Credit Sources : Debt Management Program

• Debt Free Future is Possible

How will a debt management program help me?
It is a proven plan to get you out of debt. It allows you to make a single monthly payment that is distributed to your creditors. This eliminates the need to make individual payments to each of your creditors. Many of the creditors who participate in the program will allow you to reduce your monthly payment and, after you establish a payment history, may reduce or eliminate interest and late charges, and harassing collection calls should stop. That way, more of your payment goes to reducing your debt, getting you out of debt faster. Beware of other companies who over-promise and then cannot deliver. As the largest provider in the industry, we have a proven track record and stand behind our word.

How will a debt management program affect my credit?
If your credit report already reflects any late or missed payments, then the debt managment plan (DMP) will likely improve your record by facilitating consistent, on-time monthly payments. Also, if you were late in the past, many creditors will report you as "current" as long as you make all of your monthly DMP payments on time. If you have never missed a payment, then sending reduced payments to creditors or getting interest concessions through the DMP could put a blemish on your creidit eport. A creditor may report a reduced payment as "late" or reflect that payments are being administered by a credit counseling agency. Since the plan objective is to help you get out of debt, lenders may avoid issuing new until you have completed or withdrawn from the plan.

Will a debt management program stop collection calls?
Collection calls usually stop after the third consecutive payment on the debt management program. If you continue to receive collection calls after your creditor has posted three consecutive payments, please contact us by e-mail with the name of the creditor and the last four digits of the account number to allow us an opportunity to investigate. Please keep in mind, your creditors are often large, complex organizations; sometimes the department that is calling you has not been notified about your enrollment status.

Costs may vary based on state regulations and the number of creditors you place on the program. Clients typically pay a nominal set-up cost to cover the expense of account activation, and a monthly servicing cost to cover recurring expenses.
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Learned so much from this program. It's time you discovered financial freedom through Consumer Credit Counseling Service. Call or enroll online progarms. Money Management International (MMI) and Consumer Creidit Counseling Service (CCCS) are non-profit community service organizations onlnie that provide confidential financial guidance, free consumer creidit counseling services and debts managemen assistance onlne.
www.moneymanagement.org

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