Debt Related Articles

A debt management service acts as a liaison between you and your creditors. They negotiate a single for you, collect a single monthly payment, and distribute it to your creditors. The service charges a commission, usually a percentage of your monthly payment, and may also get rebates from your creditors. How Debt Management Affects Your [...]

Debt management and debt consolidation are both tools that can help make your debt more affordable. In fact, debt consolidation can be part of a debt management strategy. Here’s how. Debt Management Techniques Debt management usually involves making a monthly payment to a debt management or credit counseling company, which then divides the payment between [...]

The best debt solution for your circumstances depends on a number of things like your income and expenses, your outstanding balances, your employment, and residential status.A debt management plan is an informal debt solution that may also involve budgeting and debt consolidation. The best debt management involves counseling and learning budgeting skills, so that you [...]

Debt management is a lifelong commitment. Debt management, done correctly, is more than paying off credit cards and consumer loans. It’s learning how to avoid getting in over your head again. A good debt management service includes education and counseling, not just the promise of a quick settlement. Debt management services act as go-betweens for [...]

If your monthly payments and expenses exceed your income, and you have cut back as much as you can (you’re eating a lot of peanut butter and ramen noodles), you’re ready for a serious debt reduction strategy. This may involve debt consolidation, debt settlement, debt management, or even bankruptcy. Here are the pros and cons [...]

Debt management plans (DMPs) are often offered by credit counseling services. With a DMP, you make one payment each month to your credit counseling service. The service then pays your credit card bills, student loans, medical expenses, or other unsecured debts according to a payment schedule they negotiate with your creditors. Counselors may also get [...]

Don’t Write a Single Check… …until you make sure that your debt management service or credit counselor is legitimate and has in fact made agreements with your creditors. The Federal Trade Commission (FTC) has found some organizations (under rocks and covered with slime) that offer debt management programs (DMPs) and have ripped off their clients. [...]