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When it comes to Debt Consolidation or Debt Relief there are typically three effective relief options:

  1. Debt Settlement

  2. Debt Management

  3. Refinance/2nd Mortgage

Debt Management Plan

 

Objective: To help the client get out of debt (usually in a period of 36-60 months) by taking advantage of creditor benefits through monthly payments to creditors eventually leading to payment in full.

 

Pros:

Cons:

Usually a much lower interest rate, on a creditor by creditor basis, is made available to the client.

The payment amount and time frame is longer than settlement in most all cases.

In many cases, if you are behind, your account may by re aged back to a current status without having to make up any back payments or late fees, after three or more consecutive on time payments.

This increased financial pressure may not be feasible if the client does not have the ability to use their cards.

Simplifies things by giving one simple payment each month, and a timeline to have your bills paid off.

Not all creditors may participate in the debt management program.

Also, the program does not have a negative impact on your FICO score.The monthly set-aside amount may be much more affordable.

Debt Management may be right for you if…

  • You are current, can make minimum payments on your cards and pay regular monthly bills without using the cards, but can not get the principal balances down because of high interest rates.

  • You had an emergency that caused you to fall behind, but can now afford regular monthly payments and just need help getting back to a current status.
Debt Management - A Simple 2 Step Process:
Fill out the following form as completely as possible. (* indicates required field.)
Step 1: Enter your Contact Information
*First Name:
*Last Name:
*Phone:
*Email:
Address:
*City:
*Zip:
Best Time To Contact:
Step 2: Enter your Debt Information:
Credit Rating:
*Unsecured Debt Amount:
Secured Debt Amount:
*Employed: Yes    No
*Have you filed for Bankruptcy in the last 7 years? Yes    No
*Are you current or behind in your debt payments?

 

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