New Member
Posts: 2
Registered: ‎09-08-2009

Help with Credit Card Debt

We are current on all of our credit cards however in looking a budget we continue to be short each month. We have come up with a pretty realistic budget for necessary items (shelter, food, utility, etc.) However we are trying to wipe out our credit cards debt and were thinking if we could get on a DMP where they might lower our monthly payments and our interest rates we could within 4 to 5 years be able to payoff all our cc debt. What can be expected in a DMP do companies work with you on lowering you interest rates or monthly payment amounts? What is the best way to go about this.
Moderator Emeritus
Posts: 11,562
Registered: ‎08-29-2007

Re: Help with Credit Card Debt

FTC webpage: Knee Deep in Debt
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Super Contributor
Posts: 5,702
Registered: ‎10-06-2007

Re: Help with Credit Card Debt

I finished a DMP program about 2 years ago.  They will lower your interest payments but your monthly payment would probably go up since the longest you can be in a DMP program is 5 years.  If you are interested in the company I used, send me a PM.
11/28/2014 FICO: EQ: 796 EX:788 TU:803

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