Apprisen shines with a low-fee guarantee (never more than $35 for setup and $35 monthly), service in all 50 states, online chat, a mobile app for account management, and 40 branches in 10 states. Founded in 1955, they claim to be the “oldest nonprofit credit counseling organization in the country” and are accredited by the BBB, NFCC, and COA. Despite their many positives, I would have liked to see more thorough descriptions and FAQs regarding their debt management plan.
To get out of debt quickly, you have to look closely at your assets. Real estate assets that are expensive to maintain, life insurance policies that are no longer necessary but have expensive premiums and investments with returns lower than the interest rate on debt should all be converted into cash right away. Be aware of the tax implications of liquidating assets. Typically, proceeds from a life settlement and money from the sale of a primary home aren’t taxable. Check with a certified public accountant before making any big moves.

Thank you for helping me to financial freedom. My two customer service agents Roger ** and Ed ** were very knowledgeable, professional, and helpful in getting me started with NDR. I want to say my experience so far is satisfactory. I would like to personally thank my service support agents. I rate NDR experience as a 5 star rating. Superb customer service at its finest. Look forward to getting out of debt soon. Thank you so much NDR team. Highest Regards.
In the United States, credit counseling agencies are loosely regulated by the Federal Trade Commission (FTC), the nation's consumer protection agency, which can sue companies that have deceived consumers about the cost, nature, or benefits of their services.[1] Different states may regulate DMPs individually and attorneys general are empowered to protect state citizens from fraud.[5]
If you have unsecured debts that qualify for a debt management plan and secured debts that don’t qualify, a debt management plan can still work. When you sign up for a debt management plan with a nonprofit agency, the credit counselor assigned to your case will offer comprehensive financial advice that can help you pay down all your debts — not just debts governed by your debt management plan.
Yes and no. If you begin with the biggest debt, you won’t see traction for a long time. You might think you’re not making fast enough progress and then lose steam and quit before you even get close to finishing. It’s important to pay your debts in a way that keeps you motivated until you’ve wiped them out. Getting quick wins in the beginning will light a fire under you to pay off your remaining debts! Listen—knock out that smallest debt first, and you will find the motivation to go the distance. 
Customer Service: Exceptional customer service that is available every day of the week is another benefit to working with Freedom Debt Relief. Many other debt relief companies only operate Monday through Friday, but Freedom Debt Relief also has Saturday and Sunday hours that run into the evenings. You can contact them by phone or email, whichever works best for you.
Report any problems you have with a debt collection company to your State Attorney General's Office, the Federal Trade Commission (FTC), and the Consumer Financial Protection Bureau (CFPB). Many states have their own debt collection laws that are different from the federal Fair Debt Collection Practices Act. Your state Attorney General’s office can help you find out your rights under your state’s law.
Man, I’m in trouble! Just calculated my DTI ratio and it’s not pretty! A year ago I started taking charge of my credit problem and decided to do a debt consolidation. The problem is, now that I had this loan in the exact amount of what I owed in credit card and line of credit I figured I would pay most of it and then keep a little money to get stuff I needed (a new mattress and some furniture). Stupidest move I ever did! Now, a year later, I’ve maxed out my credit card once again (I should have lowered the limit after I had paid it off a year prior…..but I thought I was good), I still owe over $5000 on my line of credit and now, I also have to pay that consolidation loan! Within a year, my debt amount went from $14,500 to $33,500! And the worst part? I don’t even know how I managed that! I don’t think I spend a lot of money on trivial things………but clearly I’m spending somewhere. So according to your calculator, I’m at a 0.62 DTI ratio. I mean I make over 50K a year, if I cut down on…..everything, I should be able to pay this off. My car loan is at 0% interest so I’m not too concern with that one. I do put money away every month in an RRSP (it’s the Canadian equivalent of a 401(K)) which cuts down my income tax payment at the end of the year. I’m also a federal employee so I have a pension plan at work with a lot of good benefits so I’m set on the pension plan side. But I can’t manage to save enough money to cover even one month of my income. I mean I’ll be 30 in 3 months and I’ve always been a pretty smart girl……..but I can’t get a hold on my finances! Anyway, I’ve been going through your site and checking out all your tools. It’s giving me a hope.
The Telemarketing Sales Rule, enforced by the Federal Trade Commission, requires companies that sell debt relief services to explain their fees and tell you about any conditions on their services before you sign up; it also prohibits companies that sell debt relief services by phone from charging a fee before they settle or reduce your debt. For credit counseling that promises to get you into a DMP, that means the company cannot collect a fee until you have entered the DMP and made at least one payment to your creditors using the DMP.
A debt management program consolidates your debt without you having to take out a loan. In other words, you don’t need a loan to pay off a loan. It is administered by a nonprofit credit counseling agency like InCharge Debt Solutions, which offers financial education alongside the program so that consumers learn from the experience and aren’t likely to repeat it again.
Consolidate debt using a low interest rate credit card. Discover the 10 best low interest rate credit cards as determined by CardRatings and Consumer Reports. They also tend to have very competitive fees. A low interest rate credit card can greatly reduce the amount you need to pay on your outstanding credit card bills and debt. Find a list of the 10 best credit cards for consolidation.
The top benefit is a reduction in both monthly payment and interest rates. There is the convenience of making only one payment for all your debts. You also receive valuable education materials, including financial tips and reminders for payments due. InCharge clients receive a monthly statement that details payments made to each creditor and a progress reports on how much of the debt has been paid.

