What to Ask Before You Start A Debt Management Plan
 

All of the debt counseling scams currently luring consumers into debt management plans (DMP) are making it necessary to thoroughly screen your agency before you enter into any agreements with them. 

Below you will find a sample list of questions and issues you should address with your counseling agency prior to signing any agreements.

• What other services do you offer besides DMPs? Counseling, money skills?

• How do you determine the amount I owe each month?

• Will you negotiate with my creditors for lower interest rates?

• How do you ensure that all of my creditors agree to the plan? What happens if one does not?

• Will I get reports indicating if I am on-track with the DMP?

• These are a few of the starter question it is important to know before signing for a DMP? ■