{"id":352533,"date":"2016-04-04T10:42:05","date_gmt":"2016-04-04T15:42:05","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/consumer\/credit-banking-finance\/can-a-debt-relief-provider-help-me-with-debt.html"},"modified":"2024-01-18T23:52:02","modified_gmt":"2024-01-19T04:52:02","slug":"can-a-debt-relief-provider-help-me-with-debt","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/consumer\/credit-banking-finance\/can-a-debt-relief-provider-help-me-with-debt.html","title":{"rendered":"How Can a Debt Relief Provider Help Me With Debt?"},"content":{"rendered":"\n
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How Can a Debt Relief Provider Help Me With Debt?<\/h1>\n
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\n By FindLaw Staff<\/a> | Legally reviewed by Melissa Bender, Esq.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

High levels of debt can be stressful and difficult to overcome. Proactive consumers can often negotiate repayment terms with lenders<\/a> and debt collectors. This may include reduced monthly payments or extra time. But when your actions come up short, consider a debt relief program that can help you look into your debt relief options.<\/p>\r\n

Third-party debt relief services vary in scope, approach, and integrity. Before choosing a service to help you get out of debt, understand the differences among various credit counseling organizations and debt relief companies. Also, make sure you can identify fraudulent debt relief providers. Fraudulent providers often ask for payment upfront or make promises that sound too good to be true.<\/p>\r\n

Learn more about your debt relief options through FindLaw’s overview of Debt Relief<\/a>.<\/p>\r\n

What Is a Debt Management Program?<\/h2>\r\n

A Debt Management Program (DMP) helps individuals structure a debt management plan. In a DMP, a certified credit counseling agency negotiates with creditors to lower interest rates and debt payments.<\/p>\r\n

They help waive fees and consolidate monthly payments. This simplifies the repayment process. Nonprofit credit counseling agencies often provide DMPs. Enrolling in a DMP is a proactive way to work toward financial stability and become debt-free.<\/p>\r\n

Can a Credit Counseling Agency Help Me With Debt?<\/h2>\r\n

Consumer credit counseling agencies provide a broad range of different credit counseling services. This includes debt management education and direct communication with credit card companies. Many of them are nonprofit. Look for an agency that is licensed and\/or accredited in your state. The Department of Justice maintains a database of approved credit counseling agencies<\/a>.<\/p>\r\n

Once you find an approved credit counseling agency, make sure to take the following actions:<\/p>\r\n