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How Does a Debt Consolidation Program Work?

Titan Consulting

Debt consolidation might include a debt management repayment plan, credit card balance transfer, personal loan, or equity line of credit. The main strategy in any debt consolidation strategy involves replacing one debt with another debt, usually with a lower interest rate or monthly payment.

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Can I File Bankruptcy on Just My Credit Cards?

Sawin & Shea

Credit card debt is a huge reason people end up filing for bankruptcy. Many cardholders unable to pay their debt wind up filing for bankruptcy which may be a good answer to big financial problems. Many cardholders unable to pay their debt wind up filing for bankruptcy which may be a good answer to big financial problems.

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FAQs About Debt Management Plans

Debt Guru

A debt management plan (DMP) is an agreement between a debtor (that’s you, the person in debt) and a creditor (think: your bank or your credit card company) that tackles your outstanding debt. If you’re feeling buried under the weight of multiple debts, a DMP might be the solution to escape the crush.