Wilson PonHow to Manage the Debt and Lose Your Stress Away!
June 27th 2009 11:11
Life isn’t easy, as we all need to work and maintain our daily expenses. Hence, we’ll be in deep trouble, especially when you’ve been fired from the previous job in this economic turmoil!
Go figure, once a person had lost his/her job, all the household expenses, such as electricity bills, water bills, house maintenance fees (It applies on those who living in apartment/condominium), utility fees, insurance fees and much more can become a very heavy burden to the person! In this case, some of them will try to lend the money from the illegal lending company and making the situation even worse.
I have a friend, Francis who worked as a debt management planner, has given me a phone call yesterday night. He said that he has been involved in this field for over three years now. During the time, he has already helped different kind of people from different background.
However, majority of them didn’t even know the basic concept of debt management plan, and some of them always misunderstood about the real definition of it!
According to Francis, a debt management plan is one of the methods that have been used in many countries for the debtors to pay off their personal unsecured debts. Normally, it’s an informal arrangement between the debtors and creditors.
Honestly, by preceding the debt management plans, it brings benefits for both parties. In this case, the debtors not only can avoid the bankruptcy, but the creditors can also get more money back!
Francis said that another advantage of using this method is it will not leaving any negative effect to your credit score, where it is the last thing that you don’t want it to happen.
Usually, the debt management plans are involved a third party organization, which they will send a proposal letter to every creditor. Inside the letter, it requests the creditor’s approval, so they’re accepting and approved you into the management plan! Once both of the sides are agreed, a debt management plan is going to carry out immediately.
Honestly, I learned many interesting things from Francis through the phone call. Hopefully, this information is useful to you all as well!
Go figure, once a person had lost his/her job, all the household expenses, such as electricity bills, water bills, house maintenance fees (It applies on those who living in apartment/condominium), utility fees, insurance fees and much more can become a very heavy burden to the person! In this case, some of them will try to lend the money from the illegal lending company and making the situation even worse.
I have a friend, Francis who worked as a debt management planner, has given me a phone call yesterday night. He said that he has been involved in this field for over three years now. During the time, he has already helped different kind of people from different background.
However, majority of them didn’t even know the basic concept of debt management plan, and some of them always misunderstood about the real definition of it!
According to Francis, a debt management plan is one of the methods that have been used in many countries for the debtors to pay off their personal unsecured debts. Normally, it’s an informal arrangement between the debtors and creditors.
Honestly, by preceding the debt management plans, it brings benefits for both parties. In this case, the debtors not only can avoid the bankruptcy, but the creditors can also get more money back!
Francis said that another advantage of using this method is it will not leaving any negative effect to your credit score, where it is the last thing that you don’t want it to happen.
Usually, the debt management plans are involved a third party organization, which they will send a proposal letter to every creditor. Inside the letter, it requests the creditor’s approval, so they’re accepting and approved you into the management plan! Once both of the sides are agreed, a debt management plan is going to carry out immediately.
Honestly, I learned many interesting things from Francis through the phone call. Hopefully, this information is useful to you all as well!
| 38 |
| Vote |
subscribe to this blog
