The Bankruptcy Company (TBC) Videos

Debt Management

Video Transcription>

Some people find debt management programs helpful, but you have to be really careful in choosing one. There are a lot of organizations that will charge you a large fee and make a lot of promises, but in actuality they are doing very little to help you. Be sure to check these kinds of organizations out with the Better Business Bureau before you hire them.

In general, debt management programs may help people who have a small total amount of debt, or who have debts that don’t accrue interest, like medical bills for example.

But they are rarely helpful to people who are behind on their house or their car payments, or who have a large amount of credit card debt. In fact, sometimes these debt management companies actually make the situation worse. We frequently see people in our offices who have paid significant fees to debt management companies, but their debts were not settled fast enough. The client ended up getting sued by one or more of their creditors, and came to us to stop the lawsuit and either reorganize or greatly reduce their debt so that their financial situation could become manageable again.

Just give TBC a call – we’ll be glad to set up a free consultation to review all of your options with you.