In today’s failing economy, individuals are finding themselves with many bills that they are unable to pay. The amount of debt is far exceeding most individual’s paychecks leaving them with increased difficulty in meeting their financial obligations. Some individuals find themselves searching for free debt management help and others are facing bankruptcy or foreclosure.
When consumers find themselves in the dilemma of which bills to pay each month, and how to pay them, they begin to realize that they need financial guidance and credit card debt help. Searching for free debt management help is as easy as turning on the computer and utilizing Google or another search engine. Many sites offer debt consolidation plans as well as financial guidance. These sites are easy to locate by typing “free debt help” or “debt management program” into a search engine and scanning through the results. It’s best to look for a non-profit credit counseling agency because you’ll know for certain that they will always have your best interest in mind. The National Foundation for Credit Counseling (NFCC) is also an excellent place to start your search.
Some people will call debt management agencies that are advertising on the television. Call-in toll free numbers can give some individuals the help they need. Some consumers just need their debt to be restructured, managed, or consolidated so that they can meet their obligations. With restructuring or consolidation of bills, individuals can combine all of their bills into one lump sum or one monthly payment that they make to the debt management agency handling their account. This is then divided between the creditors for the amounts that were agreed upon by the creditor and the debtor. These monthly amounts come from the original approved proposals that were sent out to those creditors.
Credit counseling agencies help the consumer by contacting each bill collector and credit card issuer to request a reduction in interest rates and fees. This is done by sending each creditor a proposal and letting them know that the consumer is enrolling in a debt management program. Most credit card or collection agencies will work with the credit counseling agency to come to an agreement on how much is to be paid to them each month, how low they are willing to go with their interest rate, and if they’ll waive all fees. With this agreement (approved proposal) most individuals will come out with less money owed in the end, pay off the balance at a faster pace, and be able to handle the monthly payment arrangements. This can help most individuals get out of debt as quickly as possible and become self-sufficient with their finances in the future.
Online searches will drive consumers to the free debt management help that they need to regroup and rebuild their finances to a manageable amount. Calling and talking with the debt management program professionals or certified credit counselors will give the individual the security they need to make a good decision and choose the right credit counseling agency. Do not risk losing everything, going into bankruptcy, or face a home foreclosure because you are in debt. Call Advantage Credit Counseling Service, Inc. today to see how we can help you get on the right path to becoming debt free!