Debt Management

Debt is money owed by a borrower to a lender or creditor. Debt is different from an immediate purchase because it is a deferred payment, or series of payments, owed in the future. Examples of common debt include car loans, credit cards, personal loans, and home mortgages.

How can we help? / Debt Management

We are here to help you understand and manage your debt.

It can be easy to qualify for some types of credit, but the resulting debt can become a financial trap. After an unexpected financial emergency, such as a layoff or illness, many families find themselves caught in a cycle of unmanageable debt, unable to make the minimum payments.

We understand that every client’s financial situation is unique. Based on the information provided during your credit counseling session, your certified credit counselor may recommend a debt management plan (DMP).

If a debt management plan (DMP) is right for you, Financial Pathways of the Piedmont, in partnership with Navicore Solutions, will work with your creditors to potentially:

  • lower your monthly payments,
  • lower or waive your interest,
  • stop collection calls,
  • waive late fees, and/or
  • consolidate your debt into an affordable repayment plan.

Need help now? Get in touch.

(336) 896-1191 (local)

1-888-474-8015 (toll free)

info@financialpaths.org

Debt Management Services

Debt management counseling is easy and affordable. Take the first step today.

Explore Options with a Debt Management Plan (DMP)

A debt management plan (DMP) is not the same as a consolidation loan, debt settlement, or forgiveness. A debt management plan is a low-cost viable alternative to bankruptcy in which creditors may reduce payments and reduce or stop interest and fees. This service provides an accelerated way to pay off creditors and become debt free within 48 to 60 months.

DMP’s cannot be used to address secured credit such as car loans or mortgages. There are fees associated with this service.

Debt Management For the Aging Population