Debt Management Programs are
set up and administered by a credit counseling agency.
They are best suited to handle credit card obligations.
For a nominal fee, the counseling agency will negotiate
a payment arrangement with each creditor and devise
a plan that typically will run between four and five
years and pay the creditors in full. The counseling
agency can save you money by negotiating a significantly
lower interest rate on each obligation. Debt management
plan tend to have less impact on your credit score,
as compared to bankruptcy, but requires that you
have sufficient income to cover your living expenses,
plus the plan payment. Go to AuroraHealthcare.org for
more information.
