DMP HELL!!
Date: Fri, 04/03/2009 - 22:04
I am currently 4 mos into my DMP and while my interest is lower, not 18-31%, the minimum payment only saves me about $150 per month on my $36000 worth of cc debt. I was informed by my DMP company that after 12 months of payments they would be able to renegotiate my interest. How true is this? If it is not true I will be pissed to say the least.
the problem with DMP is that while it saves you from being in cc
the problem with DMP is that while it saves you from being in cc debt for decades (like you would be if you paid the min payments), it saves very little in monthly payments. have you considered other alternatives?
I have looked into settlements, and bankruptcy but unfortunately
I have looked into settlements, and bankruptcy but unfortunately because I have a security clearance I can't go over $5000 in collections. I will speak to my personnel department to see if there are any allowable options or programs available to me. If anyone has any info pls let me know?
Thanks for your response.
