DMP completion

[Anonymous]

I finally received my letter of completion form the agency that i used for the DMP.

What a feeling it is to be finally debt free!

It took me 4.5 years to complete and i was $60,000 in debt. I was working 48-60 hours a week to keep up with the payments. No more overtime for me!!!!!!!!! What a relief!!!!!!!!!!!!

My agency instructed me to mail the letter of completion to the 3 CRA's. I mailed it 12/102008.

How long does it take for the CRA to reflect that in my credit report?

Just wanted to let everyone know that DMP does work.

My scores: EQ - 774, TU - 724,  EX - 719

[marty56]

I graduated DMP last year.  IMHO I dont know what the letter will do for you since the TL's that say your account is being managed by a CCCS will stay on your CR.  Since DMP, I got a prime Visa card and autoloan and TL's dont affect your FICO score.

[demi]

I recently graduated from a DMP, received a congrats letter, but nothing about sending to CRA's...their suggestion however was to run reports in a couple of months to make sure everything shows paid off. 

I don't know why you would need to send it to them...and it might cause some type of reaging on accounts ?  Don't know if its a possibility, but anything seems to be able to happen when it comes to CRA.

Message Edited by demi on 12-12-2008 12:29 PM

[kbella]

Congrats djay!  We are 1 year into a DMP, and I feel like it'll be forever before we are debt free.  It's great to hear of others who successfully completed the program.  3 years left for me!

[Anonymous]

In my credit report, it shows that the balance is paid off.

But there are 2 credit card companies , one is BoA and Citi , that is showing managed by credit counseling in the description part. I want that removed from my CR.

The rest of the accounts that was enrolled in DMP does not show that.

All of my cc accounts was closed by credit grantor, including BoA and Citi.

So I dont understand why BoA and Citi is still showing that in my report?

Im new to the board, bear with me.

What do u exactly mean by reaging of accounts Demi?

[Anonymous]

Thanks Kbella!

Just take it one day at a time.

You will get there!

You will feel empowered and in control after DMP completion.