Yes, another article about the debt snowball and what exactly is account reaging. Well, for one thing, account reaging cannot be accomplished by using a debt snowball to pay down the debt, you can refer to a previous article to see how a debt snowball works. Free Credit Counseling Newsletter.
OK, account reaging is when you are behind on your credit card payments, lets say two full months. The problem is that you cannot catch it up because you can barely afford one months payment at a time. By looking into a personal debt management, debt consolidation program you might very well not onlylower your monthly payments, even with the state mandated fees, but the banks will bring your accounts back to their current status after 3 to 4 payments, just because it is one of thepositive aspects of a debt management program.
The famous debt snowball, can never accomplish this. So what is the net effect and benefit of reaging. Well. for one thing you did not have to come up with many months of payments to catch up, or reage.As soon as you started the program, you only had to pay minimum payments on a new due date that you selected. No penalties, and a new lower monthly payment in which all your creditors get paid every month in a timely manner.
The other nice thing that happens is that the account reaging causes a credit restoration, raising your credit score because you are no longer being reported late to the credit bureaus. Does it get any better than this? All you had to do was get a free quote and see what the new payment would be. In other words just take a single step, and let the counseling experts help you.
Fell free to call or email the author with any questions.
Yours Truly
Steven Ciantro
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