Standard Legal Disclosures
1. Creditor Relations
Clients are advised that creditors are under no legal obligation to settle debts for less than the full amount. Negotiations may take several months to finalize. During this time, creditors may continue collection efforts, which could include phone calls, letters, or legal action.
2. Tax Implications
Debt forgiveness of $600 or more may be considered taxable income by the IRS. Architectural Sanctuary does not provide tax or legal advice. Clients should consult with a qualified tax professional regarding the implications of settled debt.
3. Program Fees
No fees are charged until a debt has been successfully negotiated and the client has made at least one payment toward the settlement agreement. Fees typically range from 15% to 25% of the total enrolled debt amount.
4. Client Obligations
Success in the program depends on the client's ability to maintain a consistent savings schedule into a dedicated account. Failure to fund this account may lead to program termination and inability to settle debts.