Debt Management

Debt Management is a debt relief option that helps individuals get out of debt much faster than they could on their own -- by combining all unsecured credit cards and other debts into one lower, easier, payment.

Debt management programs can be very beneficial as a debt relief option for individuals who are just barely able to pay monthly minimums each month -- and getting nowhere in terms of paying off their debt. Under debt management, interest rates will be dramatically reduced -- so the payments that are made go to pay off the principle amount owed, rather than to simply service the debt by going almost completely to pay down interest

Remove Financial Stress

Debt management programs could help stop harassing phone calls from creditors, remove financial stress, and help people become debt free, typically much faster than you could on your own if you were to pay back your debts at the old, higher interest rate. With debt management plans, it is important to understand that debtors are still paying back the full amount owed. However, the time to debt freedom is greatly reduced because creditors are agreeing to reduce interest rates.

Debt settlement or debt negotiation is another popular form of debt relief that differs significantly from debt management. Whereas debt management involves paying back all your debt at lower interest, debt settlement allows credit card debts to be forgiven or settled for much less than the actual amount owed. Depending on your situation, debt settlement could help you save from 40%-60% of your original credit card debt owed. If you are in debt and finding it very hard to pay credit card minimums and the amount of credit card debt is very high, debt settlement may the right debt relief option for you, although it is important to note that credit card debt settlement can have more of a negative impact on your personal credit than a debt management plan.

To get a free debt relief analysis and savings estimate at no obligation, take a moment to fill out the brief form to the right: