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Are you struggling with debt or a difficult financial situation? Debt management companies help individuals like you find an efficient solution to their debts and other financial challenges. At UmbrellaDEBT, we understand that each individual has a unique financial situation. We offer you various debt management options to help pay off your debts. This often ranges from debt consolidation to debt relief programs, and many more. Anytime you are in a difficult financial situation and considering bankruptcy, our debt management solutions remain the ideal option for you.

What Do Debt Management Companies Do?

Are you struggling to make repayments for outstanding debt on credit cards, medical bills, and other types of finance like payday loans? If you are, you might need the service of a debt management company.

Also, these companies help in creating a plan and agreement that ensures an affordable way of repaying one’s outstanding debt. They exist to be able to help make the process of paying back loans and managing debts easier. They are also known as debt consolidation companies.  Below are some of the various things debt management companies do:

They Counsel: The primary aim of any debt management company is to help make debtors' repayment easier.  But before they can do that, they can offer counsel service to ascertain a debtor’s financial position and capabilities. They will calculate with debtors all their essential expenditures like food, rent, and utility bills. By doing this, it gives them the opportunity to know how much a debtor can really afford to pay each month without being strained. Then you pay back the debt management company an agreed amount each month.

Consolidate Debts: Sometimes, paying debts can be tiring, especially if they are from many creditors. These companies basically can take on these debts and consolidate them. Consolidate in the sense that, the debt management company pays these debts with the creditors on your behalf. Then you pay back the debt management company an agreed amount each month instead of paying to different creditors.

Negotiate Debts: When repayment gets difficult, a debt management company can negotiate a deal with creditors so that interest is reduced or frozen in such a way that it makes repayments easier. Debt management companies may also be able to get your creditors to eliminate future late fees that might be incurred as creditors adjust your payment schedule. This saving you from having difficulties in making repayments.

Debt Settlement: It may sound funny, but if a debtor’s financial status has been really dealt a blow, debt management companies can also help achieve a debt settlement. With debt settlement, one will be paying for a reduced amount while the rest of the debt is forgiven.

Get In Touch With Us Today!

If you want to know more about our debt management solutions and debt relief options, call us today at UmbrellaDEBT. Our trusted team will be available to speak with you. We will provide suitable answers to your inquiries and concerns. Also, we will offer you a customized debt management solution that fits your needs perfectly. You can look forward to a fantastic experience.

200 W Palmetto Park Road Suite 202, Boca Raton, FL 33432

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