Debt Consolidation may be better then bankruptcy
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Common Questions

Q:

How does a debt management program typically work?

A:

Credit Advisors notifies your creditors of your entrance into our debt management program and requests your interest rate and monthly payments be reduced to an amount you can realistically pay. Credit Advisors often knows the key contacts at your creditors on a first name basis and will do all it can to work the best deal for you (considering your income, expenses, debts and who your creditors are). Let’s say you have an $8,000 debt with a major credit card at 22% interest. Generally, the credit card company will agree to lower your interest rate and monthly payments if you are on a debt management plan with Credit Advisors. We believe your payments should go toward reducing the principal or what you owe, not paying insurmountable interest fees. An added bonus of a debt management plan is that you will start making one payment to Credit Advisors, and stop writing separate checks to your different creditors. This way, you can focus on carrying out your debt management plan and reaching your goals, not worrying about this creditor or that one whether your check was received on time. You will still receive statements from your creditors so you can watch your debt shrink as it’s paid off.

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