Choosing The Best Debt Management Program
Choosing The Best Debt Management Program

If you’ve decided that debt management is the only way to get out of a financial bind, keep in mind that they’re not all alike. You’ll want to make sure that the agency is accredited, licensed and non-profit. And, you should always make sure that your clear on how the program works.

The agency should never quote a monthly payment without first examining all of your billing statements. No agency should require a large upfront fee, generally the fee should only range between $50 and $100 and make sure that you ask about any additional fees.

Be sure to ask how much any monthly fees will be. Most agencies will charge a nominal fee each month to cover expenses. The fee is charged for each creditor that you have, so it will vary from one person to the next. It’s very important to know how your payments will be divided between your creditors.

After all of the details are worked out and a payment amount has been set, make sure that you’ll be able to make the payments before you sign anything. If you feel the payment is too high, ask if it can be lowered. And, last but not least, make sure that you get everything in writing.

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