Debt Management Plan – Is It Right for Me?

When a person is in debt, it is highly likely that they get behind the schedule, run out of money, or cannot repay their payments for a long time, and now they are getting constant calls from their lenders. A great alternative and remedy for this issue can be a Debt Plan. Delray Beach residents can now lay back and relax as this article will help you know what a debt management plan is and how it can benefit you.

Debt Management Plan

A fixed monthly payment plan that is arranged between you and your lenders – the companies to whom you need to repay the money, is known as The Debt Plan. Delray Beach has several companies that operate these debt plans and talk to the lenders on your behalf to let you borrow the amount and manage a payment plan that you both can agree on. 

Debt plans settle unsecured debts such as the amount which is not guaranteed by your property. You are basically committing to repay your debts fully and on time, and the debt management plan makes sure that you do it with complete responsibility.

The debt plan is set according to the amount you earn and how much you will be repaying monthly to the creditor.  This amount is then evenly divided among all of your lenders, and if you are lucky, they might agree to hold, decrease, or even take no interest charges. But there is no guarantee that they will agree to this; they might increase the interest rates or continue with the one decided. Your lenders can keep calling you or even take you to court if you fail to repay them fully.

Many firms will require you to pay to design your debt plan, while others might do it for free. It would be better to seek professional advice before setting and committing to a plan with your lender.

Advantages of Debt Management Plan


  • Help Streamline Matters by Making a Single Payment

When you have multiple debts, it gets hectic and confusing to pay every single one of them separately. Having a debt plan makes it easier as you deposit a single amount to your credit counseling agency. From there, they manage your further payments themselves and send the monthly payment to creditors on your behalf.

  • Assist You with Decreased Interest Rates

It is very common for the creditors to charge high interest rates or keep increasing them over time. Your debt plan helps you lower the interest rates, making it way easier for you to repay the debts while boosting your cash flow.


  • Manages to Lessen Recovery Calls

Collection calls are not just a reminder but a constant source of stress. If you are done with multiple recovery calls, your ultimate solution is a debt plan. Delray Beach creditors can be very difficult when it comes to recovery; trust us, you do not want to face that. 

  • Waive off Your Fees

You can also benefit from getting your future consultation fee after opting for a debt management plan. Once you have registered for designing a debt management plan and professional consultation, your counselor can negotiate to decrease or completely waive off your fees for future consultation providing your debt is with the same lender. This will help you save money and get back on track faster. 

  • Provide You with Debt Liberation

A debt management plan will take around 30-60 months to settle debts. However, your accounts will still be charged with the full amount you owe. A debt management plan will assist you in getting out of debt and push you back on the right trajectory to improve your credits and economic well-being.

Get You Debt Management Plan with John Mufson

These advantages are available if you are on a debt management plan with John Mufson. Of course, you may organize your debt management plan if you are familiar with calculating your monthly income, taxes, payment for your lenders, negotiating the interest rates, paying multiple monthly installments, and handling any difficulties that arise.

Or you could just relax and let us do all of this for you with complete surety and security. Our services have promising results and multiple satisfied customers, which is why we charge consultation fees. Contact us right now to learn more about how can we help you get out of debt.