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You’re in Debt: 9 Terms to Know

The Kaplan Group

You can learn more about FDCPA in our advice to consumer debtors. Credit Counselor. A credit counselor is certified and trained in consumer credit, money and debt management, and budgeting. Debt Settlement Services. The law does not apply to collecting from businesses.

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FAQs About Debt Management Plans

Debt Guru

A debt management plan (DMP) is an agreement between a debtor (that’s you, the person in debt) and a creditor (think: your bank or your credit card company) that tackles your outstanding debt. How do I choose a debt management agency? Debt settlement has drawbacks that might make this a last resort.