Debt Management

Another page on our site involves Fran, a waitress who suggested debt management to a customer in the Debt Diner who appeared to have fallen on hard times. Without getting into too much detail, she told the customer that a debt management program helped pull her out of debt hole. Now, we're going to tell you Fran's story. It is one of debt management programs, and one of the pure goodness of the human heart.

Fran's Story

A long time ago, Fran was married. But her husband was killed in a bull riding accident. He didn't have much life insurance--only enough to pay off the house. And since she was married right out of high school, Fran didn't have much work experience. She had worked at the Debt Diner since high school, and she liked that job. She was happy there. Obviously, Fran still had expenses, but without her husband's salary as a bull rider, she had trouble making ends meet. However, she picked up more hours at the diner, so she made enough to pay all her bills on time and have groceries and other necessities. She didn't have money for a savings account or extras though, like getting her nails done, going out to the local honkey-tonk with her girlfriends, new clothes sometimes, etc. So she put that stuff on her credit card and just paid the minimum each month. This was working out well--until her car broke down. The repair bill was $800--money she didn't just have laying around. She put the repair on her credit card, but it was taking her close to her limit. "No more fun money for a while," she thought. But then she got a credit card offer in the mail. She couldn't resist. She kept making the minimum payments on her other card, but that minimum had gone way up with the addition of the car repair. She got another card for her "fun money." Then Christmas rolled around, and she went overboard on gifts for her family. Soon the minimum on that card plus the other one was more than she could handle. Things were so bad that she had to start putting groceries on her credit card. She needed some free debt management advice and she needed it now.

One day in the diner, Fran was waiting on a businessman, little did she know he was a debt management professional. She decided he might be able to give her a little free advice. She thought it couldn't hurt to ask, anyway. So she did. As she refilled his coffee cup, she asked, "Excuse me sir, but do you mind if I ask you a question?"

"Go ahead!" he said.

"Well, this is sort of embarrassing for me. My husband died last year, and lately I've had trouble making ends meet. I've had to use my credit cards to the point that I can barely make ends meet. I'm close to missing a payment! I don't know what to do. You look very smart. Do you have any advice for me?"

"Actually, that's my line of work. I work for a debt management company, and that debt management company provides great debt management services."

"What's debt management?" she asked, as she sat down.

"Well, we sit down and talk with people about their debt situation, then we recommend the appropriate debt management program. Most of our debt management programs have people out of debt in about five years, and we sort of rearrange their finances so they can make their payments and have a little breathing room. Our most common program is debt consolidation. It's the perfect solution for someone with a lot of credit card debt. As an added benefit, we provide debt counseling, too, so that once your debts are paid off, you'll know how to budget, how to save and how to use credit wisely so you can avoid debt in the future. If you'd like to talk about your situation further and maybe get a debt management solution lined up, here's my card. My office is right here in town."

"But isn't this debt management service expensive?" Fran asked.

"We're a non-profit corporation, so our rates are lower than most other debt reduction companies. Your monthly fee will be very small. I can show you on paper when we meet."

Fran did meet with him later. She enrolled in a debt management program and took advantage of the debt counseling, and now she's on the road to debt recovery and doing better than ever.

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