What is the benefit of using a DMP to pay my debts?
Creditors who agree to participate in the DMP may reduce interest rates, stop charging late or over-limit fees and re-age delinquent accounts so they will no longer report as late on your credit record. Most creditors will stop collection action, including collection calls, when they agree to accept payments through a CCCS of OK, Inc. administered DMP. A DMP may help you get out of debt faster with reduced interest charges and the ‘power pay’ effect of the DMP, as smaller debts are paid off, the payments are applied to remaining accounts rather than reducing the amount you pay on the DMP.
