Debt Management may be right for you if you are current, can
make minimum payments on your cards and can barely afford
regular monthly bills without using the cards, but can not get
the principal balances down because of high interest rates.
Also, this program may suit you if you had an emergency that
caused you to fall behind, but can now afford regular monthly
payments and just need help getting back to a current status.
Below are some pros and cons of a Debt Management program:
The Pros of Debt Management:
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.
things by giving one simple payment each month, and a timeline
to have your bills paid off.
program does not have a negative impact on your FICO score. The
monthly set-aside amount may be much more affordable.
The Cons of Debt Management:
amount and time frame is longer than settlement in most all
financial pressure may not be feasible if the client does not
have the ability to use their cards.
creditors may participate in the debt management program.
What kind of loan are you looking for?
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obligation for submitting your information.
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