Is bill consolidation through a debt management program free? If you work with a nonprofit organization, like In Charge Debt Solutions, you will pay a set-up fee (on average, ) and a monthly fee to maintain it (average ).It’s important when you consider debt relief solutions that you compare interest rates and fees.
You may be tempted to continue using your cards and could wind up doubling your debt.
If you are juggling multiple credit card bills, you may benefit from the convenience of having one consolidated monthly payment.
Consider all of the bills that the modern household pays (mortgage/rent, utilities, cell phone, cable, internet, etc.).
Consolidated credit companies, like credit counseling agencies, usually point consumers at debt-relief options like a debt management program, debt settlement, a debt consolidation loan and, in extreme situations, bankruptcy.
With credit consolidation, you take out a new loan and use it to pay off smaller loans.