Debt Management FAQs - Part 2
What types of debts can be included in a Debt Management Plan (DMP)? You would be able to include any credit cards, personal loans, medical bills, or collection accounts. What types of debts CANNOT be included in a DMP? You would not be able to include student loans, mortgage, auto loans, or personal loans that are secured by collateral. What are the costs associated with a DMP? There is a monthly service charge of $35* (included in your monthly payment to us), and a one time initial set-up fee of $55* (payable with your first month’s payment only). Unlike a debt settlement or debt relief agency, we do not charge fees based on a percentage of your debt, and the fees are nominal to cover administrative costs only, as we are a non-profit. There are no “hidden” fees. The only other fee you would ever see from CCCS is if your payment was returned (bounced check or returned ACH), and the amount of that fee is $25. *The amount of the monthly service charge and set-up fee may...