Advantages and Benefits of a Debt Management Program

Reduced interest rate

Reduced repayment period

One monthly payment

Lower monthly payment

No harassing calls from creditors

Waived or reduced late fees, over the limit fees, and penalties

Ongoing guidance and counseling in money management

Avoids bankruptcy

Debt elimination and financial freedom

Cannot use any of the credit cards that you include in the program

Must meet minimum unsecured debt amount which can be as low as $2,500

Usually charged your first payment to the agency

A monthly administration fee ranging from $10-$50

May have a negative effect on credit rating

Works for unsecured debt only