Things You Should Know Before Opting For Debt Management Plans

1
Things You Should Know Before Opting For Debt
Management Plans
2

• About Us

• We at Credit 720 work for you in a similar way
  just as your Tax Consultant or Accountant. You
  hire our expert advice in debt negotiations as we
  help protecting your assets and safeguarding your
  rights as our esteemed client.
• At Credit720, our goal is to protect your best
  self-interest and not the creditors. Debt
  Consolidation, Consumer Proposal - Calgary
  Edmonton Region.

3

• How Things You Should Know Before Opting For Debt
  Management Plans

• Debt management is one type of way which helps to
  keep the bills. Debt management plans work as an
  agreement between you and also your creditor.
  There are a lot of debt management
  services and personal debt counselling
  services that can help you with debt
  management. A debt management plan helps you when
  you are unable to make payments on the allocated
  time frame. Below are some points mentioned which
  can help you before you opt for debt management
  plans

4

• 1. Eligibility of Getting A DMP
• After you are approved of DMP it majorly depends
  on the items which are disposable income other
  than the amount of debt you own. You should have
  a disposable income so that the monthly payments
  are reduced, you should also have the disposable
  amount that could help you pay the debt within
  six months.
• 2. DMP Work Style
• First of all, you should know DMPs are not
  legally binding so they can be called off by
  either you or your creditor. You should find
  a debt management services provider who would
  help you find a creditor, deal with them, give
  you advice.

5

• 3. Duration of DMPs
• The time duration given to you by your creditor
  to wave off your debts can vary from case to
  case. Bad credit help is needed for you to afford
  and pay off your debts each month at the
  designated time slot.
• 4. Effects of DMP on Credit Score
• As you may know that your credit score reflects
  your chances of getting approved. If your credit
  score is higher then so being your chances.
  Lenders do a calculation of what your score is
  and accordingly let you apply for credit and with
  that all the required information which is needed
  by them.

6

• 5. Duration of DMP on Credit File
• The debts you have would reflect on your file for
  about six years which starts from the day it is
  paid or it has defaulted. DMP would lend a
  helping hand in paying off your debts but at a
  slower pace.
• Conclusion
• Debt is like any other trap, easy enough to get
  into, but hard enough to get out of. We know
  this quote by Henry Wheeler Shaw very well and to
  get you out of your due payments Credit720 would
  help you pay off your debts through effective
  personal debt counselling services.

7
Contact Us
Red Deer 924, 4747 67th St,Red Deer AB, T4N
6H3Telephone [phone]Fax (780)
666-9721Email info_at_credit720.ca Edmonton
South 9856A 33 Ave NW, Edmonton AB T6N
1C6 Telephone [phone] Fax (780)
666-9721 Email info_at_credit720.ca
Edmonton North 203, 12930 50 St, Edmonton, AB T5A
4L2 Phone [phone] Email info_at_credit720.ca
Lloydminster(Alberta Saskatchewan) Unit 102,
4802 -50th Avenue, Lloydminster, AB T9V
0W5 Phone [phone].666.2600 Email
info_at_credit720.ca
http//www.credit720.ca