@Anonymous wrote:
I dont think we would be interested in a DMP. It appears like it trashes your credit rating, yes??
DMP will not trash your credit rating since they don't reduce the principle you owe, just the interest. The only evidence of being in a DMP is that some CCCs add a comment to the TL that the accoount is being managed by a CCCS. Those comments have zero effect on your FICO score and from my own experience they are ignored by lenders.
The main problem in being in a DMP is that your monthly payment will go up since the longest you can be in a DMP program is 5 years.
1/25/2021: FICO 850 EQ 848 TU 847 EX
