Debt Management Program And Debt Consolidation Flagstaff AZ

A financial expert explains how a debt management program works.

A New Beginning Credit Consulting
(480) 695-6435
P.O. Box 30522
Flagstaff, AZ
 
Take Charge America
(623) 266-6376
20620 N 19th Ave
Phoenix, AZ
 
West Valley Mediation Center
(623) 412-2508
6670 W Cactus Raod, Ste A-102
Glendale, AZ
 
Global Debt Solutions
(480) 429-3807
7201 E Camelback RD
Scottsdale, AZ
 
Private Debt Solutions LLC
(480) 443-0313
15115 N Airport Dr Suite 5B
Scottsdale, AZ
 
Law Offices of Kevin Jensen
(480) 632-7373
3303 E Baseline Rd
Gilbert, AZ
 
Private Debt Solutions
(480) 443-0313
15115 N Airport DR
Scottsdale, AZ
 
Christensen REX Atty
(480) 792-6651
3810 E Remington Dr
Gilbert, AZ
 
Mueller Karl A The Law Office
(480) 584-3066
4172 E Orchid Ln
Gilbert, AZ
 
Law Office Of Randall J Craig PLLC
(480) 767-0400
9449 N. 90th St. Suite 207
Scottsdale, AZ
 

Debt Management Program And Debt Consolidation

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Q: What is the difference between a debt management program and debt consolidation?

A: Debt management programs are used by individuals who have accumulated excessive amounts of consumer debt typically in the form of credit card debt. A debt management program combines credit counseling with other services such as negotiations with your creditors and the development of a repayment plan. A number of non-profit agencies and for-profit firms offer debt management services.  Many of these are highly reputable and offer a valuable service; others are less reputable and may charge you excessive fees or "voluntary" contributions. 

Before signing up with one of these firms, check the website for the National Foundation for Credit Counseling (www.nfcc.org) for further information on debt management programs. Also, check with the Better Business Bureau in your local community to see if any complaints have been lodged against the credit counseling firm that you are considering.

Debt consolidation may be part of a debt management program. Debt consolidation refers to consolidating the debt from multiple loans into one larger loan. Debtors do this to get a lower interest rate or for the convenience of making one monthly payment rather than a number of payments to different loan sources.  As in the case of debt management services, a number of firms offer debt consolidation loans.  Before taking this route, check the interest rate on the loan and associated fees.  Most important, do not use debt consolidation as an excuse to simply take on more debt. ...


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