There are a lot of options when it comes to managing debt and we get so many questions from people about the differences between a Debt Management Plan and a Debt Consolidation Loan.
If you are experiencing money struggles, chances are you’ve heard about these options. You may even think that they are the same. That’s why we’ve created this handy infographic that includes an overview of each and how they differ.
18 responses to “Debt Management Plan vs. Debt Consolidation Loan Infographic”
sounds good to me
I am happy to end the dept looop and see an end to it. 4 years is better then 11 years to pay off those balance. I only use my debit card from now on.
Glad to hear it – debit cards are a great tool to end the credit card cycle and still have the ability to do things that need a credit card payment.
Debt Management sounds great! I just want to payoff my cards, get rid of some and lower the credit limit which has gotten us in trouble.
Kelly – it sounds like you are on the right track! We’d love to help you determine if a Debt Management Plan is right for you 🙂 Give us a call!
Thanx
Yes, I will be calling this Monday with all of my information. i have a ref # and a contact # also. Do you have an office in Honolulu Hawaii?
Hi Stacy – we are licensed to serve clients nationwide, including Hawaii!
Am looking forward to getting started.
Thanx
I’m head injured and need help . I’m paying on 12 Credit cards payments.
I have loan company .that want to give me $ 10 .000. Loan to pay off my cards .but I dont trust anyone
Hi David – you can call and speak to one of our certified credit counselors by calling 855-507-6456, or you can do our online financial assessment to get started. Best of luck to you!
I would like to know how this works I pay u the monthly payment and u pay my bills I have listed
Hi Jodi – With a Debt Management plan, you make one monthly payment to the Credit Counseling Agency handling your plan, and they then take care of the payments to all of your enrolled creditors. In addition, they provide ongoing education and support as they continue to work with you and your creditor to eliminate your debt.
I’m in serious debt taking care of medical bills and credit card debt. I’m going under and I can’t breath anymore. I need help….
Please call CESI at (866) 484-5373.
does a dmp close accounts when fully paid?
The creditors close accounts when the DMP proposals are accepted.