Debt Management Services

What You Need in a Debt Management Company

So you know you need debt management services to help you find relief from debt, but how do you choose the right debt management company to help you? With so much at stake, you want to know for sure you’re making the right decision for your finances. Choosing the right debt management company can help you get to the place you want to be financially, while choosing the wrong company can potentially put your financial future at risk.

If you have questions about who we are and what we do at Consolidated Credit, don’t hesitate to give us a call. We’ve been helping good people just like you for almost 20 years and we maintain an A+ rating with the BBB. We’ll answer any questions you have about our company or the debt management program. We can also provide you with free personalized advice for your financial situation, even if you decide not to enroll in a DMP. Call us at 1-888-881-3619 to speak with a certified credit counselor from Consolidated Credit. If you simply want to get a professional opinion on your debt, you can also complete our Free Debt Analysis online and we’ll call you.

For-profit debt management vs. nonprofit debt management

This is the biggest distinction between different debt management companies. Some companies are for-profit debt management companies, while others are actually 501(c)(3) nonprofit agencies. The IRS maintains strict guidelines on which companies have nonprofit status and which do not.

The basic difference for you as a consumer comes in how much you’ll pay for the various services offered. With a nonprofit credit counseling agency, you can get free consultations before you enroll. You pay minimum setup and maintenance fees on your debt management program as well. In addition, while you’re in the program, you have free access to all of the financial education materials the credit counseling agency has available. All of this adds up to the fact you don’t have to pay someone to help get you out of debt. With an already tight budget, the last thing you need is another bill!

Reviews are a vital tool in a customer-driven industry

Debt management companies and credit counseling agencies are all about serving the customer. Without customers needing debt management services, these kinds of companies simply wouldn’t exist. As such, customer feedback is one of the most valuable resources you have when choosing the right debt management company.

When choosing between debt management companies, look online to find customer reviews and check the Better Business Bureau to find company ratings. You can also check with friends and family members to see what they say about a particular debt management company they may have used or heard about someone else using. While not every customer has the same experience, if you can find more positive feedback than negative, you can rest easier that you’ve made the right decision.

Going beyond basic debt management

The last thing that makes debt management companies different is what kind of services they offer besides just the capability to enroll you in a debt management program. Getting out of debt is a great feeling, but it’s even better if you can move forward with confidence that you know how to avoid debt problems in the future. To do this, you need more from your debt management company than basic enrollment in a program.

As you choose between debt management companies, compare what kinds of resources they offer in addition to their DMP. Do they have budgeting tools and resources or budgeting seminars you can take to learn to manage your money better each month? Can they provide other counseling, such as counseling for purchasing a new home, if you need different financial advice down the road? Can they help you get the knowledge you need to rebuild your credit and/or use credit more effectively in the future?

If you have questions about the services Consolidated Credit can provide—from personal finance and money management advice to housing counseling—give us a call at 1-888-881-3619 to get answers from one of our certified credit counselors. You can also try us out by taking a Free Debt Analysis online to arrange a no-charge, no-obligation debt consultation.