Free Debt Management Services Compared by:Carrie Reeder
Debt plagues millions of people all over the world
. Debt can be a positive thing. For instance, if we never had any debt we would never be able to buy a house or a car. Debt is necessary in many cases, but for some people it can get out of hand. There are many free debt management services available to the public. Each service offers various advantages and perks unique only to their company. Here, several free debt management service characteristics have been compared to give you an idea of what to expect.Paying Bills For You - Some debt management services use a hands-on approach to your financial problems. They design a program in which you deposit money once a month into a trust account. When your monthly bills come due, the debt management firm pays them for you. This type of service allows you to make one monthly payment while letting the debt management service take care of the rest. Many times these companies will call your creditors and get monthly payments and interest rates lowered. This hands-on type of debt management program is usually exclusively for people in serious financial trouble.
Help With Budgeting - Another free debt management program uses some of the same payment lowering techniques, however it is their last resort. First, these programs take a look at your individual financial situation. They closely examine the cash flow that comes in and goes out of your household. Next, they help you create a budget and assist you with some actual credit counseling. Their goal is to correct the problem at it's source. If you need additional assistance, they can contact your creditors as well.
Non-Profit Help - The last type of free debt management service is purely nonprofit. Many of these programs are offered as charity services. They assist you in creating a budget that will work for your unique situation. Sometimes these programs are run through churches or other nonprofit organizations. These free debt management services will not contact creditors and get your monthly payments lowered, but they can help you manage the payments you have.
Choosing a free debt management program all comes down to personal preference. Each of the different services have benefits and drawbacks. The bottom line is: you don't necessarily have to pay a fee to get quality debt management services.
About the author
Carrie Reeder is the owner of http://www.abcloanguide.com, an informational website about various types of loans. View her recommended companies for http://www.abcloanguide.com/debtconsolidation.shtml. Sub-Prime Mortgage Loans - Five Ways To Lower Your Rates On A Sub-Prime Mortgage by:Carrie Reeder Another Chance to Shine - Following Up on the Interview by:Heather Eagar Refinancing After Bankruptcy - Tips On Refinancing Your Home Mortgage After A Bankruptcy by:Carrie Reeder When the Job Search is Over, be Sure to Say Thanks by:Heather Eagar Debt Settlement Vs. Debt Consolidation by:Carrie Reeder The Best Debt Management Programs - How To Choose by:Carrie Reeder Home Loan Refinancing - When Do You Have To Close? by:Carrie Reeder Lower Credit Card Debt by:Carrie Reeder Low Interest Debt Consolidation Loans - Getting A Low Rate by:Carrie Reeder Don't Skip the Follow Up After an Interview by:Heather Eagar Help With Debt Problems by:Carrie Reeder Buying Investment Property by:Steve Gillman Cash Out Refinance - Things To Know About Refinancing Your Mortgage To Get Cash Out by:Carrie Reeder