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The Benefits and Drawbacks of Using a Debt Management Plan
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[QUOTE="Yusra3, post: 322113, member: 31907"] Debt management plans are a great way to get your financial situation under control, but they come with some drawbacks. The Benefits of Using a Debt Management Plan: 1. You can pay off your debts faster and in less time than you would if you were paying them off on your own. 2. You will have more money left over at the end of each month so that you can spend it however you want. 3. If you do decide to file for bankruptcy, then your debts will be forgiven and all interest accrued during this time will be paid back by the court. The Drawbacks of Using a Debt Management Plan: 1. You may have trouble finding a lender who will approve your application due to past credit issues or bad debt management practices like late payments or missed payments (which could be caused by unemployment). [/QUOTE]
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The Benefits and Drawbacks of Using a Debt Management Plan
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