DMP Question
Date: Mon, 11/27/2006 - 11:26
Here is my situation. I joined a DMP with debt solutions, INC. Apparently, Debt Solutions put together a financial plan for my program ($282), and then it was transferred over to Debt-Free America who is now monitoring my program and the one distributing my payments. As I pay monthly to debt free America (nonprofit) to pay my creditors, I'm also paying a $15 fee to Debt Solutions for the life of my program. Is this how a DMP works??
Yes, most companies will charge a fee in the debt management pro
Yes, most companies will charge a fee in the debt management program. You can adjust the fees in your monthly payments set with the counselor. There are very few companies that are non profit organizations.
You signed the contract with debt solutions. Was that including the monthly fee? How come debt free America comes into picture after that?
I'm not sure where debt free america came into picture. To be ho
I'm not sure where debt free america came into picture. To be honest I didn't read the fine print in the contract to well either as I was just glad to be in the program at the time. According to debt solutions, they are the ones who signed me up for the program and then it was passed on to Debt Free America who is now administering it. Debt Solutions is located in Florida and Debt Free America is located in CA where I'm at. Does that make a difference though?
Do you have the contract copy with you? See the fee structure. I
Do you have the contract copy with you? See the fee structure. It is very important knowing the terms set in the program. Not knowing about the program, you lose the fair chance to dispute anything if it is going wrong.