Harold and Marian -- Avoided Bankruptcy Through the DMP

July 3rd, 2012

Harold and Marian* were planning to file bankruptcy when they heard about CCCS' Debt Management Plan.  An alternative to bankruptcy, the DMP would allow them to lower their interest rates and combine all accounts into one monthly payment. They would be able to pay off the $27,000 they owed within only 5 years.  They quickly called CCCS and scheduled an appointment to learn more.

couple with counselorHarold and Marian met with Ryan, certified credit counselor with 8 years of experience.  "After we discussed their personal situation, I explained the advantages of the Debt Management Plan.  If Harold and Marian qualified for a Chapter 13 bankruptcy, they would still be forced to make monthly payments to a trustee.  All the while, their credit scores would drop considerably and the bankruptcy would remain on record for 7 years, while other ramifications would last for life.  With the DMP, Harold and Marian's credit reports would reflect the fact that they are repaying their debts, allowing them to rebuild their credit scores more quickly."

Finding the DMP to be the proper solution to their struggles, Harold and Marian joined the program on August 25, 2007.  The worsening economy soon affected their income as work became scarce in Harold's industry.  Despite a tighter cash flow, the couple remained committed to paying off their debt, continuing to make their monthly payment.  Their hard work and determination soon paid off.  On July 2, 2012, Harold and Marian completed the DMP, paying off a grand total of $27,268!

Congratulations, Harold and Marian!  We're so glad that we were able to assist you in becoming debt free!  


 *Names have been altered to preserve anonymity.

If you are struggling with an overwhelming burden of debt, please don't hesitate to contact CCCS. Call (423)490-5620, email CCCSreception@PartnershipFCA.com, or live chat with a certified counselor right now!

To learn more about Consumer Credit Counseling Service, click here.
To learn more about the Debt Management Plan (DMP), click here.

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