What is a Debt Management Plan (or DMP)?

A Debt Management Plan (also known as a DMP) is a sponsored repayment where you work with a a non-profit Credit Counseling Agency to pay back your existing debts. These plans typically last for about 4 or 5 years (maximum of 60 months) and will include a fixed payment due on the same day of each month throughout the duration of the DMP. 

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