Debt Management - FAQ
What is a Debt Management Plan? (DMP)
A Debt Management Plan is an agreement made between a person who finds it difficult to cover their monthly debt repayments, and a debt management company. The main aim of Debt Management Plans it to reduce the existing debt over a fixed period of time to help you take control of your finances again. As soon as you enter a Debt Management Plan, your debt is reduced and restructured, making it easier for you to cover your living expenses, such as food, home costs and bills.
Does it matter how much money I owe? How long will it take to complete the payoff?
Depending on the debt amount and your current financial situation, our credit counselors can estimate how long it should take to complete the payoff. Each client is treated individually, and there are a number of criteria which may affect the payoff time.
How do I know my creditors are being paid?
You will receive regular statements informing you about the progress of the payoff.
Do I need to be a homeowner to qualify?
No. We can help you get out of debt no matter what your housing situation is.