I’ve been in a dmp for the last year and 2 months. own a business.
I am enrolled in a dmp plan but i have 2 credit cards from the same bank that do not accept payments. how do i go about this to resolve this?
Basically, you can’t. Unlike bankruptcy, no creditor can be forced to participate in any debt management plan, credit counseling program or debt settlement program if they don’t want to. Even if it makes logical sense for them to participate, they have no obligation to.
To make matters worse, even if a creditor or bank did participate, there is nothing from preventing them from changing their mind and no longer honoring any change of terms they originally agreed to.
Your options are limited:
Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.
P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.Big Hug!