*Reduce Interest Rates

Most banks and finance companies offer debt management plans (DMP) thru approved non-profit credit counseling agencies. DMP's may lower or eliminate interest rates and stop late or over-limit fees.

*Lower Your Payments

Debt Management Plans may lower over-all monthly payment. DMP minimum payment requirements are at the sole discretion of the credit grantor.

*Stop Collection Calls

Once an account is approved for debt management plan, collections calls usually slow or stop entirely. Creditors may still call a consumer enrolled in a DMP.

*Restore Your Credit Rating

Once enrolled in a Debt Management Plan a creditor may "re-age" an account that has fallen behind. Re-aging is typically done after the third consecutive on-time payment. Accounts that have charged off are not eligible for re-aging.