So Begins my DMP

[KRF]

After a lot of research and reading experiences from here - I finally decided to go with a DMP. With my credit cards dropping off their 0% offers and my payments skyrocketing - I knew I would not be able to get ahead, no matter how hard I tried. Balance Trx were not an option as no one would offer me one (understandably given my balances to limits). 

This is not something I have ever done before, and it is definitely a hard mental thing because I have never NOT paid a payment before. I know the hit it will take on my credit and I know how lenders will look at a DMP - however, I own my home and car, so I have no need to take on new debt - so I have no need for creditors to even look at my DMP. 

I just hope and pray that in 4 years I will finally be (credit card) debt free! It was me who got myself into this position to begin with - and I have learned a hard lesson.

Wish me luck.

EDIT:

I have around 36k in CC debt. I went with Accredited Debt Relief. 

[FicoMike0]

Good luck!

You might post details about debt and which dmp. There's a lot of experience here on the forum. Lots of "do this, not that" advice, based on actual experience.

[KRF]

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@FicoMike0 wrote:

Good luck!

You might post details about debt and which dmp. There's a lot of experience here on the forum. Lots of "do this, not that" advice, based on actual experience.

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You're right, I have edited my OP  

[AmberNic]

Would you mind saying what your monthly payment will be with the DMP?

[KatzNDawgs]

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@AmberNic wrote:

Would you mind saying what your monthly payment will be with the DMP?

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In addition to that, take-home income and what portion that can be thrown at debt? Current credit scores (FICO8)? While that company seems to have not horrible reviews, it is still one that makes you not pay creditors until your scores tank, than attempt to get a cheaper settlement. I am thinking that you may be able to manage this better on your own with smart management and individual contact with the creditors, especially if your credit score was enough to warrant recent 0% APRs so your score doesn't tank too much the next few years.