Doctor Debt - Debt Management Program

Debt Management Program

The Debt Doctor is a doctor unlike any other. He'll talk to everyone--no insurance required! He's got information on a debt management program for almost any situation. Not sure there are debt management programs out there that can help your financial disaster? You'd be surprised. Take a look...

Doctor Debt's Prescription for a Debt Management Program

No matter what debt situation you're in, one of the five basic debt management programs listed below is sure to be right for you:

Debt Settlement - Let's pretend you have $10,000 in debt. What if you found out you could pay it off for $5,000 and it would be considered settled--if you pay it off immediately? (Or at the very least, within 1-3 years?) Well, debt settlement does just that. This is a debt management program that allows you to pay off your debts at 30-60 cents on the dollar.

Debt Consolidation Loan - A low-interest loan given to you to pay off your unsecured debts. Your loan payment replaces your monthly payments, and the interest rate on the loan is so much lower (generally half of what you're paying now) that you can have it paid off in five years or less.

Debt Consolidation - This debt management program involves negotiation to get your unsecured debt balances and interest rates lowered. Then the new, lower balances are combined and you make one monthly payment to the debt management company, which they distribute among your creditors. Because of the reductions, you can become debt free in about five years.

Debt Consolidation Mortgage - A debt management program that allows you to borrow from the equity in your house to pay off your unsecured debts. Your payment is combined with your mortgage, and you get the same interest rate as your mortgage. In some cases, the interest is even tax-deductible (check with your tax advisor to see if this will work for your tax situation). This is absolutely the best option for homeowners.

Student Loan Debt Consolidation - This debt management program combines all of your outstanding student loans into one and locks in a much lower, fixed interest rate for you. Your monthly student loan payments are cut in half, too, because you are given more time to pay them off.

So which debt management program is right for you? Some of them are obvious. For example, if your only debt is student loan debt, student loan debt consolidation is the obvious choice for you. And if you're a homeowner, you could qualify for a debt consolidation mortgage. And debt consolidation is a one-size-fits-all debt management program that will work for just about anyone--even those with bad credit. Contact a debt management company to find out which debt management solution is right for you.