If you’re having trouble paying your credit card bills every month, a debt management plan from a nonprofit credit counseling agency might be the help you need.
A debt management plan has less effect on your credit score than other debt payoff options, like debt settlement or bankruptcy, and can help you pay down credit card debt while saving on interest.
What is a debt management plan?
A debt management plan is a type of financial product offered by credit counseling agencies that can help you pay off unsecured debts, like credit cards and personal loans. Secured debts — such as mortgages or car loans — and student loan debt aren’t covered.
A debt management plan lumps your debt payments into a single payment, reduces your interest…
