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Frequently Asked Questions
Is Hoffman, Brinker & Roberts a consumer credit counseling agency?
No. Hoffman, Brinker & Roberts is a debt settlement company that works on behalf of the debtor in an effort to facilitate voluntary settlements with creditors for less than the full balance owed. Our objective is to provide our clients with an honest and ethical alternative to bankruptcy.
Is your service the same as debt consolidation?
No. Debt consolidation means that a person takes out a loan to pay off their existing debts, thus rolling (i.e. consolidating) their existing debts into one “new” debt. The goal of debt consolidation is to use a lower interest loan to pay off higher interest debt. Debt consolidation does not result in any debt relief or debt forgiveness. However, in the long run debt consolidation may save a person some money with respect to the interest paid on the outstanding debt balance. However, the full balance plus interest will be paid.
What types of debts can you help me with?
Unsecured debts. Examples of unsecured debts include credit cards, department store cards, and medical bills.
Unfortunately we are unable to help you with secured debts such as mortgages and student loans due to the fact that we have very little leverage in negotiations with secured creditors.
What is the minimum amount of debt that I must have to become a client?
Anyone that is interested in retaining our company must have at least $20,000 in unsecured debt. If a person’s overall debt total is less than $20,000 regrettably we cannot accept them as a client.
How long does the debt settlement process usually take?
It varies on a case by case basis. We’ve completed our work for clients in as little as 30 days and as long as 2 years. Statistically, though, 4-6 months is fairly common. One major factor that determines the length of time is how cooperative (or uncooperative) a person’s creditors choose to be. Another major factor is the length of time it takes our client to gather the funds required for settlement purposes.
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What are your fees?
Our fee structure is one of the main reasons why people hire us. We are paid on a contingency basis. This means we have to produce results in order to get paid.
Fees are based on the overall size and complexity of our client’s particular situation, and have ranged from as little as a few hundred dollars to over $10,000. Rest assured, if we accept you as a client we will state our fee in writing before we begin our work for you. That way our clients never have to worry about surprises at a later date.
If you apply to be a client at our office and you meet our new client criteria, we will explain our fee structure in detail at that time.
Will creditors and collection agencies continue to contact me after we hire your company?
Some will, some won’t. Shortly after you retain our company we will begin establishing dialogues with your creditors and request that all future collection calls and letters be directed to our office, rather than to you. Fortunately the majority of bill collectors will stop harassing you after we get involved, but you’re probably still going to get some calls and letters because we can’t absolutely force your creditors to stop contacting you. In other words, your creditors do reserve the right to contact you regarding outstanding debts that are still owed.
What kind of results can I expect?
It is impossible to predict exactly what your final outcome will be, however we can tell you we’ve settled debts for as little as $0.20 on the dollar and as high as $0.80 on the dollar. The majority of settlements we obtain for our clients, though, are for $0.50 on the dollar or less.
In addition, we would strongly advise you to be skeptical of any claims by our competitors that "guarantee" any specific settlement amount or percent reduction in your debt, because no one can absolutely guarantee any specific outcome. (But down deep you knew that anyway, didn't you.)
There is a lawsuit pending against me from one of my creditors. Don’t I need an attorney?
You might. If the lawsuit is still in it’s early stages, there might be an opportunity to negotiate an out-of-court settlement with the creditor’s attorney and have the case dismissed. In this instance, you most likely would not need to retain an attorney and we might be able to help you.
On the other hand, the creditor may not want to settle out-of-court. In that case, it would be a very good idea for you to get legal advice from an attorney on how to proceed with the lawsuit.
Hoffman, Brinker & Roberts is not a law firm and therefore we do not provide legal advice. If you are seeking legal advice, please consult with an attorney.
What effect will debt settlements have on my credit report?
This is a very common question. The short and direct answer is that your credit score will probably get worse before it gets better. That’s the trade-off for being granted substantial debt relief without filing bankruptcy.
However, the fact that you’re at this website seeking solutions to your financial challenges means that there is a pretty good likelihood that your credit report has already sustained some damage. Therefore, your credit score might not get a whole lot worse than it already is.
The bottom line is this >> If you want “good credit” you have to pay you bills on time. Period. End of story. Anything less, and your credit score will suffer.
Yes, having good credit is better than having bad credit. But remember, the real issue here is, "How are you going to satisfy your creditors and prevent them from suing you or forcing you into bankruptcy."
Why shouldn’t I just file bankruptcy?
