DMP vs Calling Creditors to Arrange

You will have to get a lower payment plan, either you arrange it yourself or take the professional help. If you can do the negotiations well, you won't need the services of the dmp, otherwise take their help.

In general, if you go for a debt consolidation plan, the principal amount is to be paid. The interest rates can be negotiated at the lowest and most of the fees are waived off. A good consultant will be able to cut off the debt by 40 to 60 percent excluding the principal amount.

If you consider a debt settlement, the total debt will be settled by 40 to 60 percent.

Use the DIY section for helpful tips. Some options are available here.

So when you call your creditors up, if they offer you a plan, you can negotiate it? I was under the impression you can only take what they can offer you.

If you show them money and prepare a fixed payment period, you may get some benefits. There might be some differences in the offers given to you, but you can always get the best one if you show them your payment interests.