Do you feel like all of your debts have piled up and there is no way to make all of your payments as well as keep living month-to-month? That is a very common problem that we see from our clients, however, there are solutions to help keep you on top of everything and one of those is going on a debt management plan.
Consumer Credit Counseling Service, Inc. (CCCS) offers a Debt Management Program (DMP) when more assistance is needed. The DMP assists consumers in developing a repayment plan that is acceptable to their creditors and aids consumers in developing a budget that is livable and realistic within their available income. Our DMPs are voluntary programs that serve the dual role of helping consumers repay their debts and helping creditors to receive the money owed to them.
First, you will come in for a credit counseling appointment with our agency and if you’re curious about that process then you can read our previous blog post here all about credit counseling. After collecting all the information during your appointment, a counselor will make suggestions based on what would be the best in your situation, and in some cases a DMP is advised.
For that process, CCCS will negotiate a lower minimum payment and interest rate with your creditors to make the monthly payments more affordable for you. There are some fees associated with going on this plan such as a one-time setup fee and a monthly maintenance fee and you can see those by going to our Debt Management Program page on our website.
You will essentially make one large payment to our office and from there we will send out payments to each of your creditors for you. This program is beneficial to helping you pay off your debts and still be able to afford your vital needs for living.
If you have any questions about this program or would like to schedule an appointment with us please call us at 316-265-2000.