How much will the debt management program cost me?

How much will the debt management program cost me?

Your costs may vary based on state regulations and the number of creditors you place on the program. Clients typically pay a nominal set-up cost to cover the expense of account activation, and a monthly servicing cost to cover recurring expenses. To find out your specific program costs, call us to speak with a representative.

What is a Voluntary Contribution?

Some CCAs accept a voluntary contribution to help cover some of the costs of the program. These voluntary contributions, along with the contributions made by some creditors, make it possible for these CCAs to help you and others in situations similar to yours.

How are credit counseling agencies funded?

Creditors fund Credit Counseling Agencies (CCAs) with voluntary contributions known as “Fair Share.” A few years ago creditors paid CCAs as much as 18-20% of the payments they handled from consumers, but now that percentage is down to 4% or less (many creditors pay nothing at all). While consumers' payments all go towards reducing debt, this funding drop makes it harder for CCAs to continue offering their services to those in need. In order to cover the expenses of helping those in debt, most CCAs ask consumers to contribute an additional amount, as a small monthly payment.