Look into the fine print of any balance-transfer card you're considering to find out what your credit limit will be with the card. Many times, you won't be able to know until you get approved for the card. You won't be able to transfer more than that limit, less the balance transfer fee, if there is one, and if you exceed the limit you might face a fee.
Whenever you are dealing with a company that deals with debt or even money, people tend to have strong opinions. When you are dealing with risky procedures like debt settlement and bankruptcy, those opinions get even stronger. Generally, National Debt Relief reviews are good among debt relief services and it is one of the most trusted of the debt relief program services out there. On the flip side, there are a lot of people out there who feel scammed by National Debt Relief. Part of that is people who didn’t understand the risks involved. Part of it is people who didn’t get the results they were looking for. And part of it is probably National Debt Relief’s fault.
As a debt junkie for almost ten years, I ran up credit card after credit card living like my salary was about four times its actual size. Stupid things I bought on credit included flying lessons, weekends in Las Vegas, and a brand new pickup truck. Hey, I never said I wasn’t having fun. (Remember, I’m on the other side of 25 now, so I started college pre-recession… during the dot-com boom. Back then, I actually thought I could graduate with a sociology major and find a $75k a year job—because I knew people who did!)
Most debt management plans have participants send a monthly payment to the credit counseling agency. The agency then distributes it to creditors. They also negotiate lower interest rates, and may be able to have fees waived and can help reduce or eliminate the number of collection calls a person receives. Keep in mind, most plans take 36 to 60 months to complete. Credit counseling agencies may also help consumers review credit reports and dispute errors.
In some cases, credit card companies allow you to use balance-transfer checks. Essentially, you'll be able to deposit money in your bank account and get the special promotional balance transfer rate of 0% interest for a designated time. If you take advantage of this offer, you'd still pay whatever fee the card imposes for balance transfers, if any. This approach allows you to use a balance transfer to refinance even non-credit card debt to the 0% promotional rate. Just be careful not to confuse balance-transfer checks with a cash advance, which involves having your credit card lend you cash at a very high interest rate. 
They start by reviewing your income, expenses and credit score to determine whether how creditworthy you are. Your credit score is the key number in that equation. The higher, the better. Anything above 700 and you should get an affordable interest rate on your loan. Anything below that and you will pay a much higher interest rate or possibly not qualify for a loan at all if your score has dipped below 620.
If you are working with a credit counselor and think you’ll miss a payment, they can take proactive steps to mitigate consequences and create a plan to get you back on track. They can even negotiate to have additional late payments or late fees reduced or waived if you miss a payment. The key to making this work is being completely open and honest about your situation and speaking with your credit counselor as soon as you realize your payment will be late.
If you are overwhelmed by debt, you might consider hiring a debt settlement company to help you. Debt settlement companies negotiate payments with each of your creditors. You then pay a monthly sum to the debt settlement company, who distributes your payment among your creditors. By doing this, you can get out of debt faster. Here’s a breakdown of how the companies compare against each other and other debt relief companies.
You'd make the minimum payments on all debts, and pay as much extra as possible toward the $1,000 credit card balance. Once that was paid off, the new "minimum" payment for the card with the $3,000 balance would be $400 (the original $300 minimum plus the $100 minimum you used to make on the card you paid off). Extra cash would also go to repay that card. Finally, once both of those were paid off, you'd focus all your attention on the personal loan. The new "minimum" payment would be $650 ($300 + $250 + $100). 

Gerri Detweiler focuses on helping people understand their credit and debt, and writes about those issues, as well as financial legislation, budgeting, debt recovery and savings strategies. She is also the co-author of Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights, and Reduce Stress: Real-Life Solutions for Solving Your Credit Crisis as well as host of TalkCreditRadio.com.


