.5 monthly payments |
| Payments from $ 1500 to $ 2000 per month | 2 monthly payments |
| Payments from $ 1000 to $ 1500 per month | 2.5 monthly payments |
| Payments under $ 1000 per month | 3 monthly payments |
In no case will the service fee exceed one third of total amount of payments deferred.
For Vehicle Loans
To produce a written offer from your lender to classify your account as “current”, or in the case of leases, an offer from your lender to totally
cancel the lease (if more than 10 lease payments are remaining due), while canceling or reducing your vehicle payments to amounts which you have accepted:
The service includes canceling or reversing any threatened or pending repossessions(s).
| Vehicle Payment Amount | RISK FREE service fee |
| Payments exceeding $1,000.00 per month | 2 vehicle payments |
| Payments from $ 750 to $999 per month | 2.5 vehicle payments |
| Payments from $ 600 to $750 per month | 3 vehicle payments |
| Payments from $ 400 to $600 per month per month | 3 vehicle payments |
| Payments from $ 400 to $600 per month per month | 4 vehicle payments |
For Other Secured or Guaranteed Loans (UCC filings, equipment, etc.)
Generally, the formula for vehicle loans sets the benchmark for negotiation services to
bring accounts current. There can be special arrangements where loan terms allow for these. In the case of loans guaranteed by government or other agencies, such as student loans or Small Business Administration loans, there may be limitations on the freedom of lenders and RISK FREE to negotiate changes in terms or other modifications.
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