We would like to thank Creditdirect.com for sending you to the FCAA website for help with your unsecured credit card debts.
The FCAA is pleased to be able to refer you to its member agencies, which are all 501 (c)(3) nonprofit credit counseling agencies. All FCAA members are licensed or registered to provide debt management plans (DMP) to qualifying consumers. All FCAA member agencies are here to help you get out of debt and get back on the road to financial stability, which could ultimately help you improve your all-important credit score.
A debt management plan could be for you if:
- You are struggling to make your monthly payments
- You like the idea of repaying your debts in full and not being harassed by creditors/collectors
- You want to create positive payment history in your credit report
Please complete this form to be contacted by a certified credit counselor. There is no obligation to enroll, and no fee to have the initial conversation.
Do you want to learn more about a DMP before moving forward? Please read on!
A debt management plan, or DMP, is a plan designed to help consumers experiencing financial hardship repay their unsecured debts in full.
Here are key takeways about DMPs:
- Monthly payments on enrolled accounts are typically lower, saving you money as you repay your debt.
- Account balances are generally paid in full within five years.
- Most creditors will reduce interest rates on outstanding card balances.
- Many creditors will also waive late or over limit fees.
- All credit cards enrolled in the plan must be closed.
- As payments are being made monthly, calls from creditors/collectors will stop.
- Depending upon the creditor, accounts may be reported as current to the credit bureaus.
- You’ll have the convenience of making one payment to the counseling agency, which will electronically disburse payments to each creditor enrolled in your plan.
- You’ll usually pay modest fees for participation in a DMP. These fees are typically state-regulated, and some clients pay no DMP fees whatsoever.
- Non-profit counseling agencies are primarily supported by the fees you pay for enrollment in a debt management plan. Most agencies also receive donations from the creditor community in recognition of the budgeting and educational support provided to DMP clients.