Regardless of all the preparations, the success of the debt management plan will depend on the consumer’s ability to stick to it.
Miami, FL (PRWEB) June 26, 2013
National Debt Relief, the number one provider of debt settlement service as proclaimed by TopConsumerReviews.com, recently published another article in their website. Staying true to their intent to provide debt education online, the company focused on debt management plans by providing various tips on how to ensure that it will work for the consumer.
The article entitled “The Secrets To Making A Debt Management Plan Work” was published on June 8. It discussed 7 secrets that the company is sure consumers can use to make their debt management plan a success.
The debt relief company states how it all begins with a credit counseling agency. The consumer will have to select one so they can be assigned a debt counselor who will work on their debts. The goals of this program is to negotiate the following:
1. Waive late fees
2. Make monthly payments more affordable
3. Reduce interest rates
National Debt Relief believes that consumers can only enjoy these debt management benefits if they implement certain tips. They reveal seven secrets that they believe is simple yet crucial in ensuring the success of their debt relief efforts.
Secret 1: Choose the right debt management company. Having been in the industry for quite some time now, National Debt Relief admittedly points out how scammers have infiltrated the market. They always put out a warning for consumers to be careful with their choice of company so they will not be scammed out of their money.
Secret 2: Get everything in writing. This will protect the consumer from a lot of things - hidden charges, unnecessary fees, etc.
Secret 3: Only agree to an affordable amount. This entails a careful examination of finances. If the amount is too expensive, the debt relief company encourages consumers to opt for other programs that will allow them to make lower payments.
Secret 4: Continue with regular payments even as the debt counselor is negotiating the DMP (debt management plan) with creditors. This will keep the late payments and high interest rates from accumulating and making the debt worse for the consumer.
Secret 5: Wait for the lender to approve the plan before sending any payment towards the counselor. Although the debt counselor will report if lenders and creditors agreed to the DMP, the article urges readers to confirm this themselves by making phone calls.
Secret 6: Make sure payments are kept every month. National Debt Relief believes that this may be most important secret of all. Regardless of all the preparations, the success of the debt management plan will depend on the consumer’s ability to stick to it.
Secret 7: Keep copies of every correspondence, loan and credit card statements. It has to always reflect what is stated on the DMP. If the debt counselor indicated in the DMP the lower interest rates, the statements from the creditors should reflect the same. If they do not tally, the consumer must call both debt management agency and the creditor.
To read the rest of the article, visit the National Debt Relief website.
National Debt Relief have worked with thousands of debt ridden consumers are continue to do so through debt settlement services. They advocate for debt education through their extensive library of articles to help non clients know their options when it comes to solving their debt problems.