Debt Management FAQs



What is Debt Management?

Debt Management program is a procedure that allows a professional firm to attain an agreement with your creditors to achieve the lowest and most inexpensive monthly payment.



Can my credit rating be repaired by enrolling in the Debt Management program?

Your previous credit history will still be there. Debt management program will help restructure you will restrict your debt. Your credit rating may actually improve because you will establish a positive payment history.



How is debt management program different from bankruptcy?

You do not have to pay your debt owed when you declare bankruptcy, declaring bankruptcy will ruin you credit score. Debt management programs help you pay debt owed and debtors are satisfied.



In a statistical study, consumer debt in the United States is estimated to be over 2 Trillion dollars.

Credit card debt from consumers actually takes up over 700 billion dollars of the consumer debt in the United States.

 

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