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How much do you have to pay for a debt management plan?

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How much do you have to pay for a debt management plan?

They usually charge between $25-$50 each month. However, the set-up fee will be there, which varies by state.

Sub: #1 posted on Mon, 04/30/2018 - 06:38

Sanders Patricia Sanders Patricia

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The one-time set up fee can vary between $0 and $50. The monthly fee can vary between $0 and $75. Look for a good nonprofit debt credit counseling agency. That's a good option.

After from the fee, you have to make monthly payments to the debt management company every month. The payment amount depends on the amount you owe and how much creditors are willing to reduce your interest rate.

Sub: #2 posted on Mon, 04/30/2018 - 21:35

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There are no specific rules and regulations regarding the maximum amount a debt management company can charge you as fees. But as per the law, they are bound to make it clear how much you need to pay. The average set up fee of a debt management program is $40 which will not exceed $75. The monthly fee is considered $25 to $55. Most of the debt management companies will charge you this nominal fees (the amount may vary as per the state, and company) for maintaining your account and to meet the cost of counseling.

Sub: #3 posted on Thu, 05/03/2018 - 03:15

tiarajoseph11 tiarajoseph11

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When you're enrolling in a DMP, you're supposed to pay anything only after a debt is managed and paid off. You shouldn't pay any upfront fee. However, you need to pay an amount to start up the program.
It is better you ask everything before enrolling in a DMP. On the basis of your answers, you can choose a good debt management company to solve your debt problems.

Sub: #4 posted on Thu, 05/03/2018 - 07:20

Mabelle Page Mabelle Page

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