Debt resolution plans

While the debt management plan (DMP) has helped millions of families and individuals become debt-free over the years, sometimes repaying your debts in full just isn’t a viable option. That’s why we’re so excited to introduce the debt resolution plan (DRP).

What’s a debt resolution plan?

A DRP is similar to a standard debt settlement: MMI negotiates with your creditors for a partial repayment of your debts. Once the agreed upon payoff is completed, your debts are considered paid off and you are officially debt-free.

Because a DRP is only a partial repayment of your outstanding debt, the monthly payment is smaller and more manageable than other debt repayment options.

How does it work?

In a DRP, you make monthly deposits to MMI while we contact your creditors and begin the negotiation process. Once each creditor agrees to our proposed terms, we’ll begin to make payments on your behalf.

And that’s it. While you’re on the DRP, you can refer debt collectors and creditors to MMI and let us do the talking.

How does it compare to for-profit settlement?

MMI’s debt resolution plan has the same benefits of debt settlement, but with some key perks:

Lower fees

MMI’s DRP is more affordable than traditional debt settlement, with a more transparent fee structure. As a nonprofit, we have access to creditor payment platforms that are much less expensive than the ones used by for-profit settlement companies, allowing us to pass those savings on to you.

User-friendly fee structure

Most for-profit debt settlement companies take their entire fee after the first payment to a creditor, prioritizing their payment over your success.

At MMI, we spread our fees over the life of the settlement, collecting our fees as each creditor account is successfully settled and paid off. In states where regulations allow, we offer a flat monthly fee, providing a straightforward and predictable payment structure.

No commitment

If you feel like the DRP isn’t working for you, you can cancel any time. We’ll refund any collected funds that haven’t been paid to your creditors or collected as fees for service.

If you’re overwhelmed with collection calls and other debt repayment options are out of reach, a DRP might be the solution you’ve been waiting for.

How much of my debt will I have to pay?

We’ll work with your creditors to get the lowest possible payoff. While we can’t guarantee a specific percentage, we may be able to negotiate a payoff as low as 50% of the original balance.

What are the fees for a DRP?

In most states MMI will charge a total fee of 15% of the original balance. In other states, you may instead be charged a flat monthly fee determined by your state’s regulations.

Do I have to be behind on my debts to use a DRP?

The DRP is only appropriate for consumers with debts that are delinquent or charged off. MMI does not recommend intentionally withholding payments from creditors to qualify for a DRP.

Can creditors take legal action against me while on a DRP?

A DRP does not prevent a creditor from taking legal action to recover unpaid debts. To protect and support you through any potential legal action, MMI offers DRP clients an optional monthly legal services plan.

Will collection efforts stop while I’m on a DRP?

While MMI can communicate with your creditors on your behalf, we cannot stop your creditors from continuing collection efforts while on the DRP.

Is there a fee to cancel my DRP?

There’s no fee or penalty to cancel your DRP and any collected funds that haven’t been disbursed to your creditors or collected as fees for service will be refunded.

Get started with a Debt Resolution Plan.

If you’re tired of all the calls, letters, and text messages from debt collectors, but you haven’t found a plan that you could actually afford, a debt resolution plan may be just what you’ve been waiting for.

Debt counselors are available to review your situation and see if a debt resolution plan is right for you. Give us a call and see how easy it is to become debt-free with a DRP.

Call 877-916-2227

Better Business Bureau

MMI is proud to have achieved an A+ rating from the Better Business Bureau (BBB), a nonprofit organization focused on promoting and improving marketplace trust. The BBB investigates charges of fraud against both consumers and businesses, sets standards for truthfulness in advertising, and evaluates the trustworthiness of businesses and charities, providing a score from A+ (highest) to F (lowest).
Financial Counseling Association of America

MMI is a proud member of the Financial Counseling Association of America (FCAA), a national association representing financial counseling companies that provide consumer credit counseling, housing counseling, student loan counseling, bankruptcy counseling, debt management, and various financial education services.
Trustpilot

MMI is rated as “Excellent” (4.9/5) by reviewers on Trustpilot, a global, online consumer review platform dedicated to openness and transparency. Since 2007, Trustpilot has received over 116 million customer reviews for nearly 500,000 different websites and businesses. See what others are saying about the work we do.
Department of Housing and Urban Development

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.
Council On Accreditation

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

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.