Debt Relief

If you are having trouble paying down your unsecured debts a Debt Management Plan (DMP) may be a viable solution. Contact a Credit Counseling Agency (CCA) to discuss whether a DMP is right for you. On a DMP, you will deposit money with the CCA each month to be used to pay back your unsecured debts according to arrangements made with your creditors. With a DMP, interest rates are reduced to allow you to repay your debts within a reasonable time frame.

Debt can quickly spiral out of control if you do not get the proper help. Some of the warning signs include only making the minimum payments (or less) on your credit cards, taking cash advances from your credit cards to pay bills, falling behind on payments, and no longer using credit cards for convenience, but to cover every day living expenses. If you are unsure whether you need help, contact a Financial Fitness Coach at CareOne (careonecredit.com or 1-888-888-CARE) to help evaluate your situation.

Unfortunately, because consumer debt has become such a problem over the last decade, a lot of disreputable companies have sprung up in the credit counseling industry. If you aren't comfortable with a Credit Counseling Agency's credentials or the counselor you are working with, check them out with your state Attorney General, local consumer protection agency, and Better Business Bureau to determine if other consumers have filed complaints about them.

When evaluating a Credit Counseling Agency (CCA) look for one that is a member of the Better Business Bureau (BBB) and that offers a range of services, including budget counseling, and savings and debt management education. Avoid organizations that push a debt management plan (DMP) as your only option before they have analyzed your financial situation. To get a complete evaluation of your financial situation, contact a Financial Fitness Coach at CareOne (careonecredit.com or 1- 888 - 888-CARE).

If you are struggling to make your monthly payments, it's important to know your options. Different financial circumstances require different debt relief solutions, depending on the severity of your financial situation and can range from simply curtailing your spending to the more drastic step of filing for bankruptcy. There are also choices that fall in between, such as a Debt Management Plan or a Debt Settlement Plan. Contact a Financial Fitness Coach at CareOne for a free consultation at 1- 888-888-CARE, or at careonecredit.com.