What help can I have with a debt reduction planner?

Answer by  tamarawilhite (17883)

If behind in payments due to hardship, contact lenders asking for a reduction in fees. Also contact unsecured creditors to request a lower interest rate or else you may default.

Answer by  Threeputt (84)

A good debt reduction planner will make sure that you establish a set of reachable goals, targets that can be completed in a reasonable amount of time. The good plan will make sure you eliminate unnecessary spending in the process, and prioritize elimination of those smaller debts. Picking off the "low-hanging fruit" helps to simplify the process.

Answer by  Roland27 (16334)

They will go over your expenses and help you spend less. If possible they will help you consolidate loans or renegotiate the terms with the lender. Sometimes if you refinance a loan you are able to reduce the interest rate.

Answer by  answerqueen (564)

I would not suggest hiring a debt reduction planner unless you know the validity of their company, and have personal recommendations from their work. Many of these planners charge huge fews and never even help their customer. You'd be better off to work directly with your credit card companies (or whoever holds your debt) and negotiate directly.