Budget Care

Frequently Asked Questions (FAQ):

How does it work?

You make one convenient monthly payment to us and we disburse the funds to your enrolled creditors at our pre-negotiated concessions. You will have a new payment plan customized to meet your needs. Our Debt Management Program (DMP) is not a new loan or line of credit; it is designed to fully pay off your credit cards and unsecured lines of credit in a fast, convenient way without the negative impacts of Bankruptcy or Debt Settlement.

If a Debt Management Program is not the solution for you, we have diverse program options available for analysis.

As a creditor is paid off, is my program payment reduced?

Our standard DMP has a fixed payment for the term of the plan. This means that as an account is paid in full the funds are reallocated to the remaining accounts enrolled. We do have options available to lower the draft if hardship has occurred. Keep in mind, by lowering the draft amount you will be extending the term of payoff.

Do I have to include all of my credit cards?

No, most creditors do not require you to include all of your credit accounts. If you would like to exclude an account for emergency purposes you can do so.

Can I pay the accounts off sooner?

Yes, there are no pre-pay penalties or restrictions in our program. You can pay more than the minimum requirement at any time to shorten the duration of the plan. Simply contact us to schedule the additional draft.

What types of debt can be included?

The Debt Management Program (DMP) is primarily designed for major credit cards, store cards, retail accounts, and gas cards. We also work with some unsecured personal loans and lines of credit.