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How does the debt management program work?

 

If you are living paycheck to paycheck, being harassed by phone calls from collectors, you have late fees piling up, and interest rates are going through the roof, then Credit Counseling can assist you to work out a Debt Repayment Plan with your creditors. Our business is to work with you to solve your financial problems. We work to create a spending plan, we negotiate directly with your creditors to lower interest rates, waive late fee, provide you with more affordable payments and pay off your debts 75% faster. We can often provide you with a more affordable payment and pay off your creditors usually in less than 5 years. One important fact to know is that we are not a “Finance or Loan Company”. We work to consolidate all your bills into one affordable monthly payment.

Many times people ask how does the debt consolidation program work? It’s simple, credit cards are under a revolving credit payment plan. They are designed to keep you in debt, resulting in your paying an extraordinary amount of interest while trying to pay them off. Under these circumstances, you will end up paying off your cards in anywhere from 20 to 30 or more years. By changing from a revolving to a fixed payment plan, along with a lower interest rate, most of the money is applied to your balances instead of to the finance charges each month, substantially reducing your total payout term.

The debt management plan works with any unsecured debt. They include credit cards, gasoline cards, department store cards, certain lines of credit and personal loans. This includes medical bills or collections accounts.

 

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