What Do I Need To Know Before Joining The Debt Management Program
What is a debt management program?
A debt management program (also referred to as a DMP) is a structured repayment plan that combines all of your monthly debt payments into one, affordable payment so that you can pay off your debt in three to five years. Interest rates on your accounts are generally lower on a DMP, than what they were originally.
What special services does InCharge offer as part of a DMP?
You’ll have immediate, convenient access to InCharge online resources 24/7 and over-the-phone help by Certified Financial Counselors six days a week. You can sign up or access your account online anytime. We offer payment date options so that you can choose the most convenient time of the month for your payment. Through our convenient E-Pay system, funds can be withdrawn electronically from your bank account. In addition, InCharge provides consumer information and materials, including a dynamic, interactive website and a monthly newsletters offering budgeting and financial tips that help you stay on the right track while you complete your debt management program.
You can track your progress with the I’m InCharge App.
Can I add my boyfriend or girlfriend to my account?
Yes, but both of your names have to be on the accounts; simply sharing the payment of bills is not sufficient. If both names are on the accounts (therefore you’re jointly responsible for the debt), then it’s just a matter of agreeing to the terms of the DMP and each of you signing. If both names are not on the accounts, InCharge will enroll each of you individually and the resulting benefits should be similar to a joint account in terms of financial benefits.
I may not have access to all my creditor information. Can I still enroll?
Yes, absolutely. InCharge’s revolutionary new credit counseling software, allows us to pull a portion of your credit file and import the creditor information directly into your InCharge account. Once you have authorized this step, all of the current balances and account numbers of your unsecured credit accounts will be pulled into your InCharge credit counseling account for review and analysis as you work with a counselor on a budget. This is a “soft pull” on your credit report and will not affect your credit score.
What if creditor accounts are in my maiden name?
As long as you have identification – such as a driver’s license, birth certificate or marriage license – you can enroll in our debt management program! During your consumer credit counseling session give your counselor your maiden name to avoid any confusion. In any event, as long as you can verify that these accounts are yours and that you are responsible for the debts, they can be added to your InCharge debt management program.