Check a debt management plan offer
Start with the written offer. This tool shows what the quoted payments could cost, including the money paid to the agency. You can check one account first and add the rest.
A short checklist you can use now
Choose what you have checked. These checkmarks are not saved. The downloaded worksheet has these steps and space for your own notes; nothing is sent to the biller.
My next action / date: ______________________________
Person or department to contact: ____________________
Where I kept the written reply: _____________________
Check these terms
The current account is an example. Proposed rates and payments start blank: enter the actual quoted terms. Use 0 for a fee only if no fee applies. No creditor concession is assumed.
All amounts are US dollars. Use numbers without thousands separators and a point for up to two decimals, for example 1250.50. Rates are annual rates, not monthly rates.
The tool is loading. If it stays unavailable, use the checklist and worked example below.
This tool calculates in your browser and does not save or send your entries. It does not connect to an AI service. A download happens only when you choose it. Do not enter account or patient identifiers.
What a DMP changes
A debt management plan is a payment arrangement organized through credit counseling for included unsecured debts. It is different from a loan or an agreement to settle for less than you owe. Creditors may offer concessions, but confirm their acceptance and the terms before sending payments to the organization. FTC: debt management plans.
Questions worth asking before signing
Ask for the full fee quote, available fee waivers, counselor qualifications and a written agreement. Confirm whether accounts must close and what happens if you miss a payment. A nonprofit label does not mean free service. A counselor should review your situation and discuss alternatives, not prescribe a DMP automatically. CFPB: choosing credit counseling.
How to read this comparison
Use the same enrolled balances and the actual payment allocated to each creditor. The current side keeps today’s entered payments fixed. The offer side uses each quoted rate and creditor payment. Neither side transfers freed payments to another account. If your written plan reallocates payments, request its schedule: this model will not reproduce it.
Rates remain fixed; monthly interest is applied before the payment. Agency fees are separate cash outflow. A monthly fee is charged through the final repayment month; ask whether your agency instead changes it. No comparison of total cost appears if either scenario cannot finish within 1,200 months. New borrowing, missed payments, changing minimums and credit-score effects are excluded.
Worked example without JavaScript
For a fictional $1,000 balance at 0% with a $100 creditor payment, the debt needs 10 monthly payments. A $25 setup fee plus $5 each month adds $75. The total cash is $1,075: $25 before repayment, then $105 for each of 10 months. This is arithmetic, not a predicted offer.
Your next useful action
Compare the first month’s cash and the complete cost with the written quote. If something differs, ask the counselor to explain the allocation and fee timing. For a plan that reuses freed payments, try our debt payoff calculator. For affordability, check your monthly budget and payment dates.