How does a Debt Management Program work?
Credit Counseling Session A Debt Management Program begins with a confidential credit counseling session with an NFCC and CDIA-certified credit counselor. During this session, a certified credit counselor will provide strategies on budgeting and saving. Your credit counselor will work to: • Determine your personal financial goals • Review and analyze your current financial situation • Create a realistic budget to increase money savings • Evaluate and explore best available options Debt Management Program – Enrollment If you and your counselor agree that it is an appropriate option, you can participate in a voluntary debt management program. After enrolling in the debt management program, your counselor will contact creditors to negotiate a repayment plan that will allow you to pay your debt more effectively. You will benefit from the convenience of making one monthly payment to creditors, reducing the interest paid as well as creditor fees. Debt Management Program – Making Progress You