Maybe you should. That’s for you to decide. For many people, though, bankruptcy is considered a drastic and last-resort option for the following reasons:
- If you file bankruptcy you will be required to appear in Federal Court for at least one hearing, maybe more.
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- The bankruptcy paperwork requires that you reveal all of your debts as well as all of your assets.
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- Credit bureaus are entitled to keep your bankruptcy filing on your credit report for up to 10 years.
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- In addition to your bankruptcy filing being listed on your credit report, a bankruptcy filing is also a matter of public record for anyone that wants to know about it. If your job requires any type of background check or security clearance, this could be a problem.
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- Certain types of bankruptcy require a court-appointed trustee to control and oversee your estate.
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- With a Chapter 13 bankruptcy filing, your employer will most likely be notified and automatically deduct pre-defined amounts from your wages
I’m interested in hiring your company. What’s the next step?
If you meet the minimum criteria and you wish to retain our company, please click here
For even more answers to common questions, please click here
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“Mark Brinker is an expert in his field. He knows the ins and outs of the credit card business. He is able to give expert advice gleaned from over a dozen years in the business. He told me from the outset what to expect, and he was right in every case. He reminded me that it was not going to be an “easy fix”. I was over a hundred thousand dollars in debt. I was going to be responsible for paying back some of the money through a settlement process. He reminded me that it would take 6 to 7 months to complete this action, but he reminded me that he would be with me every step of the way. I am now debt free. I sleep through the night. I can watch the commercials and television shows about credit card debt without becoming sick to my stomach. I am grateful for getting this new start.”
M.R. (retired school teacher)
"I would like to thank you for outstanding performance in taking care of my debt. I appreciated your extremely honest and personal approach. Very exact and fast feedback and spotless professionalism. Thank you again."
M.S. (engineer)
"After years of not seeing any light at the end of my financial tunnel, I can finally breathe a little easier. Your efforts and abilities are unsurpassed. I can't begin to thank you enough for all that you have done. I would recommend you without hesitation. Thank you!"
K.S. (health care provider)
"I was a great credit risk until I took a job for 2/3 less income. When all else failed Hoffman, Brinker and Roberts was there to help. You guys did an outstanding job working within my budget - I even came out with a few extra bucks! It's such a great feeling knowing that all my credit cards were paid and settled without totally ruining me financially. Thanks Mark!"
V.R. (registrar, medical facility)
"Just wanted to thank you and your staff for all the help you have provided to me over these past months. My wife and I have gone from being overwhelmed and exhausted by our debt situation to a much more comfortable place - a place where there is light at the end of the tunnel. Could not have done it without you!"
J.P. (computer programmer)
"Our company was already struggling financially. Then we got hit with a $42,000 lawsuit which had the potential to put us out of business. After 4 months, you were able to negotiate a settlement for us in the amount of $8,000 as payment in full. This was a much better alternative than bankruptcy - both for us and our creditor."
C.K. (president, construction company)
"When my wife first found out about the possibility of getting out from our debt through debt settlement I was very skeptical. After months of research we came across Hoffman, Brinker & Roberts as a very trusted source and a company we chose to represent us against our creditors. Ever since then we have never heard from our creditors again and we have saved tens of thousands of dollars throughout the whole process in becoming debt-free. Words cannot describe how much I want to recommend Hoffman, Brinker & Roberts to help someone like us to get out from their debts. Much appreciation and I cannot thank you enough."
T.H. (systems analyst)
"My family is very grateful to you for your assistance in relieving the enormous burden of our financial debt. Not only were you super-efficient and skillful in handling our many creditors, your kindness and sensitivity to our predicament was always very much appreciated."
C.V. (loan service rep)
"I can't begin to express adequately how appreciative I am of Hoffman, Brinker & Roberts for the help they afforded me. We had created a huge financial mess after the loss of a job and starting a new business. They literally shaved years off of our payback schedule of the accrued debt. They were professional, responsive, and effective in their approach. A special "thank you" to Mark Brinker who was always courteous and thorough in his communications and follow-up."
R.L. (financial consultant)
"Your company has done a fantastic job. Everyone was very helpful during my stressful time. You saved me thousands of dollars, and can't thank you enough."
M.C. (dog breeder)
"Although I had already battled the credit card companies until I was paying virtually nothing on those cards they still didn't want to negotiate. HBR almost immediately was able to find common ground for the companies and I. My $80,000 debt is now gone and I can breathe again. Now I can manage my money properly. Thanks for being so quick and helpful to me."
R.S. (assistant city manager)
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