Debt Management Program
Credit Counseling and Debt Management Forms
How do I know if a Debt Management Plan Is Right For Me?
A Debt Management Plan is a great resource but is it the right fit for you? You will need to take a hard look at your finances. You can do this either on your own or with the help of one of our Certified Credit Counselors. As a nonprofit organization, our counselors are here to help you analyze your financial situation free of charge. With your guidance, your counselor will look at factors such as your income and expenses. This will allow them to determine why you may be struggling to make ends meet. They will offer you an "Action Plan" which gives you specific suggestions about how you can get back on track. In some cases they may show you that simply making better spending choices might help.They can offer you tips about finding ways to reduce your spending and even offer Social Service referrals. Sometimes, if after the analysis they find that even though you have done everything you can to reduce your spending you are still unable to keep up with your expenses, or are unable to pay back your debt in a reasonable amount of time, a Debt Management Plan (DMP) may be recommended as a good choice for you. Our Debt Management Plan is not recommended to everyone. In fact, we only recommend this plan to 14% of consumers who seek our help. However, this program has proven to be invaluable to those who do participate.
This plan can allow you to take advantage of lowered interest rates and lower monthly payments. Most harassing creditor calls will stop. You will also benefit from having to make just one monthly payment instead of making multiple payments to each of your creditors. It will also allow you to take advantage of free ongoing counseling throughout your time on the program and beyond. We are here to help you adapt to any change in your financial situation. Such changes might occur as a result of a job loss or cutback, sudden additional expense such as college tuition, or even an unexpected emergency expense such as a car repair or medical issue. Remember, even if this plan is not right for you, we will always be here to continue providing the education you need.
Although there is a fee for the Debt Management Plan, we think that you will find the amount reasonable. As a nonprofit company we are monitored to insure that our fees always fall within state guidelines. Our average client pays approximately $25.00 per month to cover our handling expenses. We also readily waive fees for those who are experiencing extreme hardship. How can we survive on such low fee amounts? A portion of our income comes from grants and creditor donations awarded to us for the financial education we provide to individuals and groups alike.
If our Debt Management Plan is recommended for your particular set of circumstances, one of our Certified Credit Counselors will review each step of the program. They will explain each of your creditor's guidelines, give you an estimate on how long you will need to be on the program, help you to select a payment date that will best work for you, and of course indicate your payment amount. As an added benefit, at Debt Counseling Corporation, the counselor you begin with is the counselor you will always speak with. You will never have to repeat your history to a different counselor each time we contact one another.
The final decision to join the program is always yours. You will always be a part of the process and there is NEVER any pressure to join.
Why not give us a call and find out how we can help you?
Debt Management Program
- Our Debt Management Plan can lower your interest rates and monthly payments
- We will teach you how to take control of your finances so you can avoid getting back into debt again
- Our Debt Management Plan will allow you to make one convenient monthly payment
There are no lengthy loan applications needed to qualify as this is not a loan.
Why not call today and see if this plan is right for you?
Why opt for a Debt Management Plan?
Often our Debt Management Plan is a viable alternative to bankruptcy. Joining our plan provides you with peace of mind and eliminates harassing phone calls from your creditors. You can pay down your debt at a reasonable pace rather than allowing your debt to overwhelm you.
How Our Debt Management Plan Works:
One of our Certified Credit Counselors will speak with you to assess your financial circumstances and offer you an Action Plan to help you get out of debt. If after an analysis of your financial situation your counselor feels that our Debt Management Plan is right option for you, a simple agreement will be sent to you for your review. If you would like to enroll, just sign and return the agreement to our office. The agreement will review detailed information about your monthly payment amount. It also allows you to take control by choosing the payment date of your choice. Next, fax or mail the agreement back to our office. Upon receipt of your signed agreement, we will begin the process of contacting your creditors to verify your balances. Then, DCC will send each of your creditors a proposal which verifies your enrollment.
Each month you will make just one monthly payment. You will continue to receive statements from your creditors as usual. You will notice that your payments have been received, and your balance is going down. You can monitor your continued success!
While enrolled on the Debt Management Plan your monthly payment amount remains the same. As each creditor gets paid off, the additional money is applied to the balances on the remaining accounts. This helps you to pay off your overall debt significantly faster. Your counselor will contact you to answer any questions that may arise or to talk about any change in your financial situation or just to "check in" to see how you are progressing, and to offer ongoing education. Of course, you can contact us at any time if even if you just need a little reassurance.