CCCS of Greater San Antonio

Debt Management

Debt Management Plan

The Debt Management Plan (DMP) is a plan to help you repay your creditors and an alternative to bankruptcy. We become the interface between you and your creditors. A counselor will determine the amount of the DMP deposit, which is based on the amount of debt you owe. The monthly DMP deposit also will include a monthly processing fee (maximum $50.00). Upon enrollment a $30.00 non-refundable start-fee will be due. Most of our funding comes from voluntary contributions from creditors who participate in the DMP. Creditors participate to prevent you from going bankrupt! Concessions are voluntary and creditors are not required to accept the proposed payments. Creditors determine what concessions will be provided and changes will not occur until after 3 consecutive monthly payments have been made. During the first 3 payments of being enrolled on the DMP you may continue to accrue high interest rates, late fees and over the limit fees. Calls from debt collectors may also continue for the first few months after being enrolled on the DMP.

The length of the plan is determined by how you make your payments. If you are consistent with your monthly payments, most plans are estimated 48 to 60 months.

This estimate will be determined at the time of enrollment. However, if you pay extra each month, you may complete the plan faster. If you miss payments, make partial payments or reduce your DMP the plan will take longer to pay off and you may lose some or all of your concessions.

To ensure success of your plan you will need to do the following:

Do not incur any new debts.
Make payments on time and do not miss or make partial payments.
Closely monitor your creditors' statements.
Funnel all creditor payments through us.
Open all of your mail, even though you are paying your creditors through us. Due to privacy requirements, we do not know what your exact balances are unless you provide creditor statements.
Report discrepancies immediately within that billing cycle.
Stay in touch with us to report change of name, address or phone numbers.

You might be a candidate for this plan if you can relate to the following:

You are behind with bills and debt collectors are calling.
You know you cannot keep up with regular monthly payments.
Experienced a reduction in income or increased living expenses.
Going through a divorce or separation.
Medical problems, you are out of work and bills are piling up.
Considering bankruptcy but hesitating due to the 10 years it will be on your credit rating.