What is an Escrow Account?

TABLE OF CONTENTS

• Key Features of the Escrow Account:
  1. Secure & Regulated
  2. Dedicated to Your Program
  3. Real-Time Tracking
  4. Builds Leverage for Negotiations
  5. No Access by Creditors

An escrow account is a secure, third-party account used to hold your funds during the course of your debt relief program with Debt Consultants Group (DCG). It serves as a central hub for collecting, storing, and disbursing the money that will be used to pay creditor settlements, cover program fees, and manage banking costs.

The account is established in your business’s name and managed by an independent escrow provider that specializes in handling funds for debt resolution programs.

Key Features of the Escrow Account:

1. Secure & Regulated
   
   Your escrow account is held by a licensed and bonded third-party financial institution, not by DCG. This ensures compliance, safety, and transparency. You—and only you—retain ownership of the funds in the account.
   
   

2. Dedicated to Your Program
   
   The account is exclusively used to support your debt relief efforts. All of your weekly contributions are deposited here, and no funds are withdrawn without your written approval of a settlement or program-related expense.
   
   

3. Real-Time Tracking
   
   You can monitor your escrow balance and transaction history at any time through your client portal. This gives you full visibility into how your money is being allocated, including:

   • Funds available for settlements

   • Fees paid

   • Scheduled disbursements
     
     

4. Builds Leverage for Negotiations
   
   Creditors are more likely to agree to reduced settlements when they see that you’re setting aside funds in good faith. Your growing escrow balance shows financial commitment and strengthens DCG’s ability to negotiate effectively on your behalf.
   
   

5. No Access by Creditors
   Because this is a separate, protected account, creditors cannot access or debit it—providing you with greater control and shielding your funds from unwanted collections or legal action.

In summary, your escrow account is a vital tool in your debt relief program. It provides structure, protection, and transparency—allowing you to take consistent steps toward financial recovery with peace of mind. Your Case Manager can answer any questions you have about your escrow account at any time.