Posted on November 10, 2009 at 4:30 am What are the cons of debt management?-many creditors do not like to work with credit counseling agencies (that run the Debt Management Plan)-since it takes 3-5 years to finish, the drop out rate is high

Posted on November 10, 2009 at 4:33 am cons of debt management - related to what you have said about many creditors not working with credit counseling agencies - is the monthly payment of the consumers not going to the creditors at all. what happens is (sometimes) the consumers pay the agency for nothing. and it's a funny thing by the way, to say "cons" of debt management.

Posted on November 10, 2009 at 4:36 am cons of debt management -The agency has the right to kick the consumer out of the program for one missed payment and I am not sure if it resets the consumer's debt amount to its original amount after...

Posted on November 10, 2009 at 4:38 am You have the cons of debt management covered - how about the pros of debt management this time?-the interest rates get to be reduced in a debt management plan, in fact, that is its main goal- so the consumer can get at the principle amount quicker.

Posted on November 10, 2009 at 10:54 am These cons are only found with companies that have a poor BBB rating and no online reviews. Most of these also fall into the category of 'settlement' programs, not consolidation - but both are titled under 'debt management'. -If their fees come close to the creditor payment amount / Bad-If they are 'reducing your debt' versus consolidating the debt / Bad-If they have a positive BBB Rating / Good-If they are a validated NON-PROFIT service / GoodAlways check out the company with the BBB before signing or sending any payment information. A good, honest non-profit debt consolidation program will provide a free budget counseling session along with a free consultation with one simple phone call.Good luck to you and yours, Michael Brazier