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Free Programs for Debt Management

When you are deeply in debt, everyday your mailbox is full of final notices. And each time you answer your home phone, it is another bill collector on the other end of the line. It isn't a pleasant situation.

It is important to understand the kind of debt that your problem consists of first. If the total of the minimum payments that you are required to make each month on your unsecured debt (think credit cards) exceeds 20% of your net income, then there are free debt management programs that can help you.

However, if the debt that you are drowning in is made of secured loans (mortgage payments, car loan payments, or monthly installment payments for furniture or appliances), then the free debt management and credit counseling services cannot help you and neither can the for-profit credit counseling and debt management services.

The free credit counseling services like CCCS (Consumer Credit Counseling Service and MMI (Money Management International) are nonprofit organizations. The services are free and you will not be charged a monthly service fee, nor will there be any charge for the counseling services.

Everybody has some debt. Nobody is ever really completely debt-free. Even older people who own their own homes and drive old cars still have some debt, like insurance premiums and utility bills.

Debt is a fact of life, but managing debt so that you control it and not the debt controlling you is the object of the free debt management and credit counseling services.

Please be aware that when you seek credit counseling and enter into a debt management agreement with the free credit counseling services, all of your credit accounts will be closed. You cannot charge anything else to those accounts, and you cannot open any new credit accounts until you have cleared your outstanding debt.

Milos Pesic is a professional Debt Management consultant who runs a highly popular and comprehensive Debt Consolidation web site. For more articles and resources on debt management, debt consolidation programs, free debt counseling and much more visit his site at:

=>http://debt.need-to-know.net/

Source: www.articlealley.com