Your Payday Loans Debt Management Options
There exist various choices that you can choose from when debt relief is involved. Are you trying to consider the best option for your situation? Then you put the debt consolidation and debt management plan into consideration.
Both of them might seem similar but they are very unalike. Stick around if you are interested in knowing what each of them consists of.
Do you want to know the types of debts we handle? Reach out now.
Debt Management Plan
Do you have any unsecured debts? If yes, a Debt Management Plan will be of great assistance to you. It does this with the help of no-profit credit counseling agencies. Here are some various unsecured debts that are covered in DMP.
- Collection accounts
- Medical bills
- Repossessions
- Department store cards
- Credit cards
Inside a Debt Management Plan, your secured debts and payday loans should not be included.
Benefits of a Debt Management Plan
Do you want to gain control of all of your finances without incurring more debt? You should then consider enrolling in a Debt Management Plan with a trustworthy counseling agency that is non-profit.
Here are some of the advantages of a Debt Management Plan:
- Eliminating collection calls
- Ongoing financial education and support
- Lower interest rates
- Waive late and over the limit fees
- One affordable monthly payment
- Pay off debt in an average of 3-5 years.
How Does a Payday Loan Debt Management Plan Work?
First of all, you will have to know if DMP suits you. After enrolling, you will be required to make a single but affordable monthly payment to us. We are then going to pay all the creditors that you have enrolled.
Mostly, creditors usually offer debt relief benefits like eliminating certain fees, lowering the monthly payment, and reducing the interest rates.
How Much Does a Payday Loan Debt Management Plan Cost?
While you will be having a telephone or online conversation with us, we will:
- Review your income and expenses
- Make a debt relief recommendation
- Identify the root cause of your debt
In case you pass, a single requirement may be to join CESI’s DMP. Suppose you make a decision to participate, there will be an average one-time set up of $37 followed by a monthly fee of $25. However, these may vary depending on your state of residence. But note that the fees should not be over $75.
Is Debt Management Right for Me?
Are you planning on using the Debt Management Plan to consolidate your debt? Then you should begin completing a free online debt analysis. You should be thorough in a blink of an eye.
We shall provide you with a projected plan depending on the intel that you provided. In the plan, you shall be able to know what a DMP can do for you.
Take Control of Payday Loans with Encompass Recovery Group
Are payday loans causing you constant stress? It’s time to break free. At Encompass Recovery Group, we offer tailored solutions, to help you eliminate payday loans and regain control of your finances. Start your journey to a debt-free life today by contacting usor calling us at 877-769-0109.