So you have found yourself in deep piles of debt. You're not the only one; when it comes to understanding debt with so many people facing it we all feel like dummies. Here are some great tips to take an active role in helping to find the light at the end of the tunnel with your debt.
Understand that even if your credit counseling agency is reputable there are still problems that can arise when you use a debt management plan. You need to take the responsibility seriously of checking any of the facts that they tell you.
No matter how much you trust your debt counselor make sure that you double check with the creditors before sending money to the counselor. Sometimes just to make sure you're really seriously going to pay your bills they can't contact the creditors to work out a debt plan with them until you've given them an upfront payment.
In the circumstance that your counselor informs you to make an upfront payment make sure with the creditor that what th ey have told you is true. If there are any questions you should work at clearing these from your mind before working with this particular counselor.
You'll want to inform the counselor when your payments are due so they set the payments up with plenty of time for the creditors to get them. This will keep you from owing more by charging you with penalties and late fees.
Every time that you make a payment you need to confirm with your counselor that they made the payment to your creditor in a timely fashion. You may need to check that it was credited by the creditor on time as well.
Always take an active part in checking your statements to be sure that your payments have been correctly credited to you.
This includes double checking that if they agreed to certain terms with your payments that they have honored their terms; such as allowing you to reduce your payments or charging you less interest fees, even waiving some fees.
Debt settlement is a viable alternative to declaring bankruptcy. Most consumers are able to eliminate at least 60% of their unsecured debt while avoiding many of the negative consequences associated with bankruptcy. If you are over $10,000 in unsecured debt you will be eligible for debt settlement. To locate legitimate debt settlement companies in your state check out the following link:
Free Debt Advice [http://www.freedebtreductionhelp.com]
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