What is Debt Management Service?
Are you looking for ways to get out of credit debt and back in control of your finances? Have you made numerous attempts to pay these debts off on your own, but seem to be getting nowhere? We can help you get back in control of your financial health.
Our experienced counselors can assist you in creating a money-spending plan to help you handle the money you have. When the repayment of bills has become too difficult, our counselors may devise a systematic debt management program in cooperation with your creditors.
Get a fresh start with your creditors. Most participating creditors agree to stop collection calls and waive late and over-limit fees. Many even agree to reduce your interest rates.
The Debt Management Program has many benefits.
- Waive or reduce high interest rates
- Eliminate late and over-limit fees
- Stop harassing calls from creditors and collection agencies
- Accept a reduced monthly payment
- Voluntary arrangement between you, your creditors and our agency
- The Debt Management Program makes it possible to:
- Get a fresh start with your creditors
- Save thousands in credit card interest
- Avoid Bankruptcy
- Improve your credit score
How does a debt management program work?
A certified credit counselor will first complete a credit counseling session with you to determine your monthly income, expenses and creditor payments. After analyzing your financial "picture," your counselor will make practical suggestions to help you improve your money management habits and get back in control of your finances. If appropriate, the counselor may also suggest referrals to other community organizations, which you may follow up on if you wish.
Our debt management program works with unsecured debts such as
Visa
MasterCard
American Express
Discover
Retail store cards
Medical bills
Collection accounts
Finance company loans
etc...
While on the debt management program, you send one monthly payment to the agency instead of paying each creditor that participates separately. We then send these funds to your credits in the agreed-upon amounts.
There are many benefits to using a debt management program
You will get out from under your unsecured debts in three to five years instead of ten, or even twenty, years. While you are on the debt management program, your unsecured creditors may agree to stop charging late and over-limit fees, saving you money.
Many creditors agree to reduce your interest rates. Because of these concessions, you will get out of debt many years sooner than if you continue to make only minimum payments to your creditors. You will regain your financial security. Plus, you will never have to be afraid to answer your telephone again.
There are also a number of less obvious benefits to a debt management program, such as learning to use and maintain a healthy budget, living without being dependent on credit, not having to worry about your creditors and learning the importance of paying more than the minimum payment.
Our debt management program is a safe alternative to these other methods of debt reduction or elimination
Chapter 7 bankruptcy
Chapter 13 bankruptcy
Debt settlement
Consolidation loan
Home equity loan/ refinancing mortgage
If you feel like you are getting nowhere paying your debts, then a debt management program may be the right solution for you.