dmp

DMP is the way to go if you can afford the monthly payment. I think you made the right choice assuming you went with a reputable company. You should only consider debt settlement if you are overextended and can't afford a DMP.

Debt management or settlement - which one is best for you? It depends on your specific debt situation.

We need more information on your debt situation for helping you more.But I can mention some of the points: -

Debt management wouldn't affect your credit score adversely. In fact it will help you to improve your score. But on the other hand debt settlement can lower your score significantly.

Debt settlement can lower your total debt by 40 to 60%.

Please go through the following page for more information: -

Debt Management lowers monthly payment without hurting your credit

Debt settlement - How to get rid of debt without bankruptcy

debt management is the best option if you can swing it. You will not suffer with your credit and it will be great if you can make a go of it. Settlement is when you cant afford that payment in the long term. Consider your options if you can make the payment for a long period of time that the management co. offers to you. Its a longer process but better in the long run.

If you cant make a go of that then you need to consider settlement. Which is a great option too. But a little rougher on your credit but better than bk.

good luck with whatever you decide.