Debt Consolidation may be better then bankruptcy
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Common Questions

Q:

What kind of savings can I expect through credit counseling/debt management?

A:

A skilled certified credit counselor will assist you in obtaining and keeping every concession offered by your creditors. Whenever possible in a DMP, Credit Advisors Foundation works to keep the interest rates charged by your creditors as low as allowed. The beauty of interest reduction is that instead of simply paying the interest and barely scratching the surface of your debt, you can start paying down the principal immediately. In the same way that debt seems to snowball out of control, a successful DMP can yield surprisingly quick results, especially when considering how long it can take to repay a debt outside a DMP. Below is an example of what you might save in interest charges if you participated in a DMP and owed a credit card company $3,500:

Total Payment Not Using Service--$7,069.98

Total Payment Using Service--$3,184.98

Amount Saved--$3,885.00

*While results vary depending on your debt, in most cases savings are significant.

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