Can you make bi-weekly payments in debt management program?
Date: Fri, 07/22/2016 - 02:54
Can you make bi-weekly payments in debt management program?
You can make bi-weekly
You can make bi-weekly payments to the debt management company, provided they allow you to do so. Your creditors expect a payment every 30 days. The debt management company chooses a date on which they make payments every month to your creditors after taking out the money from your account.
One of the advantages of
One of the advantages of enrolling in a debt management plan/program (DMP) is that you can make a single monthly payment towards paying off your multiple debts. Usually in a DMP, you agree to pay a certain amount to the debt management company or the counseling agency once a month. So, if it's easier for you to make bi-weekly payments, then have a talk with the company. However, make sure you have the desired amount at a certain date every month, when the company deducts money from your account to make the respective payments to the creditors as per agreement.