Credit Card Center Advertiser Disclosure

Established Member
Posts: 31
Registered: ‎01-29-2009
0 Kudos

Credit Counseling / Debt Management Program

My husband & I have many credit cards that are very late.  I had him call on a few that are seriously late to ask what they can do.  The offers are not within our means.  If I had what they wanted, I wouldnt have gone late in the first place.  Can I get better luck with a credit counseling service or DMP? Can anyone recommend a trustworthy, with good results?
Posts: 97
Registered: ‎05-29-2007
0 Kudos

Re: Credit Counseling / Debt Management Program


I am in a dmp right now. Ive been in it since 2/08. My average interest rate on the cards is probably between 10-11% and my monthly payment is $1261 on $54k of original debt. Its now down to about $40k. It was good for me because before I did this, I was churning, just paying the high interest rates, but not bringing the principal balance down. I think there monthly charge is about $25 but the rates they got for me make it worthwhile because I will soon be out of debt completely and have my credit still intact.

Super Contributor
Posts: 5,805
Registered: ‎10-06-2007
0 Kudos

Re: Credit Counseling / Debt Management Program

I finished my DMP in Dec 07.  I had about 70k of CC debt and my payments were around 1400 a month.  If you can afford the payments, DMP is a good option.  it forced me to live on a budget which I still do today.  In terms of affect on credit, since DMP I got a prime Visa card, auto loan at the best rates my CU offered and a mortgage refi at 4.0%.


I sent you a PM of the DMP compnay I used since we cant posts links to them here.


Do not use the services of a Debt Settlement company since that will ruin your credit and probably rip you off.  IMHO better to fill BK the go that route.

10/17/2017 FICO: EQ 829 TU 830 EX 826

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.