Debt management companies

Debt management companies are organizations that help individuals handle their debts by creating structured repayment plans. They work with creditors to negotiate better terms, such as lower interest rates or reduced payments, making it easier for borrowers to pay off what they owe. Typically, the borrower makes a single monthly payment to the debt management company, which then distributes funds to creditors. These companies aim to reduce financial stress and help people regain control over their finances through professional guidance and negotiated agreements.