Frequently Asked
Questions
What information do I need to enroll?
A Debt Management Plan
(DMP) is a mutual agreement between you and a debt relief organization. You agree to repay your unsecured debts in full over time, without taking on any more debt. In return, Student Debt Consolidation will agree to significantly reduce your interest charges and stop late and over-the-limit fees.
How will a Debt Management Plan help me?
A Debt Management Plan (DMP) is a
mutual agreement between you and a debt relief organization. You agree to repay your unsecured debts in full over time, without taking on any more debt. Then Student Debt Consolidation will agree to significantly reduce your interest charges.
Will a debt relief plan stop collection calls?
Collection calls usually stop after the third consecutive payment. If you continue to receive collection calls after your creditor has posted three consecutive payments, please contact us by e-mail with the name of the creditor and the last four digits of the account number to allow us an opportunity to investigate.
Can you help me with my budget?
Absolutely. Completing a budget can be a frustrating process. We will help you build a budget which will help you monitor your monthly expenses.
Do I continue paying creditors after enrollment?
If there's money leftover and you have credit card payments due before the plan gets underway, go ahead and pay the bills. If you're not able to pay the credit card payments due before the plan goes into effect, you may see late fees reflected on your next creditor statements. Late fees are typically eliminated after three consecutive payments on our program.
When is my payment due?
You should pick the payment date that works best for you. You may choose any day from the 1st to the 28th of every month. You must choose your first payment date to be made within 30 days of enrollment.
