STATEN ISLAND, N.Y. -- It all started when family members of Adem Selita, 31, and Dino Selita, 42, were struggling to pay off their credit card debt.
After helping some family members and friends, the Selita brothers, who reside in Dongan Hills, seemed to develop a knack for solving people’s debt problems -- so much so they made it their career. But after working for well-known debt relief companies in Manhattan, the Selitas saw an opportunity to branch out on their own.
After running a successful Manhattan-based business since 2018, the Selitas wanted a presence in the borough. In March 2021 they opened The Debt Relief Company on Castleton Avenue in Randall Manor.
“We launched the business because we are well-versed in helping get consumers out of debt,” said Dino, who noted their mom, Semi Selita, helps out at the new office a few days per week. “We also started the business with the goal of increasing overall financial literacy for Americans and promoting financial education. Personal finance is rarely taught in schools, and this is why many people end up in financial trouble.”
Added Adem: “Not enough businesses operate with this goal in mind and it’s something the American people definitely need. Our secondary mission is to increase financial literacy and awareness for the general public in the United States. We’ve done this by creating www.TheCreditCardMonster.com along with other storytelling techniques that help make this topic more fun and manageable for your everyday individual.”
SERVICES OFFERED
The Selitas help clients pay off debt in a one to four year timeframe, said Dino.
“Most clients save a substantial amount of money each month and depending on how aggressively they want to pay down debt, they end up paying their unsecured debt down two to 10 times faster,” said Dino.
He explained that sometimes people create more debt by taking out unsecured loans because they are trying to consolidate their credit card debt. “Sometimes loans are not the best move for them because they end up paying the same, or sometimes even more than what they were originally paying on the credit cards,” he added.
Said Adem: “It’s like you’re robbing Peter to pay Paul. In most cases, you shouldn’t borrow more money to pay debt.”
While they mostly work with people who are burdened with debt, the Selitas also work with business owners as well.
“We are strategic and focused individuals, but also easy-going and relaxed, said Adem. “A lot of people come to us when they are stressed out. Just to set their minds at ease, the first thing we explain is that ‘this isn’t the end of the world.’ We explain to clients that we’ve undergone this process many times and although their situation might not be ideal, it is fixable.”
NEGOTIATION TACTICS
The brothers will often negotiate with creditors to reduce the amount of debt owed.
“We candidly explain the situation of the client, such as if a client has medical debt, loss of employment or some form of income, divorce ... It could be a million different things,” said Dino.
Added Adem: “Nobody wants to get behind on their payments, but if somebody dies in the family, their car breaks down, they lose their job, then we use our relationship with the creditors to say, ‘the client has been paying you for this many years and they’re just really struggling. What can we do here?’”
And the best part is the brothers work for free for clients, “until we successfully save them money,” said Dino.
THE DEBT RELIEF COMPANY AT A GLANCE
Address: 480 Castleton Ave.
Website: https://www.thedebtreliefcompany.com/press
Youtube: https://www.youtube.com/channel/UCPFWaIMPqgxs-W36rBOddXg
Facebook: https://www.facebook.com/Thedebtreliefcompany/
Instagram: https://www.instagram.com/debtreliefcompany/
New Businesses in Focus is a weekly column that relates the stories of new Staten Island business owners.
If you have a new business on Staten Island, e-mail porpora@siadvance.com.
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