Debt Management – How To Handle Your Student Loan Debt

For some people, debt management seems like a bad idea. The trouble is that most debt counseling agencies will encourage you to a debt management program as a means of avoiding bankruptcy even if it doesn’t make financial sense for you right now. If you are considering debt relief in Gilbert, you should not consider a debt management program unless you can afford to make your monthly payments without assistance. Bankruptcy should only be used as a last resort when other debt relief options have failed. If you feel comfortable with debt management, you can find debt help in Gilbert by talking to an experienced credit counselor.

In Arizona, debt counseling and debt management plans are not the same thing. Credit counselors working with debt management plans provide credit-counseling services to Arizona residents on a voluntary basis. This means that you can make your monthly payments to the credit counselor will distribute your payment to your creditors according to their agreement. Credit counselors working with debt management plans are not licensed money managers.

When you’re dealing with debt management in Gilbert, you should remember that credit counseling agencies do not offer credit cards, loans, mortgages, vehicles, or any type of tangible personal property. If you are considering credit counseling in Gilbert, you should also remember that credit counselors working with debt management plans do not provide money, either. So if you’re thinking about using credit cards, you should also realize that you won’t be able to get any type of loan until at least three years after you graduate from college. After all, you’ll need some time to build your credit rating back up before you apply for any type of credit card.

If you don’t mind applying for loans, consider looking into debt consolidation help. Debt consolidation help is a great way to combine all of your student loans into one monthly payment. However, if you’re still in school, you may not qualify for this debt relief program.

If credit counseling and debt consolidation doesn’t sound like something you could afford, then you might want to think about bankruptcy. Although bankruptcy isn’t exactly a “good” debt relief method, it can help you get out from under a lot of debt quickly. But you must be aware that bankruptcy will hit your credit rating very badly for about seven years. And even after that period, you’ll have to work hard to restore your credit rating.

Before you make the decision to file for bankruptcy or to use credit counseling or debt consolidation, you should visit with an experienced debt management attorney in your area. A qualified Arizona attorney can help you decide whether debt management is right for you. They will be able to give you professional advice on the best method for you to manage your debt. So make sure to take advantage of this free advice. For more details on credit management visit

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