Can I keep my house if opt for DMP?
Date: Thu, 12/20/2018 - 22:45
Can I keep my house if opt for DMP?
DMP can only manage your
DMP can only manage your unsecured debt like credit card bill, medical bills, payday loans, personal loans, etc. Secured debts like a mortgage or car loan can't be paid off through a DMP.
Also, as Nick said, your house won't be taken away to repay any of the debts.
You can't repay your secured
You can't repay your secured loans through a DMP. Remember, your credit card debts are unsecured debts. If you are worried about your credit card debts, then the creditor can't take away your house. You can enroll in a DMP to repay your credit card debts.
You can't pay off secured
You can't pay off secured debt through a debt management plan.
Don't worry. Your house won't be taken away to repay your creditors.
A debt management plan helps you to pay off only unsecured debts by lowering your interest rates. It gives you a customized budget plan so that you can save money and manage your debts comfortably.