Can I keep my house if opt for DMP?
Date: Thu, 12/20/2018 - 22:45
DMP can only manage your
DMP can only manage your unsecured debt like credit card bill, medical bills, payday loans, personal loans, etc. Secured debts like a mortgage or car loan can't be paid off through a DMP.
Also, as Nick said, your house won't be taken away to repay any of the debts.
You can't repay your secured
You can't repay your secured loans through a DMP. Remember, your credit card debts are unsecured debts. If you are worried about your credit card debts, then the creditor can't take away your house. You can enroll in a DMP to repay your credit card debts.
You can't pay off secured
You can't pay off secured debt through a debt management plan.
Don't worry. Your house won't be taken away to repay your creditors.
A debt management plan helps you to pay off only unsecured debts by lowering your interest rates. It gives you a customized budget plan so that you can save money and manage your debts comfortably.