Debt Management Advice for Stay at Home Moms -- -for Free! ! ! from a Stay at Home Mom (cont.)
Contributed by Lisa Marie
It's actually not the services fault. they do exactly what they claim ti do...Reduce or even eliminate your interest from creditors while combining your payments into one smaller, more affordable monthly payment. The issues lie with our friends, the creditors. While some will send you letters congratulating you for your attempt to get out of debt, others frown upon it and can even state that you're late on your payments, or not making them at all.
Another concern is what your creditors are telling each other via your credit report. In the comment section, your creditors can write such things as "Under Credit Counseling" or "Debt Management Service". Even though they mark your credit as being current and paying as agreed, this note tells future creditors that you are a risk: that you needed help paying your financial obligations. This can obviously lower your credit score.
The conclusion of my free debt management advice.
Get some advice from your local financial institution. They may just well have programs for debt consolidation loans is which you may be eligible. The management of the loan department will give you your options for free. Do something now before it's too late!
