Why do I need to close my accounts if I choose DMP?

I heard that I have to close the credit card accounts when I enter into a DMP. Somehow, this doesn't sound right to me. Will my credit score not take a hit if the credit accounts are closed?
2 Answers

Ask Question

Waterfall approach to debt free ™

Legal debt relief methodology that works based on your financial conditions.Learn more »

  • expertise badge
  • This site is verified as a Trusted Site by Best of the Web
  • TrustLink logoTrustLink logo
  • Customer ratings on BBB
  • IAPDA logo
  • Calchamber Member
  • Calbar Registered
  • D&B
  • Godaddy
  • yelp logo