Finances
DEBT MANAGEMENT
The Debt Management Program (DMP) is a potential option to eliminate unsecured debt. It is also an alternative to bankruptcy. Catholic Charities' licensed Financial Health Counselors will work to:
The DMP allows a participant to make one payment to Catholic Charities Budget Counseling, Trust. A Debt Management Specialist will disburse your payment to your creditors. This can alleviate the stress of making multiple payments to multiple creditors. This program offers an organized way to eliminate debt within a realistic period of time (3-5 years).
This service is partly supported by program fees and by creditors who contribute through Fair Share.
What Does it Cost?
Debt Managment Program enrollment has a one-time, $25-setup fee and a $10-monthly service charge built into your monthly DMP payment. If your monthly DMP payment is less than $100 a month, this monthly service charge is 10% of your DMP payment.
Participation in the DMP requires a steady income with suitable budgets. Clients with a deficit on their budgets may have to continue to work on their deficit to bring it to a manageable level before enrolling in the DMP. Suitable enrollment for the DMP can be determined on the first appointment or after a few months of budget counseling. In order to help assess the suitability of the DMP, an Infopac application form must be completed and returned before scheduling an initial appointment. A DMP agreement form also must be completed when clients agree to enroll. Click below to access our Financial Health Infopac application form:
To learn more, please contact us at (920) 272-8234 or 1-877-500-3580 (extension 8234) or use the contact form below.