How will a debt management program help me?
Your financial situation will be stabilized and you will most likely have additional money in your monthly budget for essential items. You will have a clear plan for resolving your credit problems and youll have the encouragement to work on that plan until you are living debt free. Certified credit counselors will design a debt management plan to meet your specific needs and help you get back on a manageable budget. A debt management plan is for you if you want: • Reduced creditor calls. • Reduced payments. • Reduced interest and finance charges • Waived late and over-limit fees. • Help with reestablishing credit.
A debt management plan (DMP) is a mutual agreement between you and a credit counseling agency (CCA). Simply put, you agree to repay your unsecured debts in full over time, without taking on any more debt. In return, most creditors will agree to significantly reduce your interest charges eliminate future late and over-the-limit fees and bring your account to current status.Back to Top How will a debt consolidation program help me?
