Debt Management

Debt Management

In addition to free budget counseling, CCOA offers a plan to help you get out of debt.

A Debt Management Plan (DMP) consolidates your unsecured debt (such as credit cards and medical bills) into one monthly payment. CCOA will work with your creditors to get lowered interest rates, stop fees, and stop collection calls. With the lowered interest rates while on the program, you not only have the simplicity of one payment a month, but you also get out of debt and on with your life sooner, typically in 3-5 years.

The only fee associated with CCOA's DMP is a monthly maintenance fee for the DMP service for $45, depending on your monthly disbursement to your credtiors.

All budget counseling appointments are FREE, so don’t hesitate!

During your session, you and your certified counselor will create a budget, talk about your financial goals, and make a plan of action to reach those goals.
Your counselor can give you recommendations on various topics including:

  • How to raise household income
  • How to set spending priorities on monthly expenses
  • How to sequence your debt payments for maximum benefits
  • Debt management vs. debt settlement
  • The advantages and disadvantages of using debt settlement as a tool
  • The role of bankruptcy in addressing debt problems
  • The impact of financial options on your credit standings
  • How to make use of community resources to lower monthly expenses
  • How to deal with aggressive creditor tactics
  • The potential use of a Debt Management Plan (DMP) to make payments to your unsecured creditors

Appointments are approximately one hour and are offered in-person, over the phone and online.

All sessions are available in English, Spanish, and can be arranged to have a Marshallese interpreter available.