How does the DMP differ from Chapter 13 Bankruptcy?
Chapter 13 may consist of a partial payback. In addition, interest is generally stopped. The CCCS Debt Management Plan is a 100% payback to all creditors and interest may not be stopped just because you are paying through CCCS. All parties are participating in a voluntary manner. Creditors look at CCCS as a positive way for consumers to solve their financial problems as opposed to bankruptcy. CCCS cannot advise you to file bankruptcy or not. However, we can help you look at alternative solutions.
