Wednesday, February 22, 2012
Debt Management
Debt Management is a unique strategy that helps you repay your debt and get it under control, by analyzing spending habits and finances and coming up with a way to productively manage your debt and get it under control. Without Debt Management you can never fully understand how or why things happen with your finances.
By using SFG, you will receive ongoing support, have someone to answer your questions, and provide you with the necessary tools to succeed.
Most companies that offer Debt Management can actually hurt you. They collect your money and pay your bills, without teaching you anything. They also collect your money, take out their fees first and let the money build up to pay your bills, thus causing you to have late pays on your credit report. Creditors also report that you are going through some type of counseling to the credit agencies hurting your score.
SFG, on the other hand take a hands on educational approach where we teach you the process and you pay your bills, therefore there is no reporting to the credit companies.
The first part of the process is the Analysis Phase. In this phase we have you complete 3 forms:
These play an important role in debt management. For example, you make $3000 per month and every month you never seem to have enough money to cover your debt load. The technical term for this is Debt-to-Income or DTI. A very high DTI will prove to be very costly in the long run, causing you to pay higher interest rates or receiving denials for a new mortgage or auto loan.
They also help us get to the second part of the process, which is the Planning Phase. In the planning phase, we take what we have analyzed and help you set up a new budget, and make recommendations to any problems that were presented. You get a full plan of action to fix your debt, as well as keep it under control. This can be done in a few different ways:
The last step is the Action Phase, which is your part (with our help of course). You get 12 months of support. We review your situation every 30 days for the first 3 months, and then every 90 days for the remaining months. We are also available to answer any questions you have, or if you need any additional help.
Also remember, you are very important to us. We feel each person deserves the best possible service; therefore we do not look at each circumstance as being the same. As with individuals, each debt is different and should be treated differently.
Start your individualized program today to get your Debt under control.
Click Here to fill out our application.
