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Can you make bi-weekly payments in debt management program?

Submitted by Troy on Fri, 07/22/2016 - 02:54
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Can you make bi-weekly payments in debt management program?


You can make bi-weekly payments to the debt management company, provided they allow you to do so. Your creditors expect a payment every 30 days. The debt management company chooses a date on which they make payments every month to your creditors after taking out the money from your account.


Submitted by Phil Bradford on Mon, 07/25/2016 - 04:48

Phil Bradford

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One of the advantages of enrolling in a debt management plan/program (DMP) is that you can make a single monthly payment towards paying off your multiple debts. Usually in a DMP, you agree to pay a certain amount to the debt management company or the counseling agency once a month. So, if it's easier for you to make bi-weekly payments, then have a talk with the company. However, make sure you have the desired amount at a certain date every month, when the company deducts money from your account to make the respective payments to the creditors as per agreement.


Submitted by Good Nelly on Tue, 07/26/2016 - 04:01

Good Nelly

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