Posted on
October 30, 2009
at
1:26 am
Would you give the pros and cons of using a debt management company?What's the difference between that and just doing it on my own?
Posted on
October 30, 2009
at
1:45 am
Would you give the pros and cons of using a debt management company?What's the difference between that and just doing it on my own?When you say debt management company, you meant Credit Counseling agency correct?
Posted on
October 30, 2009
at
2:21 am
Would you give the pros and cons of using a debt management company?I don't know if you would consider the cost of a supposedly non-profit company a cons. Credit counseling is non-profit but their Debt Management Plan would cost around $25/mo. after the one time set up fee.
Posted on
October 30, 2009
at
2:29 am
Would you give the pros and cons of using a debt management company?Another cons- maybe is the length of the program. It lasts from 3-5 years and the drop out rate is quite high.
If you don't have a steady job or source of income in that span of time you might end up with more debts than when you started.
Posted on
October 30, 2009
at
2:30 am
Would you give the pros and cons of using a debt management company? CONSMany creditors refuse to work with debt management companies. What does it mean? It means that you may already be paying the agency but are not getting your issues resolved at all.
Posted on
October 30, 2009
at
2:33 am
Would you give the pros and cons of using a debt management company? ADVANTAGEIf you think that you can sustain payment for 3-5 years and it so happens that your creditors do work with debt management agencies -- then your chances of getting at your principle much quicker are good, as the main goal of the program is to negotiate your interest rates.
Posted on
October 30, 2009
at
2:35 am
Would you give the pros and cons of using a debt management company?What's the difference between that and just doing it on my own?Actually there doesn't seem to be much difference from you negotiating your interest rates on your own versus usinga debt management company...except that you won't be paying them $25/mo.If you really want to do it d-i-y, at least go to the free credit counseling session. Learn the how to's of talking to the creditor. If you are experiencing hardship, ask for their hardship program.
Posted on
October 30, 2009
at
3:17 am
What to watch out for when using a debt management company?
Posted on
October 30, 2009
at
4:34 am
What to watch out for when using a debt management company?The scam companies. And so a related question to this is: How to find a legitimate credit counseling agency (?)
Posted on
October 30, 2009
at
4:35 am
Acccording to the BBB:Before you select a credit counseling agency ask for information on the following:Are the agency services confidential?Will they devise a plan tailored to fit your needs?Are the counselors certified?Are budget and credit education opportunities offered?Will your funds be protected? How?Is the agency accredited?
