Golden State Debt Management (GSDM)
is a national nonprofit Consumer Credit Counseling Agency, established to assist individuals and families, of all backgrounds and income levels, to become and remain debt free.
Every year our certified agents help thousands of consumers generate sustainable household budgets and favorable repayment plans to prevent personal debts from being charged-off and sent to collections, or worse, included in bankruptcy proceedings.
A fully implemented Consumer Debt Management Program provides the following benefits:
*Consolidates Unsecured Debt - Consolidates your credit cards, personal loans and other unsecured debts into one monthly payment.
*Lowers Monthly Payments - Reduces the monthly payments on most credit cards, personal loans and other unsecured debts by up to 50%.
*Lowers Interest Rates - Reduces most credit card interest rates to under 10%. Some creditors will reduce the interest rate down to 0%. A few creditors will not reduce the interest rate, but will accept lower payments.
*Stops Late and Over-limit Fees - Stops late and over-the-limit fees on
credit cards, personal loans, and other unsecured debts once they are formally enrolled in the Debt Management Program.
*Prevents Delinquent Account Reporting - After three consecutive monthly payments in the Debt Management Program, most creditors will adjust the standing of past due accounts, from a "delinquent status" to a "current status". This program benefit allows consumers who are behind in their monthly payments, and not able to send extra funds, to stop the negative reporting of delinquent accounts to the credit bureaus.
*Helps Avoid the Collections Account Process - Some seriously delinquents accounts can be prevented from being transferred to in-house collections departments or sold to third-party collection agencies, once they are enrolled in the Debt Management Program. Sometimes seriously delinquents accounts, which have already been forwarded to thirty-party collectors, can be "recalled," and set-up on a payment plan in the Debt Management Program.
*Helps Avoid Bankruptcy - This program is often the best alternative for people who are thinking of filing bankruptcy. Our program helps many consumers avoid the hassle and expense of having to file for bankruptcy.
A bankruptcy listing remains on a credit report for up to ten (10) years.
*Stops Collection Calls - Most creditors will stop the harassment calls and
threatening letters, within a couple months or less, of successfully entering the Debt Management Program.
*A Structured Debt Elimination Plan - This program is often the best debt elimination solution, allowing consumers to regain control of their financial situation by becoming debt free in average for 4.5 years or less, instead of 20 years or more.