Our debt counselors must complete intensive financial counseling and become certified by the NFCC. Besides being certified, many of InCharge’s credit counselors have over 10 years of experience as a financial counselor. They’ve helped people through every kind of financial downturn, from losing a loved one to catastrophic illness, to job loss. They can help you too.
Debt settlement companies, also sometimes called "debt relief" or "debt adjusting" companies, often claim they can negotiate with your creditors to reduce the amount you owe. Consider all of your options, including working with a nonprofit credit counselor, and negotiating directly with the creditor or debt collector yourself. Before agreeing to work with a debt settlement company, there are risks that you should consider:

If you're looking for help dealing with high interest rates and difficult-to-manage debt, you may be wondering if debt settlement is a good option for you. Some debt settlement companies advertise that they will negotiate with lenders on your behalf to get your payments reduced. While debt settlement may make it easier for you to pay off your debt, it does have some significant credit consequences.


Once you’ve decided that debt settlement is the right option for you, National Debt Relief asks that you stop paying your creditors (if you can still make payments, you’re not in a financial crisis and the program isn’t right for you) and open a new FDIC-insured account that you will begin depositing money into regularly. The funds collected in this account will only get disbursed once terms of a settlement offer are reached between the creditor and borrower.
The big advantage of the debt snowball is scoring quick wins. Science backs up the idea that this is the best approach, because you'll stay more motivated as you see debt balances paid off. But there's an obvious downside: Your smallest debt may not have the highest interest rate. If you're waiting longer to pay off high-interest debt while focusing on lower-rate debts, you'll pay more interest over time.  
Debt management companies are springing up everywhere. These companies help "manage" your debt by taking one monthly payment from you and distributing the money among your creditors, with whom they've often worked out lower payments and lower interest. This is not a loan as with debt consolidation. Sometimes people get the two confused. However, because Americans are up to their eyeballs in debt, the debt management business has become one of the fastest-growing industries today.
The benefit of going for this type of debt relief option is that your monthly payment will most likely be much lower than the sum of the payments you are currently making. You may also have any penalty charges waived as well as any fees. Most of all, you will no longer be harassed by your creditors as they will be handling everything through the debt management agency.
On the flip side, the Debt Management Plan is designed to be paid off with regular monthly payments over approximately four years (our clients use an automated payment system so their consolidated debt payments are transferred electronically). These timely payments over the course of years have a very positive impact on the client’s payment history, which is the largest factor in calculating one’s FICO score. (That also means, of course, that if a client is late with their Debt Management Plan payments, there will be significant negative impact on his/her score.)
There are four other popular options that you could discuss with your creditors. The first is to have your interest rates reduced. If you have high interest debts of, say, 15% or higher and could get them reduced to maybe 12%, you would end up with much lower monthly payments, which could make it possible for you to meet your obligations. A second option worth discussing would be a timeout period of two or three months during which you would no longer be required to make any payments. This would give you time to get your finances reorganized and to save money that might allow you to catch up on your payments. A third possibility would be to have some or all of your credit card debts converted into repayment programs. You would likely be required to give up your credit cards but in turn you would have fixed payments for a fixed amount of time after which you would be completely debt-free.

Get the answers to the most common questions on credit card bill and debt consolidation. This can be one solution to use, especially when the interest rates are lower. The process can help you decide whether taking the approach of credit card consolidation is right for you as just maybe it can help you in your personal and financial situation. Find a list of questions about credit card consolidation.
In order to qualify for either type of these bankruptcies you will need to show proof that you are simply unable to repay your debts. You will be required to get credit counseling from an agency that has been approved by the U.S. Trustee’s office and this must be within 180 days before you file for bankruptcy. When you complete your counseling the credit-counseling agency will provide you with a certificate of completion and you must file this no later than 15 days after the date of your bankruptcy filing. If you have worked out a repayment plan with the agency you will also be given a copy of it.

A process of negotiation will occur between your debt consolidation agency and your lenders. Many reputable debt agencies will have considerable negotiating power with your lenders and will be able to help you in both the short and long term. There is no guarantee, however, that the negotiation will be successful. Lenders do not have to accept reduced repayments or altered terms.

