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How can a debt management program lower my monthly payments?

Our Certified Personal Financial Credit Counselors are trained in analyzing budgets and developing action plans that support the consumer in their goal of becoming debt free. As an independent third party, when we approach a creditor with a budget analysis and a proposal for repayment that represents a consumer's best efforts, the creditors are very likely to cooperate. Creditors cooperate because they recognize the consumer is trying to fulfill their obligation and avoid bankruptcy. As part of their cooperation and support of community-based consumer financial education, creditors may, at their discretion, make concessions such as lower interest rates or payments. These concessions are available only to DMP clients of recognized counseling agencies. Often creditors will lower or eliminate late fees; reduce interest rates; adjust minimum payments; and adjust payment schedules- all with the goal of retiring the debt as quickly as possible at the most affordable payment point. Usually, a DMP created by a certified credit counselor and sponsored by an accredited credit counseling agency results in a positive outcome for both the creditor and the customer who owes the money.

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