What are Debt Management Services?
Debt Management Services are programs furnished by financial institutions and professionals available to eligible debtors; a ‘debtor’ – in this instance, is an individual or entity in possession of monies and assets whose value does not exceed the gross value of their respective debt. Debt Management
Services range not only in pricing and cost, but also the standards, conditions, and terms latent within the initial agreement upon undertaking these services; the following examples of the classification of Debt Management Services may exist with regard to your individual circumstances:
What are Mortgage Debt Management Services?
Mortgages – defined as secured loans are furnished to recipients, both private and commercial in nature in order to allow them to obtain real property whose sales price exceeds the amount of capital in their possession. In the event of a defaulted mortgage, this type of secured loan may become secured debts in the event that the individual in possession of a mortgage fails to repay or satisfy the mortgage in question:
A mortgage debt management company may assist individual debtors in the construction of debt relief plans, debt resolution, or mortgage debt restructuring
Mortgage Debt Management Services may provide for debt settlement options, which allow an individual debtor to undertake short-sales or repayment plans structured in order to allow these debtors to achieve debt relief
What are Bankruptcy Debt Management Services?
Bankruptcy occurs in the event that individual debtors –ranging from commercial to private in nature – find themselves in a state of financial insolubility. Upon undertaking Debt Management Services may provide terms and conditions in order to assist an individual debtor through the legal process of filing a bankruptcy claim; Bankruptcy Debt Management Services may specialize in the analysis of individual circumstances within which the choice to file for bankruptcy – or avoid filing for bankruptcy – is the most sensible option for the client.
Government Debt Management Services
The following methodology may be implemented in the event that you choose to undertake Debt Management Services furnished or mandated by the presiding, jurisdictional governmental body:
The standard repayment plan furnished through a government-sponsored Debt Management Services program provides for a standardized payment required for furnishing on a monthly basis on behalf of the individual debtor concerning the lending institution
The extended repayment plan furnished through a government-sponsored Debt Management Services allows for an extension of the repayment period concerning the life of the loan itself the time of the loan, which typically results in the lessening of the required, scheduled repayment amount
The graduated repayment plan furnished through a government-sponsored Debt Management Services provides for a variable repayment amount with regard to life of a defaulted loan
A prorated repayment plan furnished through a government-sponsored Debt Management Services allows for debtors wages, earning, and income to serve as a determinant factor with regard to the establishment of repayment amounts