Are creditors required to work with BCS and will they stop calling?
The Debt Management Plan is a voluntary program that your creditors offer because of the mutual benefit of the program. Creditors benefit by recovering money that they may have lost to bankruptcy or non payment, and clients benefit from reduced payments, lower interest rates, reduction or elimination of fees and a shorter repayment period. Creditors are not required by law to participate. However, most major creditors are willing to participate in the Debt Management Plan. This is why we have been able to serve the South Central Texas area with these programs for over 20 years! Creditors may continue calling for up to 90 days after you make your first payment. After this time, most creditors do stop calling. In the rare case that a creditor is still calling after this time, please let your counselor know. The counselor may be able to call the creditor or provide you with additional information in order to help get the calls stopped.
The Debt Management Plan (DMP) is a voluntary program that your creditors offer because of the mutual benefit of the program. Creditors benefit by recovering money that they may have lost to bankruptcy or non payment, and clients benefit from reduced payments, lower interest rates, reduction or elimination of fees and a shorter repayment period. Creditors are not required by law to participate. However, most major creditors are willing to participate in the Debt Management Plan. This is why we have been able to serve the South Central Texas area with these programs for over 20 years! Creditors may continue calling for up to 90 days after you make your first payment. After this time, most creditors do stop calling. In the rare case that a creditor is still calling after this time, please let your counselor know. The counselor may be able to call the creditor or provide you with additional information in order to help get the calls stopped.
