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How does a Debt Management Program differ from Chapter 13 bankruptcy?

April 26, 2017Bankruptcy Chapter 13 debt management debt management services debt settlement companies differ program

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How does a Debt Management Program differ from Chapter 13 bankruptcy?

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Debt Management Programs are completely voluntary for you and your creditors. A Chapter 13 bankruptcy may release some of the debts owed to creditors. Debt Management Programs provide complete payback to the creditors of your outstanding debt. Subsequently, creditors look more positively at a Debt Management Program since it can help prevent their customers from filing bankruptcy, which would cause them to write off debts owed to them.