What is a DMP?

A debt management plan (DMP) is an agreement between you and a debt relief provider. Simply put, you repay your unsecured debts in full over time in a single monthly payment that is distributed to your creditors by your DMP Provider. In return, after 3 consecutive DMP payments, most creditors will agree to significantly reduce your interest charges, eliminate late and over-the-limit fees, and reduce the amount of your monthly payments.^*

What are the Pros and Cons of a DMP?

^{* Typically benefits are granted after the first 3 consecutive payments.}