Stef ([info]stefestella) wrote in [info]debtproofliving,

Debt Management - Holding Off on a New Plan

Until just now, I thought this post I made yesterday got posted here in the community. However, I have come to a decision with regards to it and thought I'd go ahead and post it here.

1 - Saving the $35/month of administrative costs for the debt management company might cost me more in the long run with the three credit card companies, seeing I am doing this on my own again, possibly taking advantage of the situation to raise a minimum amount due or finance charge, requiring me to have to call in myself to fight for something lower.
2 - Once my budget is stable again in a couple of months (after my move and related expenses are complete) I can go back to having an automatic draft each month for this amount rather than having the hassle of paying three extra bills on my own.
3 - I discovered in a call to the company today that they now do weekly drafts to the accounts that I owe, so even if I'm a little late, the accounts are still paid from the money they have collected from me instead of my having to deal with three different due dates.

In short, the best option for the next few months is to stay with the plan. It will be several months, perhaps even a year, before the next of the three accounts is paid in full. At that time, I will evaluate once more if I should pull out of the Debt Management Plan service or stick it out a little while longer.

  • Post a new comment

    Error

    Anonymous comments are disabled in this journal

    Your reply will be screened

    Your IP address will be recorded 

  • 0 comments
Create an Account
Forgot your login or password?
Facebook Twitter More login options
English • Español • Deutsch • Русский…