Although not new, debt management plans are becoming increasingly popular. For years, credit counseling agencies have worked with creditors to help reduce interest rates and stop any over-the-limit and which may be accruing on a credit card account.
Here some of the benefits of a debt management plan:
- Debt-free in less than 5 years: Debt management programs are designed to help you to pay off your credit card debt in five years or sooner.
- Your credit score will rebound: Using a debt management plan will help your credit score rebound fast.
- Your credit counseling agency is your middleman, meaning you won’t have to do the hard stuff: With your debt management plan, it’s as simple as you just following the plan. You won’t have to deal with the creditors because the counseling agency will act as your middle man.
