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My Bank Does Not Accept Payment From a Debt Management Plan. What Do I Do? – Junior

“Dear Steve,

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?


Dear Junior,

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:

  1. Make at least the minimum contractual payment.
  2. Default and pay less than is required.
  3. Consider bankruptcy if you need a payment plan that is based on what you can actually afford and you want your creditors to have to agree to it.

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.


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.

P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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