http://www.debtconsolidationweb.com/debt/debt-management-programs.html Debt management programs exist to help people out of their financial crisis. Learn more about debt management programs here. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Debt. It's something you are probably quite familiar with, for better or worse. But what you might not know anything about is debt management programs. Let us educate you. Choices The beauty of the 21st century is the number of choices we have in almost anything we do. This is especially true of the choices in the debt management industry. First of all, you can choose to go with online debt management services, Christian debt management services, non-profit debt management services, "free" debt management services, debt management services for those with bad credit and more. There's a lot to learn about those different services before you commit to one, but there's also a lot to learn about the myriad of debt management programs out there. When you hear these terms from a debt management professional, you don't want it to be for the first time. You want to have some idea of what they're talking about. Remember--knowledge is power. To that end, we can give you a brief overview of the five basic debt management programs so it's not quite as confusing for you. Student Loan Debt Consolidation - This is for consumers who are trying to pay back $10,000 or more in student loan debt. It works by combining all of your student loans into one, giving that new loan a low interest rate and cutting your monthly loan payment in half. Debt Consolidation - Under this debt management program, a debt consolidation company contacts your creditors to get your balances reduced through lower interest rates and removal of past fees. Then they consolidate all the new balances and you make one monthly payment to the debt consolidation company each month. They make sure your creditors get their money, and your balance is paid off in five years. Debt Consolidation Loan - You need collateral for this type of debt management program because it's an actual loan that's given to you in the amount of your outstanding unsecured debts. You pay your unsecured debts off, then pay the loan company one monthly payment at an interest rate that is so much lower than what you were paying before that you can be out of debt in five years! Debt Consolidation Mortgage - This is a debt management program for homeowners that allows them to borrow the amount it takes to pay off their unsecured debts from their mortgage company. That amount is then added to the mortgage, so they're essentially paying off all their unsecured debts at the same interest rate as their mortgage! The mortgage payment does go up, but only a little. Debt Settlement - This is a debt management program that gets the total amount of your unsecured debt reduced by 60-80%. If your creditors agree to this, they will want their money right away, so you better have the cash on hand. In addition, they'll probably report it to the credit reporting agencies. If so, it will effect your credit in much the same way as a late payment. You may qualify for one or more of these debt management programs, depending on your resources. But with so many good debt management programs available, you're sure to find the perfect debt management solution. Just contact a debt management service today. With all of the valuable information that you gather for yourself, you will find the best debt management programs for you! Sat, 26 Jul 2008 15:00:00 EDT http://www.debtconsolidationweb.com/debt/best-debt-management-programs.html Best debt management programs - What should the best debt management programs have? en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0