))
What is a debt management plan
Manage episode 453005712 series 3602995
Content provided by Todd Davis and Kia Thompson, Todd Davis, and Kia Thompson. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Todd Davis and Kia Thompson, Todd Davis, and Kia Thompson or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.
This episode explains debt management plans (DMPs), which are programs helping individuals manage overwhelming debt. DMPs involve credit counselling agencies negotiating lower interest rates and simplified payments with creditors. The benefits include reduced interest, easier payment processes, faster debt repayment, and potential credit score improvement. However, potential drawbacks such as fees and initial negative credit score impact are also discussed. Ultimately, the article advocates for consulting a credit counsellor to determine DMP suitability.
35 episoade
Distribuie
