How does the cost and time of Debt Settlement program differ from that of a Debt Management Plan (DMP) offered by a Consumer Credit Counseling Service (CCCS)?

DMPs offered by CCCAs are designed for people who need only a moderate monthly payment, and who have the ability to repay all of their debts, plus some interest, in approximately 5 years. The monthly payment required to complete a credit counseling program may not be much lower than your required credit card payments, and could very well be higher than that of a debt settlement program. A debt settlement program may be faster to complete than a DMP (2 to 4 years for debt settlement compared to 5 years for a DMP).