A debt management plan (DMP) is a structured monthly consolidation plan at reduced interest rates which means you can pay your debts at very affordable rates.
Your DMP provider will help you work out an affordable payment and talk to your creditors.
You make one monthly payment to the DMP provider who then pays your creditors for you.
First evaluate your financial status and try to make a budget. Making budget will allow you pay your debts faster. Depending on your financial situation, we may recommend you to enroll in our debt management programs(4. Debt management) .In which you pay us only one payment monthly and then it’s our responsibility to pay all of your creditors on your behalf.
We also help you in credit card relief programs by finding out if credit card negotiation is possible or any other decrease in interest rate is possible.
You can only use a Debt Management Plan for non-priority debts
These include:
You can’t use a Debt Management Plan to pay off priority debts.
These include: