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Debt management can be approached individually or with professional help. On your own, you can create a budget, communicate with creditors to negotiate better terms, or consolidate debts, though this might involve high interest rates. With assistance, credit counseling provides guidance and repayment plans, while debt settlement involves negotiating lower payments but can be risky; bankruptcy should only be considered as a last resort.

Khan Academy is a nonprofit organization with the mission of providing a free, world-class education for anyone, anywhere. We offer quizzes, questions, instructional videos, and articles on a range of academic subjects, including math, biology, chemistry, physics, history, economics, finance, grammar, preschool learning, and more. We provide teachers with tools and data so they can help their students develop the skills, habits, and mindsets for success in school and beyond. Khan Academy has been translated into dozens of languages, and 15 million people around the globe learn on Khan Academy every month. As a 501(c)(3) nonprofit organization, we would love your help!

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Clearing debts can be difficult, which is when you may find yourself resorting to a debt management plan. But the trouble is that a debt management plan can also affect your mortgage choices. Read on to learn all about getting a mortgage with the debt management plan and what to consider when applying for one.

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Please reach out to our mortgage advisors for any more queries.

“As a mortgage is secured against your home/property, it could be repossessed if you do not keep up the mortgage repayments”.

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Looking for debt relief but not sure how it works? You’ve come to the right place! Christian Credit Counselors is a non-profit Credit Counseling and Debt Management organization. For the last 24 years we have helped over 300,000 Americans to get out of debt. Our mission is to help you determine what the right solution is for your specific situation.

With the total credit card debt amount rapidly approaching $1.2 trillion, many consumers are struggling to make ends meet. According to LendingTree, the average household in the United States owes $7,236 – a 38% increase from 2021. The average interest rate on credit cards currently is an ugly 24.26%. When you connect these stats with the fact that millions of Americans pay only the minimum payments each month, climbing out of debt seems nearly impossible for some in 2025. At least trying to do so on your own is.

Luckily, benefits like lower monthly payments and lower interest rates are available through Debt Management Programs. And thanks to record breaking savings at DebtWave in 2024, these benefits make it possible to achieve financial freedom.

Debt Management Plan Payment Reduction
Clients that enrolled onto DebtWave’s Debt Management Program (DMP) in 2024 merited an average payment reduction of $220. The average minimum payment plummeted from $915 to $695. This shatters the previous year’s record of a $193 payment reduction.

A big factor that made these savings possible are the attractive concessions offered by the credit card companies. In 2021, creditors wanted about 2.71% of the balance as the monthly payment to enter a DMP. In 2024, that percentage decreased to 2.54%. Additionally, payments on own increased from 2021 to 2024. Creditors required about 3.15% of the balance when making payments on their own in 2021. That percentage increased to 3.35% in 2024.

Credit card companies have been generous with interest rates on DMPs as well. In 2020, the average interest rate obtained on the DMP was 8.2%. In 2024, the average APR dropped to 6.8%, setting a new record at DebtWave. As payments on own increased in 2024, so did the interest rates on own. The average APR per client on own in 2024 peaked at 23%.

Average Debt Per Client Enrolled
The average balance enrolled per client soared in in the last two years. Another record high established in 2024 with the average surpassing $27,000. This is nearly double the amount of $15,799 in 2022.

When you combine the payment savings and the monthly finance charge savings, you have clients making significant progress to their principal balance. From 2020-2022, the average total combined monthly savings was less than $300. In 2024, the monthly savings nearly doubled to $596.

We expect and hope these incredible concessions to continue in 2025. For those facing high balances on their credit cards and experiencing a financial hardship, help is available. Taking the first step toward financial freedom is the most important step to take. Find more information about credit counseling and our program or get started online.

?To schedule a free consultation with a nonprofit credit counselor, take our quick screener at https://link.upsolve.org/dmpHelp ?

???? Upsolve is the internet’s leading nonprofit source of financial literacy education. Nearly 3 million Americans visit Upsolve.org each year. Our services are 100% free. Here’s how we do it: https://bit.ly/howitsfree

? Debt Management Plan = All eligible debts pulled into a 3-5 year repayment plan.
? Plan is overseen by a credit counselor.

?? DMP can hurt your credit score in the short term, especially if you have a strong score when you start the DMP.
?? DMP can save you money over time by lowering your interest rates (and potentially getting fees waived).
?? DMP streamlines your monthly debt repayment which can make it easier to stay on track.

