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We are in debt but are not in arrears. We have worked very hard to keep our debt current. It seems to be taking forever. Is there help for people who are doing all the right things?

Non profit credit counseling agencies often offer advice on your options one of which is a service they offer called a debt management program. These debt counseling programs help you budget, consolidate your bills, and lower your interest rates all while maintaining your on time payments to creditors. You pay them a lump payment every month and then they pay off your creditors each month individually.

No solution is perfect but using a reputable debt management company will help you minimize the damage to your credit score especially compared to a debt settlement program where only a portion of your debt is repaid.

As a non-profit, these companies do not pay Federal taxes but in return they are required to offer a public service which is the free counseling, finacial education, and budgeting advice they provide. Please realize that they do need to pay thier employees 🙂 and they do so by charging fees to those who they end up enrolling in their debt management programs.