Debt Management Programs: The Path to Freedom

Turned over piggy bank with smaller piggy bank coming out with gold coins neatly stacked.

Between attractive credit card offers and quick financial fixes, anyone can easily find themselves under a sea of debt. If you find yourself struggling under high monthly payments and harassing calls from credit collection agencies, know you’re not alone. Northwestern Mutual’s 2018 Planning & Progress Study reports that the average American has $38,000 in personal debt.

Only 23% of those asked claimed not to have any debt at all.

There is no reason to feel ashamed of your financial situation. Fortunately, there are debt management programs (like those at CreditGUARD) that can help you put an end to this difficult time.

What Is a Debt Management Program?  

The debt management program at CreditGUARD is a pathway to a brighter future.

In our program, you are paired with a certified credit counselor who is your guide on your debt management journey. They will negotiate with your creditors to reduce interest rates and try to reach a reasonable repayment plan. With over 28 years of experience, our counselors have the knowledge and expertise to navigate the complicated world of credit lenders to help you.

Debt management programs are not only designed to get you out of debt but to help keep you out of debt. Through credit counseling programs, you’ll learn the skills to live without relying on credit cards or loans.  

How Does CreditGUARD’s Debt Management Program Work?

CreditGUARD takes a four-step approach to debt management.

The first is an in-depth conversation with one of our certified credit counselors. This meeting helps our counselors and you understand the best way to prioritize your available funds concerning your unsecured debts. Next CreditGUARD will contact your creditors to reduce payments and outstanding interest. The next step is to consolidate your debts into one, more manageable payment. CreditGUARD’s nonprofit debt consolidation program ensures you get the needed help without any new loans.

The last step is an ongoing support system to keep you on the right financial path.

The Danger of For-Profit Debt Consolidation Loan Agencies

Some for-profit debt reduction companies offer debt consolidation as a one-size-fits-all debt solution.

This option may be helpful for some, but for the majority of debt sufferers, it only creates more headaches. For-profit debt consolidation restructures your debt into one lower payment to make monthly payments seem easier. If this sounds too good to be true, it’s because it is.

To receive these lower payments, these for-profit companies offer you another much longer loan term to pay off your initial debt. Because of this, the length of time you spend in debt increases, and over time, you end up paying more for your debt.

Even worse, many people revert back to unskillful money habits after receiving a consolidation loan. This means that, with the old debt moved into a loan, the credit card accounts that got them into trouble in the first place are ready to be used once again to acquire even more debt!

At CreditGUARD, our goal isn’t to prolong the time you spend in debt.

Our nonprofit programs seek to accelerate you toward financial freedom.

Living with debt is exhausting. Every day is a struggle dealing with never-ending calls from collection agencies, accumulating late payments, and falling credit scores. Take control of your financial life with CreditGUARD and our debt management programs. These programs are designed to reshape not only your current financial situation but your future one as well. If you’re interested in beginning your journey to freedom, call CreditGUARD today at 800-500-6489 !


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