What is a debt management program?

Are you dealing with high interest debt that only seems to grow with time? Are you looking for ways to get out of it? If so, you're not alone. In fact, recent statistics from the Federal Reserve Bank of New York show that about one in five credit cards is maxed out and nearly 9% of Americans who owe money to credit card companies are delinquent. And, credit card debt may not be the only type of high interest debt you're dealing with right now.

Payments: After agreeing to your payment plan, you'll usually send a single monthly payment to your debt management provider. They'll divide your overall payment into individual payments and send those individual payments to your lenders as agreed. Debt freedom: When you've made all your payments as part of your debt management plan, the plan will end and your debt will be behind you.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Student Debt Stories: High Interest, Debt Strikes, Generational Debt, and MoreThe student debt crisis has many faces, from students dealing with private loans and high interest rates to those with debt but no degree.
Source: TeenVogue - 🏆 481. / 51 Read more »

Debt consolidation vs. debt settlement: Which option is right for you?Both options offer unique benefits for borrowers right now. Here's what to know to help you decide.
Source: CBSNews - 🏆 87. / 68 Read more »

Here’s why US debt is out of control — and Japanese debt isn’tJapanese debt might be high, but it isn't comparable to American debt, which is set to trigger a financial implosion — and light a spark under Bitcoin.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Debt relief ripoff: Woman hires relief firm, ends up deeper in debtKnow the risks of hiring a company to help with bills.
Source: 10News - 🏆 732. / 50 Read more »

Debt consolidation loans vs. debt management programs: Here's how to chooseAre you torn between a debt consolidation loan and a debt management program? Here's how to choose.
Source: CBSNews - 🏆 87. / 68 Read more »

Debt consolidation loans vs. debt consolidation programs: Which is better?Debt consolidation loans and debt consolidation programs can help you get out of debt. But which is better?
Source: CBSNews - 🏆 87. / 68 Read more »