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Debt Management

AMA Financial offers a debt management program that is very similar to the other well ranked programs. They negotiate on behalf of their clients to get interest rates and other fees reduced so that more of the monthly payment that’s being made goes towards retiring debt as opposed to mainly servicing the interest. For this program, AMA Financial charges a $25.00 monthly fee, only about half that of most competitors. On the other hand, the do charge $350.00 upfront, which is pretty unusual for debt management programs. Of course, as with other such programs, commissions are paid by the creditors as they receive payments.

Debt Settlement

In the event that the monthly payments required for debt management are simply too expensive, AMA Financial offers debt settlement. It’s not unlike the debt settlement services of other top rated providers. Rather than making monthly payments to creditors, clients make the payment into a trust account managed by AMA. When that balance gets high enough, generally 40%-50% of the smallest debt, the company attempts to negotiate a settlement with the creditors for much less than the actual debt. For this service, AMA Financial charges the typical 15% of the total debt plus a monthly fee of approximately $50.00 for management of the trust account.