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Any one with recent (2018) experiences with DMP?

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Have about $45k of CC debt on mostly Chase consumer cards, a few Citi consumer, one Amex consumer, and two business (Chase and Amex). Credit score is mid 600s due to high utilization. Stopped using all cards back in January and have been making minimum payments until last month when I was finally able to start an avalanche. I'm considering a DMP because of the promise of lower total interest payments.

Does anyone have any recent (within the past 12 months) experience being on a DMP with Chase, Citi, and/or Amex as creditors? What got reported on your credit report? Did all of the creditors accept the terms or did some push back? Which company did you use for your DMP?


Sub: #1 posted on Mon, 08/20/2018 - 21:35

David Martin David Martin

(Posts: 394 | Credits: )

It is up to the settlement company that how they will negotiate with the creditors. Based on the negotiation they can even help you to settle your debts to 50% to 40%.
It will be reported on your credit report as you have opted for a DMP.

Sub: #2 posted on Thu, 08/23/2018 - 04:32

tiarajoseph11 tiarajoseph11

(Posts: 467 | Credits: )

Make sure the company is BBB accredited. If the company is good, all your debt problems will be solved. Don't worry. However, how do you know about the debt avalanche method? Are you still following this method? Good to know that people are considering this DIY debt relief method to get out of debt.

Sub: #3 posted on Fri, 08/24/2018 - 04:55

Sanders Patricia Sanders Patricia

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