Benefits of a Debt Management Plan
Will enrolling in a debt management plan affect credit?
Enrolling in a DMP shows an individual is making payments through a credit counseling agency on the credit report. An individual’s credit score is not directly affected by joining a debt management plan; however, the credit score may have been affected by the amount of trouble the individual was in before enrolling. Debt management plans are designed to allow people the chance to rebuild and restore their credit, as well as reduce the overall debt faster.