Welcome to CreativePayment.com - We provide you with different options to reducing, eliminating or settling your debt for less. Use the links contained within this site to find financial service providers who can best provide you with the service you need. Each individuals situtation can vary drastically, that's why its so important that you do the necessary research to find out which plan is right for you.
Debt Consolidation - Debt Consolidation is essentially when you take any outstanding debts (excluding property such as loan on a home or vehicle). Debt Consolidation or Debt Settlement are really only a good option for individuals who are already so far behind in their debts and have almost no ability to pay it back on a reasonable schedule. If you are more than 60 days late on most of your outstanding debts, the majority of the damage has been done to your credit. At this point you should investigate exactly how much (less) you can settle the debt for. A debt consolidation company can quickly provide you with options for a reduced rate of debt.
Debt Management - This type of program is best suited for individuals who are just starting to fall behind on their payments. A debt management plan (DMP) will in most cases reduce interest rates, eliminate fees and late charges and provide you with a budget plan that you can afford. In many cases a DMP will allow you actually reverse some of the damage done to your credit profile.
Again please review the links contained within these pages to find the solution that's right for you.
A good government resource for information is: http://www.ftc.gov/bcp/conline/pubs/credit/kneedeep.shtm
Information Redgarding Credit Reporting and Your Credit Report: http://www.ftc.gov/os/statutes/fdcpajump.shtm
