Debt Management Credit Counseling Corp.

Debt Management Credit Counseling Corp. Reviews

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About Debt Management Credit Counseling Corp.

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Since 1999, Debt Management Credit Counseling Corp. (DMCC) has been dedicated to helping consumers repay their debts. As a nonprofit organization, its certified counselors offer budgeting assistance, debt management plans (DMPs), credit counseling and financial education. It provides debt management services remotely and can serve clients in all 50 states and Washington, D.C.

    Pros & Cons

    • Helps with payday loans
    • Spanish available
    • Not all pricing listed

    What is Debt Management Credit Counseling Corp.?

    DMCC offers both free and paid financial services. It provides free educational tools to the public and its clients through seminars at local high schools and community centers. DMCC's certified credit counselors are trained and certified by the National Association of Certified Credit Counselors (NACCC) and the Financial Counseling Association of America (FCAA).

    One unique service that DMCC offers is payday loan assistance, which is a  program that offers consumers a way to break the cycle of payday loan debt. Payday loans are a type of predatory lending with most balances due at the time of your next paycheck. DMCC’s program gives clients between six and 12 months to repay their payday loan.

    How does Debt Management Credit Counseling Corp. work?

    For DMCC’s debt management plan, there are three phases that every client goes through:

    1. In the enrollment phase, you list all of your unsecured debts, and DMCC gives you a quote for a monthly payment plan. This monthly cost is designed to stay the same for the entirety of the program, even if it takes you five years to be debt-free.
    2. Once you agree to this quote, you will set up an Automated Clearing House (ACH) payment and contact your creditors to let them know you have enrolled in a DMP and want to close your account. DMCC will also contact your creditors for program approval and to negotiate a reduction to your interest rate.
    3. You will then make regular monthly payments until your debt is repaid.

    Debt Management Credit Counseling Corp. products and services

    DMCC offers a variety of services and educational tools to help clients with their finances:

    Credit counseling
    Using your yearly free credit report , DMCC offers a Credit Report Analysis program that shows you how to improve your credit score.
    Debt management plans
    With a DMP, you pay a set amount each month to DMCC, in addition to a manageable monthly fee (which is set by your state). DMCC will work with your creditors to lower the interest rate so you can repay your debt in full faster.
    Bankruptcy counseling
    DMCC is approved to issue certificates in compliance with the Bankruptcy Code. It offers counseling sessions for pre-filing bankruptcy and post-bankruptcy with one flat rate for singles and couples alike. This counseling service is available in English and Spanish.
    Housing counseling
    Whether you are a first-time homebuyer or need the required counseling before getting a reverse mortgage, DMCC offers programs for you. It also offers foreclosure prevention help and rental assistance.

    How much does Debt Management Credit Counseling Corp. cost?

    Some of DMCC’s counseling services are completely free. Other plans, like the DMP, have a setup fee and monthly fee set by your state.

    While DMCC does not publish all of its prices, it did post these fees:

    • Credit report analysis: $49
    • First-time homebuyer course: $30
    • Bankruptcy counseling: $25 to $30

    Debt Management Credit Counseling Corp. FAQ

    What happens if I miss a payment on my DMP?

    Most creditors will terminate your benefits if a payment is missed during a billing cycle, and some will not allow you to reenter a DMP agreement for one to five years.

    Can Debt Management Credit Counseling Corp. help with student loans?

    While you cannot enroll your student debt into a DMP, DMCC has student loan resources to help individuals with federal loans pursue deferment or forbearance, loan consolidation, a new payment plan or discharge/forgiveness.

    Does DMCC offer debt settlement services?

    DMCC offers a program that is similar to debt settlement that allows eligible clients to repay only 50% of their owed debt over a 36-month period. This program is marked by pre-approved creditors, so it is not clear who qualifies.

    Will working with DMCC hurt my credit score?

    Depending on which program you choose, your credit score could be impacted positively or negatively. For example, if you choose to use DMCC for a credit report analysis, the advice taken could improve your score. However, enrolling in a debt settlement or debt repayment program through the company could drop your score significantly.

    Is Debt Management Credit Counseling Corp. legit?

    DMCC is a legitimate business based in Florida. It says that it has helped over 100,000 clients pay off more than $500 million of debt and see an average payment reduction of 24%. You can contact the company for a free consultation before signing up for services.

    Debt Management Credit Counseling Corp. Reviews

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      • 4,476,910 reviews on ConsumerAffairs are verified.
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      • Our moderators read all reviews to verify quality and helpfulness.
      Page 1 Reviews 0 - 10
      Customer ServiceStaff

      Reviewed Dec. 9, 2014

      Was spoken to very rudely today, surprisingly by this company's manager, or so he told me, Oscar **. Inquired about canceling, was rushed off the phone and told I would receive a cancellation email. Never received one, called back several times, leaving messages and not receiving a call back. Just decided to see if responding "cancel" to a previous email would cancel it out but wasn't sure. After calling back later on that day, he finally answers and was speaking to me in a very condescending tone saying, "You're done. You are the one with the payday loans and don't want our help because of our small fees." I asked him an email confirming my cancellation but was refused. I asked to speak to the manager or a supervisor and he said, "I'm the superior. I don't know what more you want. You don't want our help so You're done." I was appalled at the lack of professionalism from a so-called "Manager".

