What is a debt reduction plan?

Answer A debt reduction plan is a method to reduce debt until all bills are paid. This can be done on your own or with professionals who pull up your credit report, negotiate lower interest rates with cre... Read More »

Top Q&A For: What is a debt reduction plan

About Free Debt Reduction?

Many companies offer consumers what they call a free debt-reduction program by consolidating credit card bills and personal loans into one easy monthly payment. While there may be no upfront fee fo... Read More »

Tax Consequences for Debt Reduction?

Negotiating with your creditor to reduce your debt could save you thousands of dollars in interest and debt payments. While this strategy can be beneficial, it could also lead to an unexpected tax ... Read More »

What is the Debt Reduction Act of 2005?

No legislation passed in 2005 called the Debt Reduction Act. A similarly-sounding legislative act, the Deficit Reduction Act of 2005, became law on Feb. 8, 2006. This federal law made changes to Me... Read More »

Free Debt Reduction Plans?

There are a number of plans for reducing debt, and you can manage them all yourself for free. Getting help from agencies almost always results in a fee, including debt reduction plans offered by no... Read More »