If you're thinking about debt management..READ THIS

What Will a Good Debt Consolidation Program Do for You?

Hello Everyone,

Here's a excellent article worth mentioning. If you are considering a debt management company there are some points to consider. Just be sure you ask many questions about your credit situation. Go online to and find sites that offer free articles and tips. Also try and have an alternate plan that you can do yourself instead of an outside program. With this plan you can compare it with the professional service. Good luck!

Curt de la Cruz
http://www.101-credit-debt-finance.com

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What Will a Good Debt Consolidation Program Do for You?

First off, a debt consolidation program is not a loan, it doesn't provide a free ride, and it won't get rid of your debts. These programs are set up primarily to help you get your interest rates reduced, eliminate late-payment fees and other charges, and lower your monthly payments - on your unsecured debt - to a level that both you and your creditors can live with. Note that these programs only deal with unsecured (credit card, personal loans, and medical bills) debt.
Organizations like the various Consumer Credit Counseling Services and Myvesta.org can help you set up a debt re-payment that pays off your debts in three to five years or so. But understand that participating in a debt consolidation program will in all likelihood affect your credit report because some creditors see your participation in such a plan as an admission that you're unable to properly manage your finances.

All reputable credit counseling organizations will provide the following services when setting up your debt consolidation program:

* After providing them with your relevant financial details, including both secured and unsecured debts, the account number of your unsecured creditors, etc. your income, your marital and familial status, a counselor will help you work out a budget to determine how much you can apply toward debt repayment.

* The agency will work directly with your creditors to develop a specific repayment plan that you can all live with

* You make a monthly payment directly to the agency, which, in turn, will pay your creditors on your behalf.

* Normally the credit card and other accounts that are being paid off through the debt consolidation plan are either closed or frozen until the debts are paid in full.


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Thanks for viewing,
Curt
http://www.101-credit-debt-finance.com/debt-solutions.html