While not the perfect solution to all financial problems, a DMP or Debt Management Program can be a real lifeline for consumers that are drowning in debt and struggling to make the minimum payments on their monthly bills. That’s certainly true for this month’s example family. Not all debt can be included in a DMP. For instance, secured debts like homes and cars can’t be covered. However, credit card debts and some other unsecured debts do qualify.
This example is from an actual client that just started our DMP program this past month.
Here is a picture of their current situation:
Total unsecured debt covered by the DMP: $38,000
Monthly payment without DMP: $2,859
Now, let’s look at their situation while on the DMP program:
Monthly payment on the DMP: $1,273
Monthly Savings on the DMP: $1,586
All unsecured debts covered by the DMP will be paid off in 5 Years
Want to Learn More?
As we said earlier, a DMP is not for everyone, but it just might be for you. You can learn more by calling 937.853.1600 or by visiting our DMP page.