Debt Management Program And Debt Consolidation Coalinga CA

A financial expert explains how a debt management program works.

Valley First Credit Union
(559) 275-3944
3434 W. Shaw Ave.
Fresno, CA
 
State Center Credit Union
(559) 225-7228
1515 E. Shaw Ave
Fresno, CA
 
Consumer Debt Group Inc.
(415) 546-1128
350 Townsend St Ste 308
San Francisco, CA
 
C Cc
(415) 788-0288
595 Market St
San Francisco, CA
 
United Local Credit Union
(559) 227-8329
3650 E Ashlan Ave
Fresno, CA
 
CONNECT MERCHANT PAYMENT SERVICES
(303) 956-9478
5700 Division St.
Riverside, CA
 
East Bay Financial Management
(510) 451-4085
77 8th St
Oakland, CA
 
Debtors Anonymous
(916) 349-7093
4741 Madison Ave
Sacramento, CA
 
First California Federal Credit Union
(559) 226-8282
2525 E. Shields Ave
Fresno, CA
 
Fresno County Federal Credit Union
(559) 252-5000
3067 W Bullard
Fresno, CA
 

Debt Management Program And Debt Consolidation

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Q: What is the difference between a debt management program and debt consolidation?

A: Debt management programs are used by individuals who have accumulated excessive amounts of consumer debt typically in the form of credit card debt. A debt management program combines credit counseling with other services such as negotiations with your creditors and the development of a repayment plan. A number of non-profit agencies and for-profit firms offer debt management services.  Many of these are highly reputable and offer a valuable service; others are less reputable and may charge you excessive fees or "voluntary" contributions. 

Before signing up with one of these firms, check the website for the National Foundation for Credit Counseling (www.nfcc.org) for further information on debt management programs. Also, check with the Better Business Bureau in your local community to see if any complaints have been lodged against the credit counseling firm that you are considering.

Debt consolidation may be part of a debt management program. Debt consolidation refers to consolidating the debt from multiple loans into one larger loan. Debtors do this to get a lower interest rate or for the convenience of making one monthly payment rather than a number of payments to different loan sources.  As in the case of debt management services, a number of firms offer debt consolidation loans.  Before taking this route, check the interest rate on the loan and associated fees.  Most important, do not use debt consolidation as an excuse to simply take on more debt. ...


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