Are you drowning in debt? Are collection agencies making your life miserable? It's possible to become free of debt WITHOUT declaring bankruptcy! A debt management program, also known as debt consolidation, credit card consolidation, bill consolidation, or money management, can help you to eliminate your debt in just 3 to 5 years, rather than the "pay forever plan" of minimum creditor payments.
Debt management programs help you get out of debt by negotiating with your creditors and re-working the terms of your unsecured credit accounts (credit cards, department store cards, medical bills, etc.) to enable you to pay them off faster. In addition to waiving some late fees and over-limit fees, most interest rates can be lowered.
Instead of paying upwards of 25% on your credit cards, your interest may be reduced to a rate as low as 6%, with most cards averaging between 8-10%. If you were to make minimum payments over 20 or more years at your current rates, you would pay many thousands of dollars in interest; by lowering interest rates, a debt management plan saves you a sizable amount of money.
In addition to all of its other benefits, debt management does not have the negative effects of bankruptcy, which stays on your credit report for 10 years and makes it difficult to obtain credit. You will have the satisfaction of meeting your obligations to your creditors, and your credit score will improve as you pay down your debt.
Enrolling in a debt management program is a good way to take control of your financial future. You can pay off your debts while saving a large amount of money in interest, and your accounts will be paid off in 3 to 5 years. Become free of debt and live stress-free!