Debt Management Systems
Is Debt Management the answer?
credit score not where it should be….3 credit cards and one personal loan open….struggling to make payments as well as day to day living. Payments for these debts are about 30-45 days past due. Want to know if debt management is the answer or just keep plugging away and making payments and trying to keep current as much as possible. Have been told that a “debt management” system can be more harmful than good.
Words from the wise or wiser would be GREATLY appreciated!
Google Clark Howard. he has lots of information on this issue. Be careful of these debt management companies. They often just charge fees and do nothing to resolve your credit situation. He will give you a link to site that is there to help you budget and work woth your creditors. Often most of your payments to them are just going towards interest and other fees. . They will help to eliminate these fees and often negioate a pay off amount for you. Be careful and ask questions. When you do start to use this method it will affect your credit rating as well. FYI