DMP: Can you cancel it?

[youareup]

I apologize if this topic was discussed earlier as I know that is annoying.

But right now I am in a DMP with InCharge.  And I now have the ability to pay my bills without using them - plus they are taking 20 a month.  Can I start paying my creditors without them?  Are there penalties for doing that?  Is there a problem with cancelling a program?

Thanks for your help in advance! 

[fishbjc]

If you cancel the program, your interest rates may default to what they were before you entered the DMP. 

Call EACH of your creditors independently (those in the DMP) and ask them what happens.  You may find that $20 per month is cheap.

[marty56]

Yes you can terminate the program but I dont think you will get the CCCs to repopen the accounts for you.  Even though they are charging you $20 a month, I would think that is still less then the interest the DMP got for you and these days the CCCs could decide to chrage you the default APR.

You can always pay the CCC extra money yourself.  I did this towards the end of my DMP with BofA.