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Debt Management Plan

By taking the steps to manage your debt, you will learn that you can:

  • Reduce or eliminate your interest rates

  • Reduce your monthly payments

  • Consolidate your unsecured debt into one simple monthly payment

  • 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.

  • 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.

  • Simplifies things by giving one simple payment each month, and a timeline to have your bills paid off.

  • Also, the program does not have a negative impact on your FICO score. The monthly set-aside amount may be much more affordable.

Cons:

  • The payment amount and time frame is longer than settlement in most all cases.

  • This increased financial pressure may not be feasible if the client does not have the ability to use their cards.

  • Not all creditors may participate in the debt management program.

 

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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