Last week Debt Management Credit Counseling sent out the press release below. Two things struck me as a bit odd about it so I emailed the company to ask for clarification. As of yet I’ve not heard back from them so I’ll just publish the release and my observations and if they ever respond, I’ll update the post with their answers.
The video they promoted in their press release is located below.
What struck me hard was the line about their Debt Management Plan program that “you’ll avoid more drastic solutions like debt settlement or filing bankruptcy.” (Source) But what if those are the better choices for the consumer based on their individual situation? Is DMCC saying they will steer you into a DMP even if those are better choices? Now you can see why I’m perplexed by the statement.
If anyone else spots a perplexing statement in the video, post it in the comments below.
While I was on the DMCC site I saw they featured a statement they had been seen on the Hallmark channel, so I watched the video. It is unclear if Harvey Warren is an official spokesperson for DMCC. They didn’t answer my question about that yet. Warren is a very interesting fellow in that in his past he was tangled with Walter Ledda who is currently in the news with Morgan Drexen issues with the Consumer Financial Protection Bureau. Funny how this industry runs around in common circles.
What really struck me as odd in the video is Warren seems to promote DMCC as a place to go for help with private student loan problems (Source) but it appears DMCC offers no such program. Again, I asked DMCC about this and there has been no response by the time I published this.
The Press Release is Below
Lighthouse Point, FL (PRWEB) February 13, 2015
Debt Management Credit Counseling Corp http://www.dmcconline.org, a nonprofit credit counseling organization (DMCC), announced today the publication of a new educational video on debt management plans. Consumers struggling to repay unsecured debts, such as credit cards, payday loans, collection accounts and medical bills, are encouraged to view the video to get a quick easy understanding of how a debt management plan may help them. The video can be found on the DMCC website at http://www.dmcccorp.org/edu/debtreliefvideos/.
The debt management plan video is the latest in a series of short animated videos published by DMCC to educate consumers on various financial matters, including credit, debt relief, student loans and identity theft. All of the videos were designed by DMCC certified credit counselors to be just a few minutes in length and easy to understand. The debt management plan video provides consumers a quick two minute overview of this valuable repayment option, which is offered by creditors through accredited credit counseling agencies like DMCC. “This video is a great way for consumers to get a quick understanding of how a debt management plan may help them”, said Phil Heinemann, DMCC Executive Director. “We encourage anyone struggling to repay credit cards and other unsecured debts to take a look before seeking other debt relief options”.
Debt management plans to lower interest rates and monthly payments for unsecured debts, such as credit cards, payday loans, collection accounts and medical bills, are available through DMCC in most states. Monthly payments under debt management plans are consolidated, so consumers only need to make one monthly payment to DMCC, which is then distributed by DMCC to their creditors. In addition to providing affordable monthly payments, creditors participating in debt management plans typically stop their collection calls and past due fees. Consumers interested in a debt management plan quote should contact DMCC at 866-618-3328, Monday – Thursday 9:00am – 6:00pm and Friday 9:00am – 3:00pm ET, or by completing an online application at http://www.dmcconline.org.
About Debt Management Credit Counseling Corp.
DMCC is a 501c3 nonprofit organization committed to educating consumers on financial issues and providing personal assistance to consumers overextended with debt. Education is provided to consumers via seminars, workshops, a proprietary financial literacy program, and a vast array of online and printed materials. Personal counseling is provided to consumers to identify the best options for the repayment of their debt at no charge. DMCC is a U.S. Department of Housing and Urban Development Approved Housing Counseling Agency, is approved by the U.S. Department of Justice to provide bankruptcy counseling and education, and has an A+ rating with the Better Business Bureau.