Get a Clearer Plan for Your Credit Card Debt
High interest rates and minimum payments can make credit card debt feel difficult to escape. A free DebtWave credit counseling session can help you understand where you stand, compare repayment options and determine whether a Debt Management Program may make your debt easier to repay.
You do not need to be behind on your payments to ask for help. In fact, reviewing your options while your accounts are still current may give you more flexibility.
Request Your Free Credit Card Debt Review
Tell us a little about your credit card debt and current payment status. DebtWave can help you review your situation, understand your options and determine what next steps may make sense.
Start With Your Credit Card Debt — Not Another Loan
You do not have to know which debt solution is right before contacting DebtWave. Start by telling us approximately how much credit card debt you have and whether your accounts are current or past due.
Afterward, a counselor can help you review your balances, interest rates, payments, income and household expenses. You can then compare your existing repayment strategy with alternatives that may better fit your financial situation.
Getting Help With Credit Card Debt Is Simple
The goal is to understand your complete financial situation before deciding which repayment strategy makes sense.
Tell Us About Your Debt
Start with your approximate credit card balances and payment status. A counselor can gather more detailed information during your financial review.
Review Your Financial Situation
Discuss your income, expenses, credit card payments, interest rates and financial goals with a credit counselor.
Compare Your Options
Review strategies that may include paying the debt yourself, creditor hardship programs, consolidation or a Debt Management Program.
You Don't Have to Wait Until You're Behind
Many consumers contact DebtWave while their credit card accounts are still current. High interest rates can make balances difficult to reduce even when every payment arrives on time. The Consumer Financial Protection Bureau explains that nonprofit credit counselors can help consumers review their debts, develop a budget and consider a Debt Management Plan when appropriate.
Likewise, several minimum payments can consume a large portion of the monthly budget. Credit counseling can help you see whether your current repayment strategy is actually moving you toward becoming debt-free.
A counselor can also help you determine whether a more structured repayment option deserves consideration.
Learn More About Free Credit Counseling →Could a Debt Management Program Help?
A Debt Management Program, or DMP, may be an option when high-interest unsecured debts have become difficult to repay under their existing terms.
Potentially Lower Interest Rates
Participating creditors may offer reduced interest rates or other concessions under their current guidelines.
One Program Payment
Qualifying clients generally make one scheduled DMP payment for accounts participating in the program.
A Structured Payoff Plan
Unlike a new consolidation loan, a traditional DMP focuses on repaying enrolled creditor balances through an organized repayment schedule.
Estimate Your Debt Management Payment and APR
Want to see how a Debt Management Program might compare with your current credit card payments?
Use DebtWave's free DMP calculator to enter your creditors, balances, current APRs and payments. The calculator can provide estimated DMP payments, APRs and potential monthly savings.
Calculate My Potential Payment & APRSigns Your Credit Card Debt May Need a New Strategy
You do not need to experience every warning sign before speaking with a counselor. Getting information earlier can help you understand your choices before the situation becomes more difficult.
Credit Counseling Is Different From Taking Out Another Loan
| Feature | Debt Management Program | Debt Consolidation Loan |
|---|---|---|
| New loan required? | No | Yes |
| Credit score required to explore option? | No | Usually considered by lender |
| May reduce creditor interest rates? | Potentially | Depends on loan terms |
| One scheduled payment? | Yes, for participating accounts | Yes |
| Includes credit counseling? | Yes | No |
Frequently Asked Questions About Getting Credit Card Debt Help
Do I have to be behind on my credit cards before contacting DebtWave?
No. You can speak with a credit counselor while your accounts are current. In fact, reviewing your options before missing payments may give you more time to determine which repayment strategy fits your situation.
Is the initial credit counseling session free?
Yes. DebtWave provides a free initial credit counseling session so you can review your debt, budget and repayment options. Speaking with a counselor does not require you to enroll in a Debt Management Program.
Does getting credit counseling require a new loan?
No. Credit counseling does not require you to borrow money. Likewise, a traditional Debt Management Program is not a consolidation loan.
What information should I have available?
Recent credit card statements are helpful because they show your balances, APRs and minimum payments. Additionally, having a general idea of your monthly income and household expenses can make the review more useful.
Can DebtWave review more than one credit card?
Yes. A full credit counseling session can review multiple creditors together so you can understand how all of your debt payments affect your monthly budget.
Do I have to enroll in a Debt Management Program?
No. A counselor can explain available options, but the decision about what to do next is yours. There is no obligation to enroll simply because you requested a financial review.
Get Help With Credit Card Debt Today
You don't have to borrow more money just to understand your options. Start with a free review of your credit card debt, monthly payments and overall financial situation.