CancelDebt.com
All Debt Plans are NOT created equal
What you should know before choosing a plan.
There are major differences.
1st lets look at Consumer Credit Counseling plan.
Most of the debt management plans you see advertised fall into this category. If you use one of these plans, your interest rate will be reduced, typically by about 4 percentage points, you will usually be paying the minimum payment on each account and it will take a long time to payoff the accounts. The debt management plan reports to the credit bureaus that you are in Credit Counseling. Many creditors look upon Credit Counseling the same as bankruptcy. It stays on your credit report for 7 Years! Many of these companies will tell you they won't hurt your credit. It simply isn't true!! Consumer Credit Counseling companies work for the credit card companies. The more they collect from you, the more they get paid. (This is why some of them advertise they are free.)
Now lets look at our plan, Debt Reduction. Our company does not report to the credit bureau. It will not show on your credit report that you are on a Debt management plan. We will usually be able to get you out of debt sooner, and with a lower monthly payment than most other plans. When we tell you what the payment will be, then that is what the payment will be, we don't come back and raise it after you sign up (many of the others do). We work for you, not for the credit card companies. Our company negotiates the best deal possible with the creditor. Part of the agreement is that the account is reported paid to the credit bureaus. Once you complete the plan your debt to income ratio will improve, since your unsecured debt will be gone. In a short time after completing the plan, your credit will improve.
* 100% Confidential - No Obligation
Some debt reduction companies work for the credit card companies,
WE WORK FOR YOU.
For Information, Click the EMAIL link below. We will respond promptly.
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