3 Debt Management Strategies From 4 Pillars

There are many different issues that come up in life that negatively impact the ability to stay current with all types of loans, credits, and payments. When the amount of money coming into the home is less than the amount of debt, the problem can quickly snowball.

Early Recognition of the Problem

The earlier people move to take action on their debt, the more options people have for working with creditors or planning their strategy to get out of debt. The longer creditors wait for payments or the greater the number of defaults on payments, the fewer options that consumers have to avoid foreclosure, repossessions, and serious damage to their credit score.

At 4 Pillars, our debt consultants work one-on-one with consumers in the area to explore options and evaluate the possibilities of resolving debt problems. We also provide ongoing education for our clients, including providing effective debt management strategies that can be implemented immediately.

How to Successfully Manage Debt

Each individual receives a customized solution for debt management from 4 Pillars. Three possible solutions for moving forward include:

• • Monitor your credit reports – errors on credit reports are not uncommon, but they can be costly. Be sure to review your credit report from Equifax and TransUnion on annual basis and dispute any errors or discrepancies on your report.
• • Minimize the number of credit cards – the more credit cards people use, the higher their level of credit card debt. Paying off credit cards and then closing the accounts will have a slight negative impact on your credit score. However, the resulting benefits from more effective management of one card are signficant.
• • Get help – this is where 4 Pillars comes in. We offer support to anyone in the Victoria area who needs assistance with debt.

Take advantage of our free consultation calls and speak with a debt consultant today. Call our team at 866-690-3328.