Debt Management Programs
The goal of our debt management counseling sessions is to help you find the best solutions to your financial problems, often looking at debt repayment options. In many cases, our professional advice may be all that you need in order to get a handle on your situation, and take control of your debt or spending habits. For some who may be considering bankruptcy, our impartial advice may help them re-affirm that decision. And finally, our debt consolidation and repayment programs are a great way for many to pay off their debt, according to their means, in a reasonable time frame.
How the Debt Consolidation Program and Management Plans Work
If your situation is such that there is not enough money available to make full monthly payments to your creditors, but enough for reasonable payments, we will contact each creditor on your behalf and make arrangements for them to accept reduced monthly payments. Your creditors are asked to stop all collection activity with you and to deal directly with us. In some cases, creditors will stop or reduce finance charges to Consumer Credit clients.
Each month, you pay a specified amount, which is deposited into a trust account and distributed monthly to each of your creditors until all of your debts have been paid. Since most credit-makers appreciate the function we perform and realize the importance of allowing their customers to pay their obligations in a consistent, honorable and possible manner, they are usually quite willing to participate in these debt management programs.
We are not a lender. As professional counselors, we know you cannot borrow your way out of debt, only pay your way out. This plan, when followed, does this in an honorable fashion.
Debt Management Benefits May Include:
- Reductions in minimum payments.
- Reduced or eliminated interest rates.
- Elimination of late or over-limit fees.
- Re-aging of accounts (a creditor considering your account current).
- Elimination of collection calls.
Call now for your FREE no obligation consultation 952-544-6800