What is debt management?
Many consumers ask “what is debt management” or even “what is a Debt Management Plan (DMP) or Debt Management Program?” The short answer is that a Debt Management Plan is one of the numerous solutions that our certified credit counselors can explain to you after a thorough evaluation of your financial situation. If you select a debt management program, the counselor will work with your creditors on your behalf to see if lower interest rates are possible, and then help you consolidate your credit card payments into one monthly DMP payment. This process should help stop the collection calls and eliminate late- and over-limit fees. So, if you are stressed about your debts, a structured plan like this might be right for you!