How to Choose a Debt Management Plan – Investopedia

Working with a non-profit credit counseling agency to create a debt management plan can be a worthwhile option if you’re struggling with debt. However, just because an agency is non-profit doesn’t mean its affordable or trustworthy. 

Choosing the right debt management plan means considering factors like cost and reputation. Here’s what you need to know about finding and comparing options.

What Is a Debt Management Plan?

A debt management plan is a structured, voluntary agreement between you and a consumer credit counseling agency. The agency aims to help you pay off high unsecured debts like credit cards and medical bills by negotiating account payoffs with your creditors. 

After negotiating on your behalf, your credit counselor …

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