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i am in debt settlement how do i change to management? – can not afford debt settlement

Your ability to change depends on your contract with your debt settlement company. What are the terms for you to get out of the contract? But before you do that, have you spoken with your debt settlement company and explained your most recent financial situation?

Typically when you sign up for a settlement program, the company will do a full financial evaluation and then try and reach a fixed monthly payment that you can afford. If something has changed and you cannot afford it anymore, you need to talk to them to see how you can alter it. A good company will work with you as best as they can given your situation.

Furthermore, I am not sure a debt management program is your solution. Typically debt management is a higher monthly payment than with a debt settlement program. In debt settlement, they are actually negotiating down the total amount you owe, whereas in debt management you owe the entire amount, however, the company will help to reduce late penalties, interest rates, and other fees to help you.

If you cannot work out a new payment with your settlement company then you need to talk to a bankruptcy lawyer who can tell you all your options given your situation. Typically they will offer a free consultation and it does not mean they only can help you with bankruptcy as they may have other solutions for you. I hope that helps.