Care One Credit are a debt management company with a difference. Often organizations in this industry get a bad press, however this is largely because people do not really understand what is going on.
Before taking up any of the services that are offered by a company in this area, it is very important that you understand exactly what the service being offered can do and how it will affect you. That is it's pro and cons if you like.
This is where Care One Credit comes into it's own because it provides a complete consultation to potential clients where they explain the options in full.
The services take one of several forms and you can consider either a debt management plan or a debt settlement plan.
A debt management plan is similar to a consolidation loan where money is borrowed to pay off what is owed in full.
This means that there is only one payment per month and that the previous monthly payments could be reduced by 60%. This type of loan differs from a normal consolidation loan because it is unsecured, so you don't need to risk equity in your home or another asset to qualify.
A settlement plan involves Care One negotiating with creditors to arrange a straight discount in debt. This can have the effect of reducing the amount owed by 70%. It's for people who want to repay but are just not in a situation to be able to do so.
The best way to find out what solution will be right for you is through a consultation with Care One Credit.
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