If you’re struggling with mounting debt and high-interest rates, a debt management plan may help you regain control of your finances.
A debt management plan (DMP) is a repayment strategy offered by credit counseling agencies that usually involves budgeting, consolidating debts and negotiating with creditors. It can help you pay less in interest charges, avoid collection calls and become debt-free sooner.
Here’s everything you need to know about debt management plans, how they work and their possible downsides.
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How does a debt management plan work
Debt management plans are programs designed to help individuals struggling with mounting debt. These plans are available throug…
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