Can Debt Management Systems stop fees, interest, and/or penalties or freeze my account balances?
Generally interest and fees continue to accrue until the debt is resolved. However, this depends on many factors and what the most effective means to resolve your debt is for your personal situation. If you are only interested in reducing your interest rates and you can afford payments to pay off the FULL balance of your debts within 3 to 5 years, it may be possible to negotiate reduced interest rates by yourself or through a debt consolidation program. However, securing a reduction in your interest rate would require your commitment to make regular monthly payments to your creditors sufficient to pay off the debt in a 3 to 5 year period. For many people struggling with their finances, that monthly payment is more then they can afford. Consequently, negotiation to reduce interest is not a viable option for many people. On the other hand, if your goal is to liquidate your debt for less then the balance you owe and you need a small monthly payment you can afford, there are other options
