Debt Management Credit Counseling

Debt Management and Credit Counseling are popular, and useful ways to help provide debt relief when you’re struggling to make ends meet. The terms “Debt Management” and “Credit Counseling” are used almost interchangeably. Essentially, what they refer to is a service offered by a third party organization that negotiates a different payment plan between your and your creditors.

How a debt management or credit counseling plan works is pretty straight forward - on the surface. DMPs or CCCS (Debt Management Providers and Consumer Credit Counseling Services respectively) have existing arrangements with creditors nationwide. When a consumer contacts them regarding their credit card debt, these organizations run an analysis to see if the consumer can qualify for the program they’re offering.

The representative on the other end enters this information into the organizations database. When all the data has been entered, their system analyzes the list of creditors in their database to see if the creditors you’ve provided are ones they have existing arrangements with. If they are, then their system sees if their program can lower your and payments to those creditors, along with the interest rates you’re being charged.

Most of the time, interest rates can be cut considerably, and this can be very helpful. Most people contacting debt management or credit counseling services have run into some issues, and these issues have resulted in an escalation in the interest they’re being charged on those accounts. It’s not uncommon to see one credit card with an APR over 25%. If the debt management or credit counseling service provider can lower the interest rates to single digits, then much more of the payment being remitted to the creditor will be applied directly to principal. Take this hypothetical scenario for example:

But, most people who contact a debt management or credit counseling service aren’t contacting them because they want their interest rates lowered. The primary reason people reach out to these organizations is when they’re having difficulty making ends meet, and lower payments are really what they need.

Can debt management and credit counseling help lower payments? Sure they can. However, in recent years, many creditors have been trying to help their customers the same way. And they’ve lowered their payments directly. Additionally, these lower payments offered by the creditors themselves oftentimes rival those that can be offered by debt management and credit counseling providers. So, even if interest rates are lowered, it does you no good if you still can’t make the payment.

Debt settlement, on the other hand, offers somewhat more flexibility as the debt settlement provider isn’t bound to the terms mandated by the creditor. While debt settlement isn’t a “magic bullet,” it has helped tens of thousands of people avoid bankruptcy and maintain their dignity. If you’re falling just a bit behind on your bills, and need just a little more breathing room, then debt management or credit counseling may be able to help. But, if you’re more than just a bit behind, debt settlement may be the way to go.

There are many debt settlement companies offering programs to help consumers with their financial problems. But, as far as I can tell, Superior Debt Relief Services does a great job, and they satisfy the “6 Keys You Should Look For When Hiring A Debt Settlement Company” I outline in my video.

1. Experience: Superior Debt Relief Services has been in business since 1998 and has settled tens of millions of dollars in consumer debt. They have great settlement history with creditors and collection agencies. They know what it takes to ensure that any payment remitted on a settlement is well documented, and they know how to navigate the complexities of operating a settlement program.

2. Education: Superior Debt Relief Services will provide you the education you need to ensure that you use their service as a stepping stone to creating the financial future you and your loved ones deserve.

3. Full & Complete Disclosure: Debt settlement is an aggressive plan. There are nuances that you must be made aware of before you enroll in a settlement plan. Superior Debt Relief Services takes the time to be sure you’re aware of all the ins and outs of their program before you enroll.

4. Promises & Guarantees: There are a lot of companies that will tell you what you want to hear just to get you to sign up. Not Superior. Nope, they don’t make meaningless promises and guarantees. That’s because they don’t have to. They have the experience you can count on to help you save as much as possible.

5. Are Employees Paid a Commission or a Salary:All Superior Debt Relief Services representatives are paid on a salaried basis. So, you won’t have to worry about being pitched a program because the rep is out to make a big commission.

6. Up-Front Fees: This is where Superior really sets themselves apart from the rest of the pack. They don’t charge any upfront fees just to enroll. I don’t know of any other company that does this.

If you’d like a free, no obligation consultation with a Superior Debt Relief Services, just call 877-810-8995 or fill out the simple form at the bottom of this web page. They’ll contact you as soon as possible and help you discover how debt relief program can help provide you with the assistance you truly need.

Debt settlement is Superior Debt Relief Services specialty. They’ve been in business settling debt since 1998. They settled tens of millions of dollars in consumer credit card debt for less than 50 cents on the dollar. I’ve worked with them for years, and have always found them to live up to their name. If you want sincere, honorable, and trustworthy help from a company dedicated to putting YOU first, then submit the information requested above, and a trained and certified representative from Superior Debt Relief Services will get in touch with you to help you understand if credit card debt settlement is for you.