Choosing a debt management company can be the first step towardeliminating debtand getting into a better financial position.
However, choosing a reputable company is essential.
If youre ready to tackle your debt, this guide can help.
Heard of These Credit Card Debt Tips?
But millions of Americans overlookthese easy tipsthat could help them manage credit card debt even more wisely.
Read moreto boost your credit knowledge and keep your credit score in check.
Keep in mind that debt management solutions may positively or negatively impact your credit.
Ultimately, though, working toward having no debt at all in the future is in your best interest.
Were here to help.
Top 5 Debt Management Companies in 2024
Wondering which debt management company to choose?
Weve selected five that make repaying your debt simple.
All five are nonprofit organizations and have an A+ rating with the Better Business Bureau.
Credit.org
Credit.orgis available in all 50 states and offers a number of services to its clients.
With a wide range of programs and services, it can assist with most circumstances.
Credit.org has zero negative reviews on BBB and 4.9/5 stars.
It sets the maximum fees at $75 for enrollment and $59 per month for debt management plans.
But, its available in all 50 states, so it is widely accessible.
InCharge Debt Solutions has had nine BBB complaints in the last three years.
Its only available in 16 states, which may mean that its not an option for everybody.
Need a Hand With Bills?
Listen, we know its tough out there.
But theres no shame in asking for help.
These companiesmake it easy to help yourself and your bank account.
Frequently Asked Questions About Debt Management Companies
How do debt management companies work?
What are the costs involved with debt management plans?
Usually, debt management plans cost between $0 and $35 to set up the plan.
Be sure to discuss the fees associated with a debt management plan upfront before you sign a contract.
What are the pros and cons of working with debt management companies?
Most of the time, debt settlement lets you pay less than you owe to wipe out your debts.
However, it can have tax and credit score implications.
Credit Counseling
Credit counseling requires you to talk to a certified credit counselor.
A certified credit counselor asks you questions about your financial situation to figure out how to remedy it.
Theyll perform a financial analysis and help you make a budget.
In some cases, this is all you oughta get back on track.
Start your research, and prepare to move forward with a new debt-elimination strategy.
Can You Survive 10 Days of Budgeting?
If you should probably wrangle your budget, it may be time to consider a savings challenge.
