Having been in a free debt management program since October 2008, I must say that enrolling myself in the debt management plan is the best decision I’ve ever made to get myself out of credit card debt.
I am still paying my credit card debt, but without much stress. Unlike before signing up with the free debt management program, I was so stressed out by high interest charges, late payment fees and over the limit charges imposed by banks and creditors.
Being in a debt management plan means that I get to have a fresh start with my creditors; save thousands in credit card interest charges, late payment fess and over limit charges; improve my credit score; and most important of all, avoid bankruptcy.
How do you know whether you should go for a DMP? You should go for DMP if you are in any of the situations as given below.
* You have unmanageable bills that you no longer can make another month’s minimum payments.
* You’ve tried out DIY debt reduction plan but it has not helped you to pay down your debt.
* You want to stop getting harassing phone calls and warning letters from banks, creditors or collection agencies.
* You want to lower the interest rate on your bills, eliminate late payment fees and waive over-limit charges.
* You want to get out of debt through an affordable plan.
What is a debt management program? A debt management program, also known as debt management plan, is a debt relief program designed specifically for you who can no longer afford your minimum monthly payments.
It works to reduce the total amount of the debt and restructure it into a single affordable monthly payment.
You make One lower monthly payment to One credit counseling agency on One due date instead of multiple payments to various creditors on different dates.
A debt management plan enables you to get out of debt from under your unsecured debt in three to five years instead of ten, or even twenty years if you make only minimum payments to your credit cards.
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