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Debt
Management Plan
By taking the
steps to manage your debt, you will learn that you can:
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Reduce or eliminate your interest rates
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Reduce your monthly payments
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Consolidate your unsecured debt into one simple monthly payment
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Reduce the overall number of years to takes to pay off your debt
Pros
& cons
of debt Management
Pros:
-
Usually a much
lower interest rate, on a creditor by creditor basis, is made
available to the client.
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In many cases, if
you are behind, your account may by re aged back to a current status
without having to make up any back payments or late fees, after three
or more consecutive on time payments.
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Simplifies things
by giving one simple payment each month, and a timeline to have your
bills paid off.
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Also, the program
does not have a negative impact on your FICO score. The monthly
set-aside amount may be much more affordable.
Cons:
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The payment amount
and time frame is longer than settlement in most all cases.
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This increased
financial pressure may not be feasible if the client does not have the
ability to use their cards.
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Not all creditors
may participate in the debt management program.
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Education
Center
Helpful Financial Forms - Download financial forms.
Credit
Cards - Learn about important terms before applying for a
credit card.
Consumer Rights - Learn about your rights under the Fair
Credit Reporting Act.
Debt Warning Signs - Learn about the warning signs of debt.
Credit
Scores - Learn about credit scores and why they are so
important.
Telemarketing Scams - Top 10 telemarketing scams.
Money Saving Tips - Tips to help you save money.
Consumer Debt Statistics - Detailed consumer debt statistics
in the U.S.
Debt Management Plan - How debt management helps you.
Credit
Repair - How credit repair helps you.
Foreclosure Prevention - How and why to prevent foreclosure.
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