Learn how a DMP can save you money and get back to a healthy financial state Learn how a DMP can save you money and get back to a healthy financial state

Debt Management Plans

The benefits of debt consolidation without a loan. Learn more about our powerful debt repayment program.

What is a debt management plan?

A debt management plan (or DMP) is a structured debt repayment program without requiring a loan, that’s typically administered by a nonprofit credit counseling agency. MMI works closely with creditors to reduce your interest rates and find a monthly payment that fits your budget. This results in faster debt repayment, saves you money in the process, and typically results in a higher credit score once your program is complete.

There are no requirements to qualify for a debt management plan. Clients simply need to review their debts and budget details with an NFCC-certified credit counselor to determine if they would benefit.


A repayment plan that works for you

Whether you're overwhelmed with calls from debt collectors, or just unhappy with your debt situation, a debt management plan (DMP) from MMI can help you:

  • Reduce your stress levels
  • Consolidate your debt into one monthly payment - without a loan
  • Save money on reduced interest rates
  • Accelerate your debt payoff
  • Create financial stability
  • Stop the collection calls

If your debts are taking up too much of your time, money, and mental wellbeing, we can help you get organized and start making real progress.

What makes the debt management plan unique?

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Money Management International — This is what we do A strong organizational culture is important to us here at Money Management International (MMI), because culture guides everything we do — from helping our customers understand their finances, to the ways we inspire, respect and interact with one another. At MMI, we are more than the sum of our individual parts; we are a team of dedicated employees striving to provide help, hope and a fresh start for consumers in need. No matter their role, each MMI employee offers a unique skill and talent that supports our mission of improving lives through financial education.
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Ready to kickstart your debt repayment? A Debt Management Plan from MMI may be just the thing you need to finally get out of debt once and for all.
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  • Debt consolidation with no credit requirement. A DMP helps you simplify and accelerate your debt repayment no matter your current credit score.
  • Administered by nonprofit organizations. Because most DMPs are provided by nonprofit credit counseling agencies, they’re designed to offer you the support, education and tools to get out of debt and stay out of debt.
  • Repayment in under five years. Most DMPs are designed to be completed in five years or less.
  • Reduced interest and major savings. We work with your creditors to negotiate reduced interest rates while on a DMP, resulting in significant savings by the time you’re paid off.
  • Paid in full and ready for your next big goal. By paying your debts in full, the DMP helps you rebuild your credit and prepare for whatever comes next.
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Debt Management Plan FAQs

Questions about debt management plans? Here are some of the most commonly asked questions and their answers.
Can I use a credit card while on a debt management plan?

Can I use a credit card while on a debt management plan?

Can I use a credit card while on a debt management plan?Creditors typically require that any credit card included in a debt management plan be closed to prevent additional charges. You may, however, be allowed to keep one card open and off your plan for emergency purposes.

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How long does a debt management plan stay on your credit?

How long does a debt management plan stay on your credit?

A DMP is not a loan or a line of credit and won't be listed as a creditor on your credit report. Accounts included on a DMP may show as being paid through a debt management plan, but this should disappear once the account has been paid off.

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Will a debt management plan hurt my credit?

Will a debt management plan hurt my credit?

Will a DMP hurt my credit?Your credit score may dip at the beginning of your DMP as your credit accounts are closed. This impact is usually temporary and your score should improve as you make your required monthly payments.

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How can a debt management plan impact my credit score?

How can a debt management plan impact my credit score?

A DMP is designed to help you make consistent payments and reduce overall debt levels. While there are no guarantees, DMP clients have seen a 62 point improvement in the first two years, on average.

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Are there fees associated with a DMP?

Are there fees associated with a DMP?

Are there fees?Yes. Most DMPs include an initial set-up fee, as well as a monthly fee, the amount of which is based on the size of your debt payments and your state of residence. However, you may be eligible for reduced or waived fees.
Will you talk to my creditors?

Will you talk to my creditors?

Will you talk to my creditors?All of our services are completely confidential. We will only contact your creditors if you decide to begin a DMP, in order to set up your repayment plan.
How quickly can I start a DMP?

How quickly can I start a DMP?

How quickly can I start a DMP?The first step is a review of your debts, expenses, and income in order to calculate your potential repayment plan. This process can take less than 15 minutes. If the proposed plan looks good, you can sign an agreement and make your first deposit almost immediately.
Can you help me even if I've missed some payments?

Can you help me even if I've missed some payments?

Can you help me even if I've missed some payments?You can still benefit from a debt management plan even if you've become delinquent on your credit card accounts. Depending on the creditor and the severity of the delinquency, your accounts may even be considered current after a certain number of DMP payments.
See more frequently asked questions

See more frequently asked questions

Still have a question? Check out our full list of FAQs.

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    MMI is certified by the U.S. Department of Housing and Urban Development (HUD) to provide consumer housing counseling. The mission of HUD is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD provides support services directly and through approved, local agencies like MMI.
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    MMI is proudly accredited by the Council on Accreditation (COA), an international, independent, nonprofit, human service accrediting organization. COA’s thorough, peer-reviewed accreditation process is designed to ensure that organizations like MMI are providing the highest standard of service and support for clients and employees alike.
  • National Foundation for Credit Counseling National Foundation for Credit Counseling
    MMI is a longstanding member of the National Foundation for Credit Counseling® (NFCC®), the nation’s largest nonprofit financial counseling organization. Founded in 1951, the NFCC’s mission is to promote financially responsible behavior and help member organizations like MMI deliver the highest-quality financial education and counseling services.