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Best Credit Debt Management Plan

If you find yourself in a debt situation that’s starting to become unmanageable due to high interest rates, a professional debt management plan might be the answer you’ve been looking for. The important thing to understand is that no matter what debt management program you choose they will provide you with credit card debt consolidation that will lump all your bills into one monthly payment with a reduced interest rate and lower fees. A good debt management company will help you build a budget so you not only to get rid of your debt but also a solid plan to ensure that you don’t find yourself in the same situation again.

Most debt management programs involve consolidating your outstanding debts, so one of their most immediate benefits is that you will no longer have to deal with your credit card creditors directly. No more annoying phone calls and piles of bills in the mail. Now you only need to worry about a single, low monthly payment, which in turns gives you the time and energy to focus on getting back on your feet and on your way to financial stability.

The first step is to get informed. Here at you’ll find a wealth of free credit card debt management information and free reports on trustworthy debt management companies. Professional debt management services can make the whole process of getting rid of debt much more efficient and much more hassle-free. A reputable financial advisor will work closely with you to develop a solid budget and debt payment strategy catered around your financial needs.

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I will send you my FREE Report about one of the debt companies I’ve researched. To prevent information overload, only 1 of the professional companies I know will provide you with your free consultation so you can decide if it’s a good one for you.

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Alternative Debt Management Articles

What Are the Benefits of a Financial Debt Management Program Over Settlement?

: November 13, 2008 11:09 am : Debt Management Plan

I’ve often stated that debt settlement is meant as a bankruptcy alternative and many people are not in a situation that warrants the drawbacks it can involve. A financial debt management program is a solution that people should consider if they need modest, not severe, help.

It’s all about how unaffordable your current monthly unsecured debt payments are in relation to your income. As I explain in this video, if your monthly credit card bills are a lot more than you can reasonably afford you are likely beyond the ability to benefit from the help of financial debt management.


Because you are probably paying the minimum payments each month and you are not able to pay off any of the principle balance. This is a recipie for disaster and your debt will continue to balloon due to the high interest rates. It’s like being on a treadmill you can never get off of…you go nowhere and make no progress. So you will need a big payment reduction to get ahead and that comes from debt settlement.

But what if you are still on top of paying down your balance each month but it is getting harder and you want to be proactive to avoid escalating financial hardship?

Then look into a financial debt management program. Here are it’s benefits over debt settlement:

1. Your credit score does not suffer nearly as much because you will eventually pay off everything you owe just with reduced interest rates

2. Debt management companies do not have an adversarial relationship with credit card companies so the process can go more smoothly

3. Many services that provide debt management plans are non profit debt relief agencies so they are required to provide financial counseling, education, and budgeting assistance in addition to managing your consolidated monthly payments

4. Their fees are typically lower

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Is a Credit Card Debt Management Solution Right for Me?

: September 21, 2007 8:27 am : Debt Management Plan

People visit this site to learn more about their debt relief options and they want guidance on which solution is best for them. Unfortunately, there is no “one size fits all” answer to that question but generally here is when you should consider credit card debt management as a solution for you.

1. You have more credit card debt than you are comfortable with
2. You find that you are only making minimum payments and your balance is increasing every month
3. You feel that the problem can still be brought under control if you could just get some help to reduce the rate at which your debt is piling up
4. Some counseling, budgeting help, and a modest decrease in your monthly payment will help you tremendously

In other words, you have a problem but it’s still manageable. A little financial education and discipline mixed in with a consolidated debt payment and lower interest rates could help you get your situation under control. True? Then consider a credit card debt management solution.

For many people, the greatest benefit in signing up for a debt management company plan is that you have someone to help you discipline your spending habits. Your counselor is there to help you and “coach” you as you need it, when you need it. For many people, this is invaluable and is all they need to stop their debt from accumulating beyond what they can ever pay off.

If it’s too late and you need more than just a little help on your monthly credit card payments then your problem may exceed the help that a credit card debt management solution can provide and you may need to start considering a debt settlement solution.

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Does Debt Management Hurt My Credit Score?

: September 21, 2007 7:59 am : Debt Management Plan

The questions about credit scores is the most common one I get on this site. Debt management plan will not hurt your credit score as negatively as a debt settlement plan. Typically, when you enter a debt management plan it will be noted on your score that you are getting assistance in managing your credit card bills but so long as you stick with the program and pay your new consolidated payment on time every month, the mark on your credit report is not something to be too concerned about.

Put another way, in most cases, you are much better off getting assistance through a credit counseling agency (the firms that typically offer debt management programs) than you are in letting your problem get worse. Don’t let the mark on your credit score be a deterrent because if your financial situation gets much worse then you will likely need to seek more drastic solutions like debt settlement or bankruptcy both of which do much more damage to your credit score.

Getting help early is the most important advice I can give to anyone. Don’t let your debt spiral beyond your control. It’s a problem that only gets bigger if left alone.

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What Is the Difference Between Credit Counseling & Debt Management Services?

: January 19, 2007 10:30 am : Debt Management Plan

Debt management services and credit counseling are basically two terms to describe the same service and that service is helping a consumer consolidate their unsecured (mostly credit card) debt into one payment typically with reduced interest rates and fees. Technically, an industry insider will say that credit counseling companies provide a broader range of services that just debt management, however, at their core, their primary service is offering debt management programs. Most TV and radio ads talk about credit counseling, I prefer to use the term debt management because I think it defines the service they provide more accurately.

You often hear the phrase non profit credit counseling. However, be aware that not all debt management companies are non-profit. Some remain for profit companies which is not a bad thing but it is something to be aware of since for-profit companies are not as closely regulated by the government as the non-profits. Some for profit debt management companies found themselves in a heap of trouble years ago when the government fined or closed down many companies with unacceptable (often fraudulent) business practices.

This resulted in many changes in the credit counseling/debt management business causing some companies to become non-profit (and highly regulated) and others to go out of business

My recommended debt manangement companies are non-profit organizations who provide valuable services with affordable fees.

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What is Debt Management Credit Consolidation?

: January 11, 2007 9:21 am : Debt Management Plan

Debt management is the process of consolidating your unsecured debts like credit cards into one monthly payment allowing you to reduce fees and interest rates. The debt management credit consolidation process is typically handled by a debt management company (also often called debt consolidation or credit counseling company) who has established relationships with all the most common large credit card companies. They are able to combine your debt payment with that of its other clients for a better interest rate than you will likely have.

A Mutually Beneficial Relationship
The debt management process is looked upon favorably by the credit card companies who understand that people with too much debt need advice and assistance to repay their bills. The debt management companies provide that assistance to help people get back on their feet. Without the debt management companies, the credit card companies would likely lose a lot of money due to the fact that many people in trouble would opt for debt settlement or even bankruptcy.

Budgeting Assistance Too
The debt management credit consolidation process entails a healthy dose of financial education for those who wish to take advantage of it as most of these services are offered by non profit debt agencies. Non profit means that the government allows them to not pay Federal income tax in exchange for offering a service that benefits society. So in a way part of thier mandate is to offer good financial educational materials and information to help you get out of debt.

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