Debt Management

Debt Management programs also known as credit counseling are usually offered by non-profit credit counseling agencies. They help consumers renegotiate better interest rates with their creditors. The issue is that these negotiations aren't free (since the debt management company does charge) and they are not always the most impactful to a consumers bottom line.

In comparison to working with a debt relief company, there are less negative impacts to your credit score but you definitely won't save as much money as you would with a debt settlement option.