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What are the Pros and Cons of a DMP?

It is important to understand how a debt management plan works before you enroll. Here we outline the key benefits and considerations of debt management to help you further in your decision process about the best plan for you.

If you are unsure about what is right for you, call 1-888-888-CARE to speak to an associate who can help you further.

Debt Management Plan (DMP)


  • Most creditors reduce interest rates and eliminate late fees
  • Most creditors reduce your monthly payments
  • One consolidated payment for your unsecured debts
  • Benefits typically begin after 3 timely payments
  • Collection activity should stop quickly
  • Debt is repaid in full
  • Less negative credit impact than settlement


  • Some creditors do not participate
  • You may not take on any additional debt while on the program
  • You must make consistent monthly payments to ensure benefits continue


How do I choose a DMP provider?

Debt Help - CareOne Debt Relief Services
Offering CareOne Debt Relief Services: