|
Debt Management Program
Simply put, debt management is the process of hiring a third
party to help you manage all of your outstanding debt. A debt management
program allows you to roll all of your unsecured debts into one lump sum, thus
simplifying your payments into a single monthly bill.
Our professional debt advisors can help you accomplish this
via several different types of debt management programs.
If you find yourself buried in debt, are having trouble
making on-time payments and can’t seem to find a way out, you may want to look
into how debt management services can benefit you. At Professional Debt Advisors, we offer free, no-obligations
debt management consultations. Simply fill out the form on the right and one of
our advisors will contact you to review your specific situation. For
immediate assistance call 866-559-3328.
What are the
benefits?
One of the biggest benefits of entering into a debt
management program is that you will no longer have to go through the hassle of
dealing with multiple creditors. No more phone calls and no more having to worry
about mailing out a slew of different bill payments every month. Now you only
need to make a single, monthly payment to a debt management agency that will
then pay off your creditors on your behalf.
In addition to the reduced stress levels, and perhaps more
importantly, a capable debt manager will seek to lower the interest rates of
your outstanding credit debts by negotiating directly with your creditors and
lenders. The practice of renegotiating the terms of a debt when you can no
longer afford to make on-time payments is known as debt settlement.
Because
creditors get nothing if you declare bankruptcy, most of them would rather negotiate
with you to lower your interest rates and monthly payments so you can at least
pay off part of your outstanding debt. In
exchange for a one-time payment that is typically somewhere between 20% and 75%
of what you originally owed, creditors will agree to forgive your remaining
debt, reporting it as “settled” to the various credit bureaus.
But settling your debt is a lengthy and involved process,
requiring months of advanced planning. Most creditors will not start
negotiating for debt settlements unless you’ve fallen over three to six consecutive months
behind on your payments. This means you’ll have to spend quite a bit of time
dodging collection calls before you can get your creditors to discuss a
settlement option if you choose to try and go it alone.
This can be a hard process when you’re dealing with one
creditor, let alone five or 10. But the ordeal becomes a lot easier if you
enlist the services a debt management company. A professional debt manager knows
exactly how the settlement process works and how to talk to creditors so that
it gets done quickly and efficiently. A debt management company takes care of
all the negotiations and can consolidate all of your outstanding debts into a
single monthly payment.
Additionally, a reputable debt management or debt resolution service will work
with you to develop strategies to help you avoid
excessive credit debt in the future. From creating budgets to implanting
consumer credit strategies, a good debt manager seeks not only to help you pay
off your current debt, but to ensure that you are better prepared to handle
your personal finances in the future.
Debt Management Credit Counseling
At Professional Debt Advisors, we understand that a debt
management program is not for everyone. Our free consultations are designed to
determine what the best strategy is for your particular financial situation. If
debt management is not an affordable or wise choice for you, we will let you
know and try to direct you towards a better alternative.
Our debt management company is comprised of trained debt arbitrators who will
negotiate on your behalf with your creditors to reduce your balances signifigantly. If you are interested in finding out how Professional Debt
Advisors may assist you with your debt management needs simply fill out our
no-obligation consultation form to the right or, again, you can call us
toll-free at 866-559-8332. |
|
GET FREE FINANCIAL ADVICE NOW! |
|
| | |
|
Debt Settlement - Straight Talk