Debt Consolidation PLR Autoresponder Email Series

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Part 1- Credit And Debt Consolidation – (293 Words)
Part 2- Credit Counseling Services And Debt Management Programs – (333 Words)
Part 3- How Your Credit Score Affects Your Consolidation – (278 Words)
Part 4- Consolidating Your Debts Through A Bank Loan Or By Yourself – (285 Words)
Part 5- Advantages And Disadvantages Of Debt Consolidation – (315 Words)

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Credit counseling services and debt management programs abound, and they can be very helpful in helping you get a handle on your debt. This method of paying off your debt means that, rather than getting another loan to pay off all of your debts, you pay off the debts according to a monthly plan set by you and your credit counselor. A debt management program actually takes over the payment for you – you send the company one check each month, and they send payments to each of your creditors. This program will also allow the company to call, on your behalf, each of your creditors to try to get the creditor to settle for less money or a reduction in fees or interest.

A debt management program does affect your credit score, as the fact that you are using a credit counseling service will appear on your credit report as soon as your credit counselor starts calling your creditors, but this is a temporary effect as your credit score will go up once you have paid off your debt. This should not have an effect on your ability to borrow, as you are not allowed to obtain credit while you are on a DMP anyway.

A debt management program will cost you some money at some point in time. Hopefully this fee will be more than made up for in the amount you have saved through their negotiations, and because you will no longer have any late payment charges.

When choosing a credit counselor, be sure to choose a service that actually spends time getting to know your needs, rather than pushing you onto a DMP. If you do decide to go onto a debt management program, be certain that the entirety of all of your payments is going to your creditors. Any fees the credit counseling service charges should be told to you up front.