Debt Management FAQs

There is no fee for a client to engage in a counseling session.  Normally, if a client starts a Debt Management Plan, there will be a one time set-up charge and a monthly fee to contribute towards the cost of administering a Debt Management Plan. We do not hold your first deposit. If you feel that a fee will be too much of a burden for you to pay, talk to your counselor.  If you qualify under the U.S. Department of Health and Human Services poverty guidelines, you may be eligible to a fee waiver.

The purpose of a Debt Management Plan is to help consumers get out of debt.  To do this, it is important that no further charges are made while are on the program. However, as with any rule, exceptions are made for justifiable reasons.  When arranging to start your program, discuss with your counselor your reason for wanting to keep some accounts active.

Your ability to get credit in the future will depend on how your Debt Management Plan is set-up.  If your budget doesn't permit you to pay full payments, for a period of time some of your creditors might report you are not paying as originally agreed although they have accepted the reduced payment.  When you are able to make regular payments again, this notation will be removed although you still may have a notation that you were delinquent in the past.

Also affecting your ability to get credit in the future will be how your credit report looks when you start paying on the program, the consistency of your payments, whether you increased them over time, and the creditor’s reporting policies.  If you start a Debt Management Plan, some creditors report that your payments are being made through a counseling agency, others will not.  If you are delinquent on an account, some creditors will bring your account current when you start paying through a Debt Management Plan. 

After having completed your program, your accounts should be on a current status and all notations that your payments are being paid through a counseling agency should be removed.   There should be no further notation on your credit bureau file that you used the services of a counseling agency. 

Yes, our company is committed to maintaining your privacy and online confidentiality whether you are filling out an online counseling form, maintaining your account online, or registering to participate in the MMI community via the forum. MMI has produced a privacy statement that outlines the steps that we have taken to ensure that any information or data that you provide is kept confidential and cannot be used improperly.

After submitting an online counseling form, a counselor will contact you to discuss the details of your proposed Debt Management Plan. Our professional, certified counselors will assess your financial situation, assist in creating a spending plan, and discuss options for debt repayment.

After you make your first deposit, our support counselors are available to guide you to your financial goals. As a client, access to detailed information about your repayment program is available anytime by accessing your account online or by calling our customer information line.

To begin on the path to financial freedom, simply complete the online counseling form or call a counselor directly. To assist in expediting either counseling process, have your most recent creditor statements available for quick and easy reference.

The counseling process is different for every person. However, having your most recent statements available at the time of counseling can help reduce the process time.

MMI is an industry leader with more than 50 years of credit counseling experience. We work with many unsecured creditors including major credit corporations, doctors, attorneys, finance corporations, and collection agencies.