Debt Management

Debt Management

Debt doesn’t always have to be a bad thing, in fact, debt can sometimes be an extremely useful tool to start and grow your business but all too often that debt can quickly spiral out of control and become a huge problem very quickly. With the proper help and guidance, you can create a plan of action to easily mitigate that risk. We’re here to help connect you with the right knowledge to do just that.

Benefits & Savings

Articles & Resources

FAQs

Yes, your debt management plan should incorporate all unsecured loans. In other words, all revolving credit accounts will be permanently canceled. This debt repayment plan's goal is to aid clients in getting out of debt.
You must cancel any credit cards that are included in your DMP. The creditor, which is usually a bank or other financial institution, collaborates with MMI to develop a DMP, which often includes lower interest rates on your credit card accounts. This is how it works. Lower interest rates benefit both you and the creditor since they make it simpler for you to pay off your obligation, which guarantees that the creditor will get payment.
As your credit accounts close at the beginning of your DMP, your credit score can temporarily dip. However, this effect is temporary, and as long as you keep making your minimum monthly payments, your credit score should continue to improve.