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The Benefits of A Non-Profit Debt Management Program
A Debt Management Plan is defined as “The management of the debt of a company or government to keep down the expected cost and ensure that funds are always available when needed.”
The United States Federal Trade Commission defines a Debt Management Plan (DMP) as a “solution stemming from the financial problems of too much debt.”
Here at CreditGuard, we define a Debt Management Plan as a way to help you get out (and stay out) of debt.
The 4 Benefits of a Good Debt Management Program
Wondering how debt management can help you? Here are the 4 key benefits included in a typical debt management program from CreditGuard:
1. Easy Monthly Payments:
The reason nonprofit debt management plans are so effective is because our counselors help you bundle your various unsecured debts into one monthly bill. After one of our credit counselors has set out a detailed payment plan, we will simplify your unsecured debts by rolling them all up into a single payment per month.
2. Lower Interest Rates:
Since we have tried-and-true relationships with most banks and most credit unions, we’re able to negotiate on your behalf to lower your interest rates. We also make sure you’re able to meet your minimum payments beforehand.
3. Helpful Budgeting Advice
In addition to helping you get out of debt, our free credit counseling services help make sure you stay out by providing the proper tools and skills you need to create and stick to a set monthly budget.
4. No More Harassing Creditor Calls
One of the best parts of our nonprofit debt management program is that we face the creditors for you. We’ll speak to them on your behalf, therefore ridding you of all those harassing calls and constant reminders of past-due bills.
How Much Does The Debt Management Program Cost?
Because we are a nonprofit, we receive most of our support from voluntary contributions. Our members pay a low initial setup fee and then a monthly fee equal to 1.2 percent of their total balance up to a maximum of $55.00 per month. (Please note that this fee may vary depending on your location.)
Helping America Get Out of Debt
Since 1991, we’ve helped Americans save over $1.7 billion in debt and interest charges. While it takes an average of 20-30 years for most people to pay off their debt on their own, with our help most are able to become debt-free within three to five years.
Debt Help and Relief
Contact us online by filling out the form above, or call CreditGuard of America at 1-800-500-6489 for more information on our nonprofit credit counseling and debt counseling agency.
Certified Credit Counselors are available Monday - Thursday 8:00 am - 10:00 pm Eastern, Friday 8:00 am - 9:00 pm Eastern, Saturday 10:00 am - 6:00 pm Eastern.