In the United States, Credit counseling agencies are loosely regulated by the Federal Trade Commission (FTC), the nation’s consumer protection agency, which can sue companies that have deceived consumers about the cost, nature, or benefits of their services.[1] Different states may regulate DMPs individually and Attorneys General are empowered to protect state citizens from fraud.[4] Two professional associations represent Credit counselors: the National Foundation for Credit Counseling and the Association of Independent Consumer Credit Counseling Agencies.[6]


A debt management plan (DMP) is an agreement between a debtor and a creditor that addresses the terms of an outstanding debt.[1] This commonly refers to a personal finance process of individuals addressing high consumer debt. Debt management plans help reduce outstanding, unsecured debts over time to help the debtor regain control of finances. The process can secure a lower overall interest rate, longer repayment terms, or an overall reduction in the debt itself.[2]
How often interest compounds. Compounding occurs when interest is charged and added onto the principal balance. If interest compounds daily, interest is charged every day and added to your principal balance. So, the next day, interest is charged on principal balance that's slightly higher. The more often your interest compounds, the higher your actual interest costs are. If you borrowed $100 at 10% interest and interest compounded daily, you wouldn't owe just owe $110 at the end of the year if you never made a payment. Each day, you'd owe 1/365 of the 10% annual interest. Your daily interest cost would be added to your balance, so you'd be charged daily interest on a slightly higher balance every day. At the end of the year, you'd owe $110.52. 
It is also important to know that National Debt Relief uses a company called Global Client Solutions to manage your payments as a third party processor and trust account servicer.  This company has a history of working with many debt settlement companies who have been sued in the state of Washington and across the country for violating various debt adjusting and consumer protection laws.  Global Client Solutions has also been sued itself on a national level by the Consumer Financial Protection Bureau and in the state of Washington.
Find a good credit counselor. Almost all DMPs are administered by consumer credit counseling agencies--so much so, in fact, that the terms "credit counseling" and "debt management" are often used interchangeably. Thoroughly researching the agency is the most important thing to do before deciding to enroll in their debt management program. The FTC has put together a simple guide to help you get started and choose the right plan.
“Clients who are able to stay with the program and get all their debt settled realize approximate savings of 50% before fees, or 30% including our fees, over 24 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for various reasons, including their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. Read and understand all program materials prior to enrollment, including potential adverse impact on credit rating.”

Consolidating student loan debt can also make it possible to get more borrower protections. For example, while Parent PLUS loans aren't eligible for income-based repayment, when these loans are consolidated under the Direct Loan program, they can become eligible. Income-driven repayment programs can result in a lower monthly payment and open up the door to loan forgiveness after a sufficient number of payments are made. 
Elsewhere in the European Union, regulation and non-regulation of Credit counseling agencies and their approaches, including DMPs, are widely varied. In Sweden, guidelines for credit counseling are loosely provided by the Swedish Confederation of Professional Employees (TCO) and creditors are encouraged to use them in lieu of the court system. In Ireland, the Irish Congress of Trade Unions (ICTU) provides debt resolution information directly to debtors. In Latvia, a debt advisory company called LAKRA works with employers to assist indebted employees.[7]

Went with National Debt Relief. One of my creditors Capital One decided to take me to court and sue me for $8880. Balance at my last payment was $7911. I borrowed $3500 and deposited it in my bank account at National Debt Relief hoping they could reach an agreement and avoid court. I was due in court on Monday. The Friday before court they notified me they had a verbal agreement with Capital One. I was required to take the agreement to court on Monday and have the Capital One Lawyer agree to it and the Judge to sign off and dismiss the case. The agreement was sighed by all parties. National Debt still charged me the full amount of there fees 22%. The agreement was for 70 Cents on the... Read More
Understand the basics of good credit counseling. Many nonprofit credit counseling agencies offer both free and paid services, Kalkowski says. They may offer complimentary consultations, financial literacy workshops or even one-on-one budgeting sessions free of charge. However, if you sign up for a debt management plan, expect to pay for the service. Debt management plans through nonprofits often have a startup fee of $30 to $40 and monthly fees of $20 to $40.
But with the help of her credit counselor, she worked out a plan that got her out of debt in just 3 years. When she saw her credit card balances going down, she knew she made the right decision. With the money she’s saving, she plans to make a great down payment for a brand new car. And she looks forward to not stressing about how she’ll be able to afford the payments.

Throughout all the years I carried this debt around with me, I never wanted to be in debt. But it wasn’t until I met the three criteria above that I was able to do something about it. First, I had to stop living in denial, telling myself my debt “wasn’t that bad.” I needed a reality check and to stare down exactly how much debt I had and what it would take to get out.
Note: I can’t take the space here to list a million business ideas, but I have always found inspiration in the Inc. 5000, a list of the fastest-growing companies in America. My first college internship was with Inc.—my job was to interview the CEOs of these companies to ask about the secrets of their success. It was one of the best experiences of my life. I still think of that list as “5000 ways to make money.”
The top benefit is a reduction in both monthly payment and interest rates. There is the convenience of making only one payment for all your debts. You also receive valuable education materials, including financial tips and reminders for payments due. InCharge clients receive a monthly statement that details payments made to each creditor and a progress reports on how much of the debt has been paid.
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