Creditors

Hi Paulette

Welcome to the forums. The main objective of a debt management program is to make you free from all your credit card debts within a stipulated period of time. Most of the creditors also require that all your dues get cleared. Through this program, you can improve your credit score and enhance your credit rating.

The consultant will directly negotiate with your creditors and choose the best repayment plan for you. Doing this, he will be providing you a lower monthly payment, cutting down the interest rates, late fees and over limit charges.

http://www.debtconsolidationcare.com/debt-management.html

After you are satisfied with the negotiated amount, please send your monthly payment to the debt management company who in turn will send it to all your creditors. You will be receiving each month's transaction details from your creditors as well as from the debt management company with figures outlined in it.

Will it look "better" if I only have 3 creditors that are contacted rather than 5 or 6?

It entirely depends upon your wish to include any number of credit cards in the debt management program. As you said that you may be able to pay some of your outstanding debts, you are not required to put it in the program. Speaking in today's world, I will suggest you to keep one major credit card away from the program so that you can use it in case of emergencies.

The debt management program will appear in your credit report. The purpose of it is to stop you from gaining additional credit. After you have successfully paid all your dues, you will have an improved credit rating. After all, your credit report is one of the most prestigious financial documents in your lifetime. Every positive step should be taken to keep it clean from any negative remarks.

Hello Paulette,
Welcome to the forums.

Quote:

If considering Debt Mgmt, does it make a difference if I only "manage" a few of my outstanding debts and leave the "smaller" ones out and just pay them off as I can, or should I just manage ALL of my credit cards

I believe, it is not a good idea to handle your debts independently. Rather it will be in your interest, to consolidate all your multiple debts into one single debt. The primary step should be to pay off your smaller debts first. Then you can utilize the savings that you received from that to pay for your larger debts.

For in-depth knowledge on debt management Program , please visit the following URL :

http://www.debtconsolidationcare.com/debt-management.html

However, if you are looking forward to paying off your debts on your own, you may follow some guidelines while shopping. You must budget your expenses and save money in order to pay-off your debts . For more information please go through the following article :

http://forums.debtcc.com/shopping.html


This site also offers advice to its members about debt related problems. To avail the services mentioned in this site you can get yourself registered by visiting the Signup page.

Hope this information helps you.
Feel free to return if you have any further queries.

Regards,
Peter.