If you’ve found yourself struggling to pay down those bills that you have already fallen behind on you may be wondering if you missed your chance to get some debt management help. This assistance, also known as credit counseling, is when you enroll in a monthly payment plan that goes directly to the agency you are receiving the management assistance through. This company then takes these funds and pays your creditors on your behalf. The counseling agency is likely going to require you to pay a small fee to them as well for their services. Now, while it is never too late to get some debt management help that does not mean that this is necessarily the best option for you when it comes to getting rid of that debt you’ve accumulated. Below are a few things to keep in mind before deciding to work with a debt management agency.

You Might Not Need Them

Instead of taking on the additional fee that they are going to require from you, you may be able to do the same thing that they’re offering on your own. The main thing these companies do on your behalf is call your creditors and work out alternative repayment plans for you, ideally these come with lowered interest rates and fees. If you’re already behind on your payments to these companies then the odds are that you can do this step yourself. The majority of creditors are going to happily work with you in order to help you avoid bankruptcy, which sucks for them.

You Can Kiss New Credit Goodbye

Once you make the decision to enroll in a debt management program, you are going to be prohibited from opening new lines of credit. This takes place because if new lines are opened you would be risking the benefits your debt management program has been able to negotiate for you. However, if you are already behind on your bills then opening a new line of credit would not be in your best regardless. Therefore getting some credit counseling may be just the option you need.

It’ll Simplify Your Debt Crisis

There are a few major advantages to seeking out debt management help. A few of these include the fact that the company you hire may be able to convince the creditors to waive the additional fees for you. Also, once your debt management company makes the initial contact it is likely that your creditors will automatically significantly lower your interest rate. Both of these things are going to save you money in the long run which is definitely what you want.

Just because you have found that you are already behind on your bills does not mean it’s too late for you to seek out debt management assistance. In fact, programs such as these may be even more beneficial to you now that you’re behind than they would be if you were current on all of your payments.

If you find yourself struggling with debt or would like to find out about becoming debt free, call Debthelper at 800-920-2262, or visit @ www.debthelper.com.