What You Should Know About Debt Management Services
More people than ever before have credit card debt and they are looking for solutions
that will allow them to manage this debt in way that will allow them to be debt free in a minimal amount of time. There are organizations that can help you with your debt, but they are not all the same. It depends on how old your debt is which option will work best for you.
Debt management services are nonprofit and their primary focus is to help you get out of debt as quickly as possible. If you feel like you will never have your credit card debt paid off, but have been making minimum payments, you may want to consider a consumer credit counseling program. These programs can have you out of debt in about half the time making the same minimum payment you have already been making.
If your payments are current this will continue as long as you pay the credit counseling company on time. So, you do not have to be concerned with your credit being ruined. Your interest rates will be lowered on most unsecured debts to around 10% or lower. For this reason you should be able to pay your debt off in 3 to 5 years as opposed to the 9 plus years that it will take you making only minimum payments.
A debt management company consolidates all accounts enrolled without a loan. Only one payment is made each month and it is normally set up as an EFT making it very convenient. All you have to do is make the money available on the due date and the credit counseling company takes care of the rest. If you feel like you are drowning in debt, a debt management program can be a life saver. Get a quote today for a debt management plan!