Overcome debt by Debt Management Plan

A Debt Management Plan (DMP) is a structured financial arrangement designed to help individuals overwhelmed by unsecured debts regain control of their finances. Typically administered by credit counseling agencies, a DMP involves negotiating with creditors to lower interest rates and establish an affordable repayment plan. Individuals make a single monthly payment to the agency, which then distributes the funds to creditors, simplifying the repayment process. DMPs provide a disciplined path to debt relief, often reducing the financial burden, and can assist in rebuilding one's financial stability over time.