What is a debt management company?

A debt management company is a third party company that assists consumers in their repayment of debt. Many companies that do this kind of service is called credit counseling or consumer credit counseling. Consumer credit counseling is referred to as CCCS as well. They will also help you work out a budget so you can save more and allocate more money to getting out of debt. Often times they will lower interest rates and get over the limit and late fees to stop accumulating. It used to be that signing up with a debt management company was like doing a chapter 13. Those days are over, you can actually buy a home while you are still in the program.

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Will my credit score go up after Debt Negotiation program

If you are in a debt negotiation program and are wondering if your credit score will go up while you are in the program, the answer is that it will. Each time that you settle an unpaid collection account your score will go up. It will be at its highest point once all of the unpaid collections have been settled and paid. Even though it will report as an unpaid collection it is still looked at by the credit reporting agency as a positive mark. Your credit score will always go up when you go from an unpaid collection to a paid collection.

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The Fair Debt Collection Practices Act, What Are My Rights If I Owe Money?

Let's face it, most consumers owe money and at some point, we miss a payment, get ourselves into a jam because we disagree with something we were billed for, or something catastrophic happens and our bills suffer. Even though you either legitimately or illegitimately owe money, you have rights. Knowing these rights could save you a lot of hassle, time and money.

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Debt Settlement, Bankruptcy, Debt Consolidation - Which Solution is Right For You?

There are many ways to get out of debt including: debt negotiation, bankruptcy, and debt consolidation. Each solution has its merit. If you are already behind on your bills you may consider debt settlement. (click for Full Story)

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How much will my credit score go up if I pay my collection accounts off?

If you pay your collection accounts off your credit score can go up as much as 200 points. It can take a few months to report properly in your credit report. Typically once all the collection accounts are paid off your credit score should go back to normal in about six months. You can negotiate paying off your collections as well. You don't have to pay back dollar for dollar what you owe. You might want to start our negotiating your debt at 25 cents on the dollar and see where you end up. You may have to play with them for awhile however. They usually don't just roll over on the first offer. You may have to back an forth a few times before you will be able to reach a settlement.

If you have any questions about debt negotiation please let me know.

Alternative to Bankruptcy