A Debt Management Program, sometimes referred to as DMP, is a financial service where a consumer makes one monthly consolidated payment that is then forwarded to each of the enrolled creditors on their behalf.  Additional benefits may include a reduction in interest rates, waiver of fees, and a shorter time period to pay off their debts.

Before going into debt management, a counselor will provide you with a budget analysis known as Credit Counseling. Credit Counseling is a financial service providing education to consumers about how to pay off their debts and how to avoid accumulating debt in the future. It involves a comprehensive analysis of a consumer’s financials, evaluation of debt relief options, and how to manage their finances more effectively .


Gathering Your Information

You supply information about your personal finances. We recommend gathering your most recent paystubs, credit card bills, household bills including utilities, and an estimate of how much you spend on other necessary expenses such as groceries and transportation per month. The more complete and up- to-date your information, the better our advice will be.

Begin Credit Counseling

Discuss your debt and personal financial situation with your counselor. Your counselor will review your budget and spending habits; offer targeted advice to help you control your spending. Your counselor will analyze your debts and educate you about effective repayment strategies.

Create A Plan

Your counselor will prepare a new budget for you based on your unique circumstances. Your plan will guide you toward repaying your debts. If your circumstances warrant it, your counselor may propose a Debt Management Plan (DMP).


You can qualify and enroll in a Debt Management Plan by calling and speaking to a certified credit counselor. Typically, only unsecured credit cards qualify for DMP.

If you qualify for DMP, you may be eligible for an interest rate reduction on your enrolled credit cards that will lower your overall payments and help you to pay off your debts faster.

In a DMP, you will make one consolidated payment that will then be forwarded to your enrolled creditors on a set date.

Your enrolled credit cards are closed and you will not be able to use them, however, you are typically allowed to keep one for emergency purposes should you choose to. Your credit score may be negatively impacted due to the closing of your accounts, however, as you make on-time payments and reduce your overall debts, you may see your score begin to increase.