Are there any set standards to be considered eligible for a DMP? Is there any fixed debt limit? I got several credit card debts amounting to around $6k, which I’m finding extremely difficult to be regular with. Can I sign up with a debt management plan?

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No, there isn’t any set limit of debt that you must or mustn’t have when trying to pay your bills through a debt management program or plan. Yes, you can try to resolve your dues with a DMP. Sit for the counseling session with a consumer credit counseling agency. The counselors will be able to guide you better in accordance with your debt situation, your creditors, and offer you the right solution.                                                                

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Last Updated on: Fri, 8 Jun 2018

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