Credit & Debt | Navicore Solutions (2024)

FAQs

How much does Navicore solutions cost? ›

Navicore's Debt Management Program one-time enrollment fee and on-going monthly fee vary based on your state of residence and ability to pay. On average, our clients are charged a one-time enrollment fee of $48 and a $27 monthly fee.

At Navicore Solutions, we offer Credit and Debt Counseling, Free Financial Education and Workshops, Housing Counseling, Student Loan Counseling, Bankruptcy Counseling and Education, and more.

Quick Answer. A debt management plan gives you new payment plans on certain debts negotiated by a credit counselor, often with waived fees and lower interest rates. It comes with setup and monthly fees and doesn't include all types of debt, but can save you money and stress.

Novadebt, A Garden State Consumer Credit Counseling organization, is a non-profit, financial management, social service agency.

Once you start your DMP, you'll only have to make one payment each month to cover all debts included in the plan. Your provider will split this money between your creditors. You'll continue to make these payments until either your debts are cleared or you're able to make the full, original payments again.

Banks, credit unions, and installment loan lenders may offer debt consolidation loans. These loans convert many of your debts into one loan payment, simplifying how many payments you have to make. These offers also might be for lower interest rates than what you're currently paying.

You'll need to send your debt management plan provider a payment each month, usually by Direct Debit. The DMP provider will then pay your creditors on your behalf according to the terms of the plan. You don't have to worry about contacting your creditors to reduce your payments; this'll be done for you.

Pay off your debts.

There's generally no penalty for making extra payments on your DMP, and if you can afford to pay off all of your balances at once, that'll end your agreement early.

To cancel your DMP, you need to contact your provider and ask to cancel. They will inform your creditors that the agreement has been cancelled, so you can expect to start dealing with them yourself again.

Debt relief will also often give you a fixed payment plan and a set payoff date, which can also make it worth considering — as streamlining your payments can make it easier to manage while helping you save money on interest. "One of the biggest advantages of going through a debt relief program is the savings.

Does debt management hurt your credit? ›

With a DMP, you will eventually pay your debt in full, and ultimately, that is what your credit file will show. The fact that you used a credit counseling agency to do so will not reflect negatively on your credit score.

While there are no government debt relief grants, there is free money to pay other bills, which should lead to paying off debt because it frees up funds. The biggest grant the government offers may be housing vouchers for those who qualify. The local housing authority pays the landlord directly.

Credit counseling agencies, in general, often get good reviews from people given how helpful they are, but Money Management International has some of the highest online ratings and best reviews.