Is the DVI Debt Relief Program Legit if I’m Pre-Approved?


Dear Steve,

My husband and I are retired, living on about $1,700 social security. He’s working sporadically, he was driving over the road, and money wasn’t a problem.

I received a letter from a company called DVI Debt Relief Program. Is this legit?
Says I’m pre-approved for $10,000 to $20,000 for outstanding credit card balances.
Monthly set aside payment $168.75

Will this help me.



Dear Judy,

I could not find something specifically for DVI Debt Relief Program when searching online. However, I did find that a company named Debtvantage, Inc. uses DVI as an alternate business name. – Source

Forget the fact that I can’t seem to confirm who the offer is really from. That’s actually not material in this situation.

The bigger issue is if any debt relief program makes sense for you. You didn’t share what kind of assets you have. For example, maybe you have lots of money in a bank account, but my experience tells me that resources may be limited.

If you are trying to get by with limited Social Security income and sporadic money you can’t count on, any debt relief approach or loan would not be my first inclination.

Before worrying about the debt, we first need to be concerned about your ability to live safely, have utilities, feed yourself, and take care of your medical needs.

Dealing with your debt falls down the line after those concerns.

You did not mention how much or what kind of debt you are trying to tackle. I’m assuming it is credit card debt since that is what the ad triggered for you.

When living on benefits like Social Security, you may be judgment proof. That means if you fail to pay your debts and your creditor sues you, wins, and gets a judgment to garnish income or wages, you might be protected from that. I would suggest you discuss that possibility with the good people at HELPS nonprofit law firm. They specialize in assisting seniors in this exact situation.

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The offer you received sounds a bit like a debt settlement approach. Or it may seem like a loan at first glance. Hard to say exactly without seeing it.

Before you can even evaluate what solution makes sense for you, you need information on what the reality of your current financial condition is, what it is looking like in the future, and what income you can direct towards debt repayment, if any.

The reality is you might not be able to afford to promise $X per month for the next X years. If you embark on an approach to repay your debt or loan over some years and you run into a tight financial situation, then the solution will fail, and you are no further ahead.

The goal is to help you find a logical, effective solution and will work for your unique circumstances.

The most logical solutions for dealing with unaffordable debt if you are a senior on limited benefit income is:

  1. The HELPS approach (might be tougher emotionally) or bankruptcy to terminate the unsustainable debt as quickly as possible.
  2. If extra money is available each month and you feel it will be into the future, then explore credit counseling.
  3. If you have extra money lying around that you think you will never need, then a debt settlement approach might be a consideration.

But ultimately, I think what you need is to talk to an experienced debt coach that can evaluate your current financial situation and give you advice on moving forward without trying to sell you some solution first.

Keep in mind the offer you received from whoever is an advertising piece trying to sell you a product.

In my opinion, Damon Day and Michael Bovee are two exceptional debt coaches to talk to.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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Damon Day - Pro Debt Coach

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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