In Canada, all debt management companies are bonded. They are very reliable. They are required by law to deposit all money received in a trust account. All their staff are well trained and certified. They have the skills to negotiate with your creditors to eliminate or reduce interest on your debt.

I have a friend who has been on debt management for almost 3 years now. He is very satisfied with their services.

In most debt management program, you are require to pay off your creditors within 5 years.

I don’t know if you are a Canadian or American. Even in the United States, most debt management companies are highly regulated. They are very reliable. If you worry, talk to your local credit bureau.

You’ve recognized you have a problem and that is always the first step. There are certain debt management companies who have been cited for fraud. Be careful who you choose. Look for any complaints filed with the BBB before paying for the services of debt management company. Debt management services can be expensive and may not produce the results you need.

Try the suggestions given at. If you are committed to reducing your debt, you don’t have to spend thousands of dollars to do it.

That doesn’t sound much different from debt consolidation. My advice is never pay someone else to help you pay your bills unless you are filing bankruptcy. You can call the credit card companies and let them know that you are in trouble and need your interest rates lowered. Tell them you are having to consider bankruptcy if you feel it is necessary to get your point across. If a credit card company is willing to work with a debt manager, they should be just as willing to work with you. Just be honest with them and see what they will do. Most people who join debt consolidation or management agencies get into more trouble and end up filing bankruptcy in the long run. My best advice is see what you are able to do on your own first, and if that doesn’t work, set up a free consultation with a bankruptcy attorney. They will give you all of your options with no fee or obligation. Good luck.

I don’t see why not, just be cautious of who or what company handles your finances. Look into it carefully and I don’t see why it wouldn’t be an option.