If you owe more than you can afford right now, debt management might lower your payments and maybe even your interest rate, but you will still pay all of the debt back. Why else would you creditors lower their rates? You still have to pay the debt and interest, they just don’t make quite as much money. In debt management, a credit counseling agency can consolidate a bunch of credit cards and other debt into one payment. If your creditors agree, this one payment may even have a reduced interest rate, but the debt still awaits payment. If you were behind on your payments anyway, your credit is already wrecked. Wouldn’t it be great if there was a way to not pay your creditors whether they liked it or not? What if someone with authority told them that they had to let you keep your payments on your car and your house, as well as all of your household and necessary goods, but that all of the other debt was forgiven? Such a system was created hundreds of years ago. It’s called bankruptcy. Don’t let someone talk you into paying them for the privilege of paying your own debt. Haven’t the banks made enough in interest, fees, and penalties already? Get free help with your debt right now.