TCA's Debt Management Program Process
Take Charge America is a Non-Profit Credit Counseling Organization. Our Certified Credit Counselors are available to assist you in finding the best solution for your financial challenges.
Take Charge America has been able to assist thousands of individuals with financial situations just like yours through our financial education, debt management guidance and support. Together we can create a plan to assist you in achieving your financial goals and improve the quality of life for you and your family.
One of the various solutions for your specific financial debt situation is a Debt Management Plan (DMP). When a DMP is the best solution for you there are a few steps involved and some preparation that will make the process go smoothly and some upfront information about how the DMP works that we would like for you to know.
A Debt Management Plan is comprised of restructuring an individual’s household budget to be the most conservative and appropriate use of your finances and reduction of non-essential expenses. You will be provided education on basic principles of financial management, given guidance on management of your debt situation and ongoing consultation and support from a Certified Credit Counselor. The education guidance and support that you will receive is not only during the financial assessment process but ongoing throughout the program that will enable you to make good financial decisions and manage your household budget successfully. Many of the creditors as well will provide concessions and reduced interest rates for participating in a DMP.
We first will begin with a free financial assessment that will be conducted to determine what the best solution is for your specific situation. Together we will fully identify your current budget so that we have a complete picture of your financial situation. From there we will design a new workable budget that will minimize your expenses and maximize your financial resources allowing you to accomplish your financial goals of becoming debt free. A DMP program will generally take four to five years to pay the debt off in full.
In preparation you will want to gather information on your income, monthly living expenses and your total debt amount. After our certified credit counselors have reviewed your financial information and budget they will be able to provide you with education, recommendations and options specific to your individual situation and budget. You will then be on your way to getting your debt paid and your monthly budget under control and manageable.
While on the DMP you will make your debt management payments to Take Charge America and we will disburse those payments appropriately to each of your creditors.
To find out more about TCA and our various debt solutions, contact Take Charge America today and be on your way to financial freedom tomorrow!