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How long does a debt management plan last?

April 26, 2017debt management Plan

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How long does a debt management plan last?

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A Debt management plan lasts for 3-4 years within which your debts are paid off. The credit counselor will estimate how long you’ll take to complete the payoff.

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This depends on the amount of debt and level of repayment agreed with your counsellor. As a rough guide, if you divide your total debt by your monthly DMP payment amount, this gives you the total number of months it is expected to last.