Combine Qualifying Bills Into One Lower Monthly Payment
- See your qualifying accounts
- Compare best options
- Request one lower monthly payment
- Avoid bankruptcy
These are uncertain times for everyone. We have a message of hope for you, your family and your neighbors. We're committed to guide and support you. We believe there's no place for passing judgment, only lifting each other up as we work together to remove the burden of financial difficulties. Together we are stronger.
Account Resolution Plans (ARP) are providing a vital lifeline for North Carolina residents who are struggling to keep up with minimum payments, those who have fallen behind, or those who are being forced to use credit cards or personal loans to take care of personal or business expenses.
Most of these accounts are eligible: credit cards, store cards, medical bills, personal loans, and other unsecured debts not backed by collateral.
These resolution plans are designed to combine all qualifying accounts into one lower monthly payment so you can resolve financial burdens faster without declaring bankruptcy. This could immediately provide much-needed breathing room for you each month.
NorthCarolinaDebtRelief.org is a free resource where residents may find help through free do-it-yourself tools. In addition, residents may request a free evaluation and savings analysis to find out which of their bills are eligible for assistance.
Debt consolidation is an option that allows individuals to combine or "consolidate" multiple higher-interest credit card, or other unsecured debts (such as medical bills, store or gas cards) into a single, more affordable payment each month. Typically, debt consolidation programs are coordinated by debt counselors who customize a "debt management plan" providing consumers with a proven and predictable path to get out of debt.
If you have multiple credit cards and other unsecured debts like medical bills, doctor bills, store cards, unsecured personal loans, and more – a debt consolidation program coordinated through a debt counselor may be the ideal option to help you live within a set budget, reduce debts, and get on a path to become debt-free.
How do debt consolidation programs, or debt management plans work?
Typically, debt consolidation programs are coordinated by debt specialists, or debt counselors, who conduct brief interviews with you to get details on your credit cards and other debts, as well as how much you can realistically afford to pay each month to get out of debt.
Based on this information, your debt specialist will then customize a "debt management plan" for you. Once you approve the plan, letters will be sent on your behalf to each of your creditors requesting benefits – such as lower interest rates, a waiving of late fees and penalties, and generally more favorable repayment terms. Those creditors who accept the proposals are then added to the debt consolidation or debt management program. For those that do not accept debt proposals, you are still obligated to live up to the original terms of your cardholder agreement.
It's important to understand that, just as no two debt situations are exactly alike, no single debt solution is right for everyone. Your debt specialist can provide more details regarding debt consolidation or debt management as part of your free analysis and savings estimate.