A Debt Management Plan is a mutual agreement between you and the Debt Management Company. You agree to repay your unsecured debts in full over time, without taking on any more debt. In return, most creditors will agree to significantly reduce your interest charges, waive any late fees, and re-age your accounts back to a current status. A Debt Management Plan can help you get out of debt quicker than you could by paying the bills on your own. You would make one simple payment for your all your unsecured debts. The benefits typically begin after 3 consecutive timely monthly payments.
Our Service Comparison Chart (as of 10/15/2008)
Consolidation Loan
Credit Counseling
Bankruptcy
Ch. 13
Ch. 7
Lowers your bills dramatically
YES
NO
NO
NO
YES
Get you out of debt in 3 years or less
YES
NO
NO
NO
YES
Eliminate your accounts at 50% of the balance*
YES
NO
NO
NO
YES
Online resources to help you manage your accounts
YES
NO
NO
NO
NO
Nationally recognized customer service and patent-pending technology
