http://www.credit-card-counseling.net/debt/debt-management/debt-management-programs/ Debt management programs can help anyone become debt free. Learn more about debt management programs here. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 The term debt management programs is pretty vague. It's an all-encompassing term that covers all the programs available that are designed to help people get out of debt. Debt Management Programs Rock! What's the best thing about debt management programs? Is it the fact that they can save you thousands of dollars or the fact that they can get you out of debt a lot faster than you could on your own? Both of these are very attractive features. But some debt management programs have even more attractive features. Here's more information so you can make an educated decision: Debt Consolidation - This program uses negotiation to get your unsecured debt balances and interest rates lowered. Then the new, lower balances are combined, and you make one, much more affordable monthly payment to the debt consolidation company, which they distribute among your creditors. Because of the reductions, you can become debt free in about five years. Debt Consolidation Loan - This is a loan given to you to pay off your unsecured debts immediately, but you still have the loan to pay back. The benefit is that the interest rate on the loan is so much lower (generally half of what you're paying now) that you can have it paid off in five years or less. Debt Consolidation Mortgage - This debt management program allows you to borrow from the equity in your house to pay off your unsecured debts. Your payment is combined with your mortgage, your repayment period is the same amount of time that's left on your mortgage, and you get the same low interest rate as your mortgage. (In some cases, the interest is even tax-deductible. Check with your tax advisor to see if this will work for your tax situation). Student Loan Debt Consolidation - This combines all of your outstanding student loans into one and locks in a much lower, fixed interest rate for you. Your monthly student loan payments are cut in half, too, because you are given more time to pay them off. Debt Settlement - Allows you to pay off your debts at 30-50 cents on the dollar in lieu of paying it off immediately. (Some debt management companies will give you 1-3 years to pay it off, but your reductions might be closer to 50 or 60 cents on the dollar instead of 30 cents on the dollar.) So did any of these debt management programs appeal to you? Do you think one of these debt management programs might "fit the bill," so to speak, to help you become debt free? If so, contact a debt management service for more information today. You might just be one step closer to the debt management program that will save your financial future. Don't waste any more time and money get the skinny on the debt management services that can, and will, help you get out of this debt rut. Sat, 26 Jul 2008 15:00:00 EDT