Preguntas comunes sobre los programas de manejo de deudas

Thinking About a Debt Management Program? Start Here.

Maybe you’ve been making payments but not seeing the balance budge. Or one expense turned into a balance that’s now hard to ignore. However you got here, if you’ve started looking into a Debt Management ProgramDebt Management Program, you’ve probably also got a list of questions.

That's a good thing! The more you understand your options, the more confident you'll feel moving forward. Let's walk through the most frequent questions together.

What is a Debt Management Program and how does it work?

A Debt Management Program (DMP) is a structured plan offered by nonprofit credit counseling agencies, such as GreenPath, to help individuals pay off unsecured debts through a single, manageable monthly payment.

Each payday, you deposit funds into a secure GreenPath account, and we pay your creditors on your behalf.

Who is eligible for a DMP?

The DMP is designed for people with unsecured debtunsecured debt, such as credit cards, department store cards, medical bills, or personal loans, and the program is tailored to your unique financial situation.

A DMP can be a smart solution for those struggling with high-interest credit card debt. Es especialmente valioso si:

• Hacer solo pagos mínimos y no ver progreso
• Hacer malabarismos con varias cuentas de tarjetas de crédito
• Enfrentar intereses crecientes que dificultan el pago de saldos

How much could I save on a DMP versus repaying debt on my own?

While every situation is different, many people see meaningful savings with a DMP. For the average DMP client:

• Interest rates can drop from about 28% to 6.6%, helping more of each payment go toward your balance
• Monthly payments decrease by about $199
• Interest savings add up to roughly $29,700 over time
• Debt is paid off faster (about 7 years sooner)

How do I know a DMP isn’t a scam?

GreenPath is a trusted national nonprofit. Since 1961, we've helped households across the country repay billions of dollars in debt. We don't work for banks, but we do partner with more than 650 banks, credit unions, and employers nationwide. Creditors often support DMPs because they see the results: people repaying debt in a manageable way that leads to long-term stability.

¿Cuánto cuesta un programa de manejo de deudas?

DMP setup fees and monthly fees vary based on your state of residence and debt amount. En promedio, a los clientes de GreenPath se les cobra un cargo de inscripción por única vez de $35 y un cargo mensual de $31. Esto es mínimo teniendo en cuenta la cantidad de dinero que suelen ahorrar nuestros clientes en cargos por mora y cargos por sobregiro condonados y cargos por intereses de tarjeta de crédito más bajos.

¿Tengo que firmar un contrato si comienzo un programa de manejo de deudas?

There is an agreement you will sign when starting a DMP. The agreement specifies program details and gives us permission to pay creditors on your behalf. The agreement is not binding, and you can cancel the program at any time.

Will enrolling hurt my credit score?

GreenPath does not report to credit bureaus (Experian, TransUnion, or Equifax). You may see a temporary dip at first, especially as accounts close.

Over time, many people see improvement. Consistent, on-time payments and decreasing balances are positive signals your credit history will reflect.

¿Son los programas de manejos de deudas diferentes de la liquidación de deudas?

Yes. Debt management programs are designed to pay off the entire amount you owe in 3 to 5 years. Si podemos reducir sus tasas de interés, el monto total que pagará a la compañía de su tarjeta de crédito suele ser menor que si pagara por su cuenta.

La liquidación de deudas generalmente implica solicitar a las compañías de tarjetas de crédito que condonen una parte de su deuda a cambio de un pago único. Be sure to understand the risks of debt settlementunderstand the risks of debt settlement if you’re considering this option.

¿Cuál es la diferencia entre los programas de manejo de deudas y la consolidación de deudas?

A DMP is set up through a nonprofit credit counseling agency like GreenPath. Instead of taking out a new loan, your existing debts are included in a structured repayment program. Your creditors may agree to lower interest rates and fees, and you make one consistent monthly payment based on what fits your budget.

Debt consolidationDebt consolidation typically means taking out a new loan (or using a balance transfer card) to combine multiple debts into one. While this can simplify payments, it doesn’t always reduce interest rates—and approval often depends on your credit score.

Can I keep some credit card accounts open?

Since the goal of a DMP is to eliminate your debt, this process begins with closing the credit cards included in your program. If you need to keep one card for emergencies or business, we can evaluate your options together.

What is a proposal?

A proposal is a document sent to your creditors requesting adjusted terms—like a new payment amount, lower interest rate, or other concessions.

It’s what helps make repayment more manageable by aligning your accounts into a more consistent structure.

What are concessions?

Concessions are the adjustments creditors may agree to, such as reduced interest rates, extended repayment periods, or waived fees.

These changes are a big part of what makes a DMP effective—lowering costs and making payments more predictable.

How long will the program take?

Contracts are typically for the maximum period allowed by the state (60 months). Early completion due to creditor concessions will successfully close your DMP.

Still have questions? Let’s talk.

You can connect with HUD- and NFCC-certified GreenPath counselors during business hours for a free, confidential consultation and also check out our FAQ page.FAQ page.

And if you’re already enrolled in GreenPath’s DMP, you have access to a private online community where people share advice, ask questions, and support each other along the way.