Debt Management Plan

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The Debt Management Plan (DMP) is designed for consumers who may need assistance with repaying their debt. For clients who demonstrate an ability to make regular monthly payments, the DMP has many benefits. These may include

  • reduced interest rates, 
  • lower payments, 
  • waived late 
  • and over the limit fees and accounts brought current so that they are no longer delinquent.

With regular monthly payments DMP clients should become debt-free within 5 years. DMP clients also benefit from having the CCCS staff support them through the entire debt repayment process. If you need on-going assistance to become debt-free the DMP may be a great choice for you.

While counseling is free, there is an administrative cost for the Debt Management Plan (DMP). CCCS of Central Oklahoma strives to keep our fees among some of the lowest in the nation. Monthly fees range from $10 to $35 and there is a one-time set up fee of $40.00. Many clients find that even with the fees, their monthly payments on the DMP are still lower than the payments they were making on their own. There are no hidden fees and we would never keep your first payment as our fee.

While on the DMP, clients make a payment every month to CCCS. We then disburse the funds to the creditors every week. In exchange for regular monthly payments, creditors will grant benefits such as reduced interest rates and waived fees. As accounts pay off, the money is then rolled onto other accounts in order to increase the payments. Using this payout system combined with lowered interest rates, most consumers are debt-free in 5 years or less. In fact, our average client is debt-free within 4 years.

One common myth is that creditors will lower your interest for you directly so the DMP is unnecessary. While it is true that some creditors may make special hardship arrangements directly with some consumers, many do not. It often depends on the delinquency of your account and the creditor’s policy. Sadly, some of these programs are only for a limited time. As a part of the National Foundation for Credit Counseling (NFCC), CCCS clients get the benefit of special arrangements that the NFCC negotiates with creditors.

Another DMP benefit is that if creditors have questions, they typically call us instead of you. This can be a great way to stop those collection calls and let CCCS help you to become debt-free. If you have any additional questions about the DMP, please contact us today.

If you have any questions, please contact us at:

Metro OKC Area call: 405-789-2227

Outside of OKC Metro Area call: 800-364-2227

Keys to a Successful DMP