The Debt Management Plan consolidates existing unsecured debts by combining them into one convenient monthly payment.
Why Opt for the Debt Management Plan Rather than a Home Equity Loan?
• The Debt Management Program is not a loan, it’s a sustainable plan to get you OUT OF DEBT! A home equity loan is only going to get you into more debt – not reduce it!
• You don’t need to be a homeowner in order to participate
• There are no lengthy loan applications to be completed to qualify.
• We teach how to take control of your finances to avoid getting into debt again in the future.
Often the Debt Management Program is a viable alternative to bankruptcy. Joining this program provides you with peace of mind and no more harassing phone calls from creditors. You will feel secure by responsibly paying down your debt, rather than allowing it to overwhelm you.
How Our Debt Management Program Works
If all parties agree that debt consolidation is the best plan for you, the following steps will also be taken.
DEBT MANAGMENT – STEP 1
A simple agreement will be sent to you for you to review, sign and return to our office. The paperwork includes your selection of a monthly disbursement date. Upon receipt of the signed agreement, we will begin the process of contacting your creditors to verify your balances. Also, each of your creditors will be sent a proposal in order to verify their acceptance of your enrollment on the debt consolidation Debt Management Plan, to verify your new lower interest rates, and to verify the exact monthly payment amounts.
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DEBT MANAGEMENT - STEP 2
Every month, you will make one scheduled monthly payment to DCC by the day before your chosen disbursement date . On the next business day, upon receipt of your payment, your money will be forwarded (disbursed) to each of your creditors for the agreed upon amounts. You will continue to receive credit card statements as usual from your creditors. Each month you will notice that your payments have been received, and you can monitor your continued success!
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DEBT MANAGEMENT - STEP 3
While enrolled on the debt consolidation Debt Management Program, your monthly payment amount remains the same. As each credit card gets paid off, the additional money is applied to the balances on the remaining credit cards, and this helps you pay off your overall debt significantly sooner. Throughout your time on the program, your counselor will contact you to answer any questions that may arise about your financial situation, to just “check in” and see how you are doing, and to provide ongoing education.
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