A Debt Management Program (DMP) has many names, some companies may call this program a Debt Consolidation or a Credit Counseling Service.

How the program works:

Credit Counseling can help you get out of debt by giving you:

Free counseling - A certified credit counselor will do a free financial analysis and let you know if you qualify to enter a Debt Management Program (DMP).

Reduce interest rates and fees we contact your creditors, and get them to reduce your interest rate up to 75% and eliminate most fees.

One low payment we will combine all of your credit card bills into one low monthly payment. Your payment goes to our company, and we disperse it to your creditors so that you dont have to juggle multiple payments.

Your debt is paid off! - Once you make all of your scheduled monthly payments on the DMP, your unsecured debt is gone, years before you could have paid it off on your own.

Improve your credit! - By eliminating this debt quickly your debt-to-income ratio will improve. The result: a higher credit score and an improved credit rating.

Remember credit counseling is a program that is run by the banks. They will determine what your monthly payment and interest rate will be.