Experiencing financial difficulty?

Consider a First Financial debt management plan before settling!

If you’re navigating credit card payments and other debt, it’s helpful to consider the best approach for your situation. 

Think twice before deciding

⊗ Debt Settlement

• Debt settlement companies charge 15 to 25 percent of your enrolled debt.
• Debt settlement companies cannot guarantee your debt reduction.
• You send all payments to the debt settler and not the creditor. These payments are held until enough accumulates to make an offer to the creditor. In the meantime, your credit score may be impacted due to missed payments to the creditor.
• Settlement negotiation could take months, even years jeopardizing your credit.
• Forgiven debt may be considered taxable income so you need to check with your tax professional.
• Your account with the creditor may be charged off if left unpaid for so long and may incur additional fees if forwarded for litigation or suit.

✔ Debt Management

• The cost to participate in a Debt Management Plan from a debt management company may be lower than a debt settlement company.
• Debt management companies negotiate payment plans to pay off your debt in a specified timeframe. These companies request concessions from creditors, which may help pay off your debt faster.
• Debt management companies immediately pay creditors upon receiving automatic deposits from your paycheck.
• Debt management companies work with creditors to modify your loan upon agreement and may provide you a fresh start in repayment.
• You will work with a financial counselor that considers all of your financial health and debt.
• With successful completion, you can maintain a record of good standing with your creditors.

Take advantage of special member benefits by enrolling in a debt management plan with our partner, Greenpath Financial Wellness.