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Home > Ask The Get Out of Debt Experts > I Was Thinking of Enrolling With MMI. – Mae

I Was Thinking of Enrolling With MMI. – Mae

I have a 48,000 credit card debt and I am seriously thinking about enrolling in Money Mangagement International Debt Management program. I understand that I would be debt free in about 5 years. I am to make my monjthly deposits and they would represent me with my creditors. Are they completly legitimate? I am uneasy about this and any other company, but I need assistance. What can you tell me about MMI.

Should I go this route and death occurs before I am able to finish the proposed program, will my family be liable to finish the terms of the agreement. I alone am the card holder. Will they use my assets to collect payments owed? Will the account be written off as a loss to creditors.

What are the down sides, if any, to using a debt management plan.

This is your chance to be a hero and help out this person by providing your feedback and answer to the question in the comments section below.

I Was Thinking of Enrolling With MMI. - Mae by

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This is information that was submitted by a third party and not generated by GetOutOfDebt.org or Steve Rhode.
  • Lee Anne

    Hi Mae,
    I enrolled with MMI 18 months ago because I was tired of dealing with credit card debt.  When I started, I owed $21K, I’m now down to $8K.  It feels great to be getting this monkey off my back!  MMI is completely legitimate and very easy to work with.  I highly recommend this debt management company.  At any time during your enrollment, you can call and talk to an adviser for help or encouragement.  The name of the game is “take charge!”.  Live within your means, no more credit cards!  Make a commitment to only use cash and make all your payments to MMI.  You’ll be debt free before you know it!  Good luck, Lee

    • http://GetOutOfDebt.org Steve Rhode

      Thank you for sharing your feedback and experience.

  • Millard Cover

    Hi Mae,
    I would suggest calling your credit card companies and working with them individually.  My wife and I have done this, and with the exception of one card, every company was very helpful.  We have been able to negotiate interest rates from 0% for one year, to 5% until the balance is paid off.  I would start each phone call off with, “I need your help…”.  I would also state that I want to pay my balance off in full, but at current interest rates and level of payment, I”m unable to do so.  I was very surprised at how willing the companies were willing to work with us.  The one card that would not work with us, Barklays, said we would have to miss two consecutive payments before we’d be eligable for their debt management program.  Hope all goes well for you.

  • http://www.consumerrecoverynetwork.com/ Michael

    Hi Mae,

    I can appreciate your being uneasy when looking for outside assistance with your finances. Being cautious when looking to a 3rd party for help with debt is wise. That said, MMI is a legitimate nonprofit credit counseling agency with a good reputation.

    If accounts are only in your name your family will not be on the hook for payments after your passing. Your estate would be, but that is the case with your unpaid debts whether you enroll with MMI or not. It will be your creditors who pursue your estate not MMI.

    If you have real concerns with your health while in the debt management plan with MMI you should let a family member or trusted friend know that you are in the plan and provide them contact information for MMI as well as the contact information for who you may have given power of attorney over your affairs either now, or at your passing, so that payments and withdrawals can be stopped.

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