?Questions? Let us know in the comments!

Welcome to the GoMortgage YouTube Community! ????????

Join us on a journey through the realm of mortgages, home buying, and financial savvy. Whether you’re a first-time homebuyer, a seasoned homeowner, or simply curious about mortgage intricacies, our succinct videos offer something for everyone.

From expert advice to market insights, we’re dedicated to demystifying the mortgage process and equipping you to make informed choices.

Don’t forget to subscribe, like, and hit the notification bell to stay in the loop with our latest mortgage-focused content.

Let’s turn your dreams of homeownership into reality, one video at a time! ?????
Our services include:

First-Time Buyers
Home Movers
Remortgage
Buy to Lets
Shared Ownership
Right to Buy
Right to Acquire
Concessionary Purchase
Adverse Credit
Bad Credit
No Deposit Mortgages
Life Insurance
Critical Illness Insurance
Income Protection Insurance
Buildings and Contents Insurance
Secured Loans
Bridging Loans
Wills
And much more………
Visit the new website at www.gomortgage.co.uk

Join the community in the Facebook Group – Mortgage Advice, Help, Hints and Tips UK – https://www.facebook.com/groups/1065188270693768

Follow us on:

Chris’s Facebook – https://www.facebook.com/ChrisDaysMortgages
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Join this channel to get access to perks – https://www.youtube.com/@gomortgage

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Office : 01253 935 050
Email. : chris.days@gomortgage.co.uk

Credit counselling is more than just managing debt—it’s about building a healthier financial future. ????

At 4 Pillars, we provide personalized plans to reduce your debt, improve money management, and boost your credit score. Let’s work together to help you regain control of your finances.

Contact us today for a free consultation!
???? https://getdebtfreecanada.com/contact-us/

The Truth About Debt Management and Credit Scores #moneyhabits #money #budgeting2024

???? PLEASE SUBSCRIBE to My Couple’s Channel,
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???? ABOUT ME:

People ask me this a lot: What do I do for a living? Here’s the answer..I’m a magician. I am. For me, money grows on trees and is as abundant as raindrops falling from heaven. Yup…that’s it, heaven grants me my wishes and my heart’s desires simply because it is law. For real…all sacred texts say so…so why wouldn’t YOU believe it to be true?

But in layman’s terms, I am a computer software engineer by day and a landlord of sorts. I also create Youtube content and these things are the bulk of my income.
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???? BOOKS I WROTE:

You can order autographed books directly from me using Cash.App or PayPal (all books are also available on amazon)

All Black Girls Ain’t Got Rhythm: $7
Holler at the Moon: $11

Price includes shipping and handling

My Cash.App: $TineshaDavis3
Paypal: TineshaDavis@gmail.com

Send me an email with your mailing address and instructions on to whom you’d want it autographed.
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???? The following books are available on Amazon:

A Course in Gratitude by Tinesha Davis, Querin Hamilton and Ashley Williams aka Violet Grace Link: http://a.co/2dITKNb
Holler at the Moon by Tinesha Davis Link: http://a.co/h2B3JJX
All Black Girls Ain’t Got Rhythm by Tinesha Davis Link: http://a.co/2QHupmZ
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P.O. Box Address:
Tinesha Davis
PO Box 220312
Chantilly, VA 20153-0312

Email: TineshaDavis@gmail.com
Instagram: Tinesha_Davis

?See if you qualify to use our free debt relief tools: https://link.upsolve.org/BestDebtReliefOptionsForYou ?

???? Upsolve is the internet’s leading nonprofit source of financial literacy education. Nearly 3 million Americans visit Upsolve.org each year. Our services are 100% free. Here’s how we do it: https://bit.ly/howitsfree

Debt Management Plan = All eligible debts pulled into a 3-5 year repayment plan. Plan is overseen by a credit counselor.

Facing financial difficulties? Before choosing bankruptcy, learn about our debt management approach. We assess expenses, reduce interest rates, and guide you towards a debt-free future. Watch now to understand the benefits and consult with our experts.

For more information on ACCC, visit us at visit https://www.consumercredit.com/debt-help/?ODSource=YouTube or call 866-206-5450.

#DebtFreeJourney #FinancialGuidance