Debt Consolidation Inc

When trying to pay off debt, one of the options a consumer may consider is a debt management plan.

Through a debt management plan, a consumer works with a consumer credit counseling service. According to the Federal Trade Commission, consumers give the counseling service money, which it then uses to pay off debt for the person.

The advantage of a DMP is that a consumer credit counseling agency may be able to negotiate with lenders to get lower rates. However, the FTC notes there are some things consumers need to do if they are in such a plan. They need to make sure to make payments on time, and they should check their monthly statements in order to ensure their lenders are getting the money. Read the rest of this entry »

Debt settlement is one way that consumers may be able to find some help when it comes to money management.

A consumer credit counceling agency can refer a consumer to a debt settlement company, which in turn can negotiate with lenders in order to reduce the amount a consumer owes on things like credit card debt. In a recent story for articlesbase.com, Vincent Polisi, founder of the rent-to-own firm Finance the Dream, noted that creditors would rather get some of the money they are owed rather than none at all. Read the rest of this entry »

A recent survey from the National Retail Federation indicates people may be less likely to take on credit card debt during this year’s holiday shopping season.

According to the poll, only 28.3 percent of respondents said they would pay for purchases with credit cards during this holiday season, which is a 10.1 percent drop from the 31.5 percent who said they would do so in last year’s survey. Read the rest of this entry »