For those that find themselves with more debt and credit card bills than they know what to do with, a Debt Management Plan may be a great way to help take control of all that debt.
However, as with everything they are pros and cons with these plans. Taking the plunge and speaking with a credit counselor may seem daunting, but there are some hidden benefits that may make the decision a little easier. If you’re on the fence about enrolling, then take a look below and see if any of these benefits make the leap a little easier to digest.
Take Out the Guesswork
One of the biggest problems people have when it comes to credit card debt, especially when they have a lot of it, is keeping track of everything. When is the Capital One payment due? Did the American Express bill get paid last month? When you’re getting numerous bills each month it can be easy to lose track of what has and hasn’t been taken care of. One of the big advantages of a Debt Management Plan is that all of this gets tracked for you. Instead of having to worry about all those bills showing up in your mailbox on different days and at different times every month you’ll only have to worry about one. Making one payment every month can be a lot easier to remember than having a daunting stack of envelopes just waiting for your attention.
The Phone Stops Ringing
Here is a huge hidden benefit! There’s nothing I hate more than looking down at my phone and seeing the dreaded bill collector is calling me once again. By speaking to a credit counselor and enrolling into a plan, you are giving the creditors and collectors incentive to stop calling you! Not only are you getting your debt under control, but you’re also getting those collectors off of your back. Your counselor will work as a mediator for you and you’ll be spared all those annoying and stressful phone conversations.
Less Creditors, More Credit
Another wonderful benefit to these plans is that not only will your credit card debt begin to disappear, but your credit score will also begin to rise. That’s definitely a plus! One of the biggest disadvantages to credit card debt (other than the phone calls) is that your credit score is impacted in a major way. By making that one monthly payment on time you can begin to see a positive impact on your credit rating, which as adults we all know is a pretty big deal.
While the idea of seeking out credit counseling and enrolling into a Debt Management Plan may seem intimidating, there are definitely some benefits out there that you may not have been aware of. As always, it’s important that you do your research to assure that this is the right option for you. However being aware of the positive benefits that these plans can bring to your life may make that decision a little easier.
If you find yourself struggling with debt or would like to find out about becoming debt free, call DebtHelper.com at 800-920-2262, or visit @ www.debthelper.com.