A Debt Management Plan is a mutual agreement between you and the Debt Management Company. You agree to repay your unsecured debts in full over time, without taking on any more debt.

In return, most creditors will agree to significantly reduce your interest charges, waive any late fees, and re-age your accounts back to a current status as well as monthly payment consolidation. A Debt Management Plan can help you get out of debt quicker than you could by paying the bills on your own. You would make one simple payment for your all your unsecured debts. The benefits typically begin after 3 consecutive timely monthly payments.