Together, we can build a plan to fit your needs.

If you are overextended with credit card debt and other unsecured obligations, our Debt Management Plan (DMP) provides an organized way to pay down your outstanding debt.

Our counselor will review your income and expenses in detail. Then they will develop a clear view of your financial options. If appropriate, your counselor will explain a DMP to you, providing a payout forecast that defines the time it will take to repay your debts. And it will identify the amount of money you will save in interest payments and fees by choosing this option instead of making the minimum monthly payments.

We will work with your creditors to reduce interest rates, waive late fees and over-limit fees. And we will design a manageable, tailored repayment plan with affordable monthly payments.

With one payment to make, you may find peace of mind.

Once enrolled in a DMP, you will make monthly deposits to CredAbility. In turn, we distribute the funds to all of your creditors and your full payment is posted to the account. As creditors begin receiving regular payments on your accounts, the collection calls will stop, or reduce significantly.

By making consistent payments, you can help rebuild your credit. For those on a DMP, creditors will often:

• Remove accounts from collections
• Eliminate late payments from credit reports
• Reduce overall interest rates

If you enroll in a DMP, it is important that you commit to making your payment every month, without exception. If you miss a payment, creditors who have waived fees and reduced interest rates may reinstate them and resume charges on your account.

We can help lower your interest rates and fees.

Once enrolled in a DMP, most of your creditors will stop late fees and over-limit fees—as long as your payments are on time. You can expect creditor interest rates from 6% to 10%. Often, they can drop to 2% or lower. And lower interest rates may mean lower minimum payments for you. Your minimum payments can be 2.3% of the balance and, in some cases, 2% or less.

Depending on the amount of your debt and your monthly budget, it can take up to 60 months to complete a DMP. When you finish, you will have repaid your entire obligation and regained your financial confidence. Then, we will work with you as you begin to re-establish and maintain your credit.