      Customer ServicePriceStaff

      Reviewed Aug. 28, 2014

      I have completed my program with dmcc. I had to consolidate four credit cards, most with high interest. They were able to reduce one of my credit card interests from 18% down to 6%!!. The other credit cards were reduced around 5% lower. I was happy to get anything, as long as it was lower than what I was currently paying. That to me was a savings. Not to mention, after 6 months of on-time payments, I was able to call and see if I could get my monthly payment reduced (which I was aware by doing this, that would extend the life of my loan - but you do what you have to do) and they reduced my payment. Also, I was told before even starting about me being able to request a lower payment after 6 months, so I was told right. I was told beforehand they would call my creditors and try to negotiate, they did. And also, I was told before starting the program that if I finish I would get my first months payment back, as an incentive for completing the program, AND I DID!!!

      I had a great experience with them. I had a friend of mine who I work with refer me to this place once I told her I got taken advantage of by some people and they managed to get over time....$10,000 out of me by ripping me off, lying to me, the whole nine. Lesson learned there. So I called and consolidated my credit cards of $10,000 and some change and seven years later......I paid it all off!! :) now I had heard that for every $1,000 owed, and you pay the minimum due to a credit card....that it generally takes 7 years to pay off that $1,000 by submitting the minimum payment. I saved a lot of time (by paying off the debt much quicker than if I was on my own) and money (they lowered my interest on 3 out of my 4 credit cards, that's saving money) with this company. I was extremely happy. :) Also, with these credit card balances I had.....I still got my statements in the mail from each of them every month and yes, I checked every statement each month and every month......The payment I sent DMCC was in turn sent to each of my creditors and ON-TIME!! :) no problems or complaints from me!! :)

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        Reviewed Dec. 21, 2011

        Do you provide language interpretation assistance to communicate with debtors, consumers, and/or others that are not proficient in English?

        Reviewed June 30, 2003

        I am sure you have heard the same story about them as you will get here. Had agreed to consolidate nearly $30,000 in debt with them and they calculated a monthly payment for me, $700-800. They required that I give them 2x that amount to get started and after I did, my monthly payment went up because they could not negotiate with 90% of the creditors I had enrolled with them through.

        I withdrew from their service after them making late payments to all my creditors even though I paid DMCC on time. In all, i was forced to file bankruptcy and DMCC sent me a letter that they would send me $50 if I would sign a closure agreement. yeah right. I signed no such document because I think they should give me tha $1500 I gave them initially for nothing.

        I filed bankruptcy, had to move, etc. etc. etc.

        Reviewed Jan. 4, 2003

        My husband and I fell behind on a couple of our credit cards about 30 days. We had 8 credit cards and I just couldn't keep up on them all so I signed up with DMCC to help lower the interest and have to pay only one payment. This was December 2001. By April 2002 all of my cards were delinquent and over limit and late fees mounting. Not only was I receiving additional charges, the interest rate wasn't dropped on a majority of the cards.
        I began calling DMCC to try to get it resolved. They dragged their feet for months and finally in October the interest rate was dropped. When I asked about all of the extra interest I'd paid and the late fees, etc... they were going to get back to me. Never heard from them. I then received notice that 3 of our cards were sold to a new company in October. Called DMCC so that they could get everything taken care of. The last two statements have indicated that the interest rates are all back up, late fees mounting, overlimit fees added.
        This month - no payment was received by two of the cards so I called to pay them myself. DMCC still has not returned my calls regarding the reimbursement and getting everything fixed. Today I filed a complaint with the BBB, but I don't know how far that will get me - I did not document the exact dates of all my phone calls with DMCC, which the BBB wants. I have also emailed their executive director to let her know just how dissatisfied I am and that I do not want them handling any of my accounts. I will contact all of my creditors myself.

        This has been a nightmare that now has my accounts severely delinquent and over their limits. My credit score has plummeted and is going to take me at least a year to fix. My suggestion to everyone is contact your creditors yourself. You can accomplish as much with them as the debt counselors and will have much more control over it. I have requested that they give me back the money I sent them to start this "nightmare" and hope that they will, though my guess is that they'll respond as promptly as before - NEVER TO BE HEARD FROM AGAIN.

        Reviewed May 1, 2002

        I am a customer of Debt Management Credit Counseling Corp. I consolidated some credit card debt with them. They promised that within 3.5 years I would be finished paying and my credit would be wiped clean of these debts. As of this month I have made 50 monthly payments. Last August (2001) I had a review of my accounts done and they said I had approximately 24 more months to pay! That would mean it will take 5.5 years instead of the 3.5 years originally stated when I started the payments.

        If they would have stuck to the original 3.5 years, I would have been finished with my payments about 6 months ago! Instead I have about 16 more monthly payments to make. Emotionally, I have had problems getting credit for certain things because when banks see that we are in their program that throws out a red flag to them. I thought that their program would help us and be better than bankruptcy, but instead I have struggled with banks and lenders over this.

        Reviewed Feb. 7, 2001

        I was contacted by debt management to consolidate some credit card debt. I gave them the names of my creditors. I had two cards that I was interested in consolidating, a First USA and an Associates.
        They told me that all I had to do was send a check and everything would be taken care of. The amount was $450.00. Upon further inspection I told them that I did not want them to handle the Associates account. Somehow they did contact Associates and my card was cancelled and due to that my interest rate went from 12.99% to 15.99%. They claim they never contacted them but Associates told me they have them on record. But Debt Management is not lisenced to do business in Michigan.

        I told Debt Management I did not want to deal with them and they offered to give me half of my money that I sent them. I contacted First USA and told them not to deal with Debt Management ever. Realizing that I had made a mistake I settled to get half of my money back. Debt Management then refused to pay anything back based on all the work that they had done.

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          Debt Management Credit Counseling Corp. Company Information

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          Debt Management Credit Counseling Corp.