A lot of friends ask me this, because they know Thav Gross has made a mark for resolving credit card debt outside of bankruptcy – though a process we call “Debt Resolution.” In 2007, I created our Debt Resolution program as a means of resolving credit card debt for clients who did not qualify for bankruptcy (typically because they earned too much money), or for one reason or another – did not want to file bankruptcy. It is designed for the person who has substantial credit card debt (typically, over $25,000) and while making the minimum monthly payments (or more) the credit card balances are not going down. We call this the Credit Card Trap. You’re the mouse on the wheel – paying, month-in and month-out, but getting nowhere.

Here’s how we do it. We resolve the debt by ceasing to make any payments and then utilizing the monthly payments as a settlement fund to resolve the debt and cover the attorney fees. The parameter we use is that the fund created by the monthly payments must be projected to resolve all the debt and cover the legal fees within 18 – 24 months. Brian Small, my partner, refers to this as “The Power of the Minimum Monthly Payment” because it allows you to resolve all the debt and the costs to do so – in about 18 to 24 months – rather than keep paying that same payment for the rest of your life.

The program covers all costs – and the fee is only 8.5% of the debt. Sometimes a creditor files a lawsuit in the course of the program and we defend the lawsuit at no cost and settle the debt as part of the program. In fact, we use the litigation process, when necessary – to gain a better settlement by pressing the credit card companies’ malicious marketing and application of payment abuses against them in the litigation to gain leverage.

You need to know that Debt Resolution is not “Debt Settlement” – which is a program that does not work well, but you hear thousands of radio and television commercials about. Debt Settlement companies falsely claim that you are “eligible” for a special program to settle your credit card debt and that it will occur with a set monthly payment over an approximate 48 month period. They then charge you 15-18% of the debt, plus monthly fees to hold your monthly payments and the settlements are dismal. And then – if you get sued – they don’t defend you and refer you to an attorney at more cost. This is a bad program. There is no “set monthly payment,” there is no “program you are eligible for,” 48 months is too long – and when you get sued, they abandon you.


Thav Gross

Debt Resolution Program


Debt Settlement Programs

Projected Time Frame to Eliminate Debt 18-24 Months 48 Months
Legal Cost 8.5 % of Debt 15-18% of Debt
Are you required to deposit money monthly? Never Yes
Are you charged to hold your monthly deposits? Never Yes
Settlement Range of Program 35% – 45% 50% and Higher
If you get sued, are you defended at no cost? ALWAYS NEVER
How Complicated is the Retainer Agreement? 2 Pages – Simple and Plain

10 or More Pages

Small Font

Bottom Line – Debt Resolution works and is a great way to eliminate credit card debt if you meet the parameters. It’s our program – designed to solve the credit card problem – rather than a get rich scheme for secret owners of a misleading marketing machine. To learn more – attend one is out FREE Seminars or call us for a FREE face to face consultation.

Enjoy the remaining days of Summer!