Loans

Downsides of Using a Debt Management Plan

Debt management plans are used by credit counseling agencies to help you get back on track with your credit. Although there are plenty of perks such as they will act as your middleman and your score will increase over time, there are some downsides to this too.

For instance…your credit score likely will dip: Because you’ll have to close some accounts, your credit score will likely take a hit.

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