Will being on a Debt Management Program affect my credit report or credit score?
While InCharge Debt Solutions does not report your participation on its debt management program nor take any action that would affect your credit score, some creditors will report that you are participating in a Debt Management Program (DMP) and some will show that you have elected to close your account. Eventually, your consistent, on-time DMP payment will have a more positive impact on your credit since your monthly payments will be made more timely and your credit score will not continue to be negatively impacted by late payments and over-limit charges. Staying with the DMP program and seeing it to its completion is a great start to improving your personal financial health.