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What is Debt Schedule?
The System
Debt schedule is a system designed to promote the elimination of personal debt in a consistent and less stressful manner. This system is designed for those who are looking for a simple monthly schedule which organizes the debt and suggests each payment. Which aids in getting you out of debt as soon as possible. It also can be extended to monthly follow-up and mentorship for those who would like a more indepth understanding of debt and a healthy financial lifestyle. Each schedule is designed to meet the goals of the participant. It can include all debt or just partial debt.
The system is based on the accounting process called “snowballing”. This helps you track your progress toward the things that matter most to you, allowing you to have a plan to achieve them.
Uniqueness
Debt Schedule is a financial plan for debt reduction. It allows clients to develop a savings/ contribution account while achieving debt freedom. How does this work? The schedule lists all debts with their balances and payment amounts to be paid each month. At the payoff of the first debt, the savings and contribution accounts can be established by the client at their financial institution.
Payments to these accounts will be scheduled on a monthly basis. All funds and accounts remain in the control of the client. Our service does not seek to discharge the responsibilities of our clients through bankruptcy, debt restructuring, or any other undesirable measures. Our services simply allow our clients to gain control of their current financial commitments while establishing a high quality of life. All costs are upfront.
Who can benefit most from our services?
Debt schedule is for those who need a simple, step by step financial plan, but cannot afford the costly services of a financial planner. The schedule is beneficial for individuals who: need a simple plan to become debt free, desire to lighten their current financial commitments, live paycheck to paycheck, or want to start a savings plan it also serves as an initial step for individuals who are deep in debt and feel helpless.
What is involved?
To begin the process, the client need only submit a list of debts to be considered along with their chosen service option and payment (it is not necessary to include interest rates). Using the DS Submittal form allows us to see if this program is a good fit for you. Before any decision is made or money is spent we offer a free consultation to explain the process, and see if we can be helpful. If our services are not compatible with your goals, we gladly suggest utilizing other avenues that may be helpful to fit your needs.
What Debt Schedule is not
It is not a debt consolidation program
Debt consolidation is the practice of combining multiple debt payments into one monthly payment. Think of it as rearranging your finances: rather than keeping track of multiple bills and payments, debt consolidation allows you to put all of your debts in one place with one simpler monthly payment.
It is not a reconstruction program
Debt Restructuring is the practice of negotiating with current creditors to change the terms of debts, interest rates, repayment periods, or the amount owed.