Can I Keep One Credit Card Open for Business in a Debt Management Plan? – Dave

“Dear Steve,

I am just barely above water, and the tide is coming in!

132,000 in mortgages (first & second).
53,300 in credit cards.

Can you recommend a reputable debt management service? My goal is to pay down debt as quickly as possible w/out to much damage to credit.

Also, I need to keep one card available for business- can this happen with DMP?


Dear Dave,

For debt management information, click on the link. I can’t recommend any particular company. When you connect with one if you want me to consider what they are offering you just come back and post an update in the comments section below.

Any debt management program will secondarily hurt your credit when the accounts included are closed. If the card you are using for business is with the same bank as one of the cards you are including, it would be closed by the bank.

There is no law or regulation that says you have to include all your cards in a debt management plan.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
Damon Day - Pro Debt Coach

Steve Rhode
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