Consolidating organizations

When you start pursuing debt management options, you may get mixed messages from people in the debt relief industry.

The first thing to determine is if your debt is secured or unsecured. For example, car loans and mortgages are secured debts.

Debt Management Program: These programs often work hand in hand with credit counseling.

During this program, you receive financial counseling and meet with a financial advisor.

When you begin this process, you set aside funds each month into a separate, insured account.

While you're building up your funds, the company or lawyer you've selected negotiates with your creditors to try to reduce the total amount of debt you owe.

Search for consolidating organizations:

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On $10,000 of debt you can expect to pay anywhere between $1,400 to $2,500 in fees.

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  1. One comment on the Carson application said in part: “The Carson City School District provides a very strong, comprehensive, and coherent plan for the revision of the district school system.” Photo courtesy of the National Archives and Records Administration via Wikimedia Commons.