Debt Modification
A Smarter Way to Manage What You Owe
Debt modification involves renegotiating the terms of your existing debts—lowering interest rates, reducing monthly payments, or extending repayment periods. At Clearpath Financial Network, we act as your advocate to work with creditors on your behalf, ensuring you get the best possible terms.
How Debt Modification Works?
Debt modification involves working with your existing creditors to change the original terms of your loan or credit agreement. This may include lowering your interest rate, extending your repayment period, or reducing your monthly payment to better fit your current financial situation. Unlike debt consolidation, debt modification doesn’t require a new loan—it adjusts your existing obligations to make them more manageable.
Why Consider Debt Modification?
Lower Monthly Payments
Reduced Interest Rates
Avoid Default or Bankruptcy
Stay with Current Lenders
Is Debt Modification Right for You?
Debt modification is ideal for those who are:
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Experiencing a financial hardship such as job loss or medical expenses
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Unable to keep up with minimum monthly payments
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Wanting to avoid foreclosure, default, or bankruptcy
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Seeking a long-term solution without incurring new debt
Our Debt Modification Process
Free Consult
We review your finances and discuss your goals.
Custom Plan
We design a strategy tailored to your needs.
Agreement
We negotiate better terms on your behalf.
Continued Support
We help you stay on track throughout the process.
Debt Modification FAQs
Debt consolidation combines multiple debts into one new loan. Debt modification, on the other hand, adjusts the terms of your existing debts without a new loan.
It may have a temporary impact, but it’s often a better option than missing payments or filing for bankruptcy. Long-term, successful modification can help rebuild your credit.
No, debt modification typically doesn’t require any collateral. It’s based on renegotiating current terms with your creditors.
It depends on the complexity of your debts, but many clients begin seeing results within a few weeks of starting the process.
