Taking an Active Role in your Debt Management Plan

A Straight Talk on Debt

A Straight Talk on Debt gives you the real deal on debt, straight from our employees and personal finance experts. Learn more about debt relief plans and how to be financially fit.

Taking an Active Role in your Debt Management Plan

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After someone decides to join a Debt Management Plan (DMP) we often get asked, "Now what?"  

Our answer,

"It's important to take an active role in your plan and understand what you can do to ensure your success."  


  • Select the Right Payment Date.   Selecting the right payment date is often overlooked and under thought when it comes to enrolling in a DMP. Too often a payment date is selected without considering creditor due dates or pay periods. If your accounts are current, picking the right payment date may help keep them current. It is important to remember that it usually takes five business days from your CareOne payment date for your creditors to receive the funds. If the accounts are current, be sure to allow enough time for the funds to reach the creditor. It's a good idea to contact the creditor and ask to have the due date moved towards the end of the month. We often have customers state, "That's what I am paying CareOne to do." The fact is CareOne does not have the authority to ask your creditors to change your payment date as we are a third party. If the account is behind, be sure to pick a payment date that you can make each and every month. The creditors will usually be looking for consistency with your payments before they issue benefits such as lowering interest rates or bringing accounts current.  
  • Take an Active Part.  Too many times we have seen people fail on a DMP because they refused to talk to their creditors, review statements, or take an active part in their plan.  When someone accepts responsibility for the debt they have incurred, and is willing to take an active role in the solution, they are much more successful on a DMP. 
  • Make Sure to Make Your Monthly Payments on Time.  By making your DMP payments on time, creditors see that you are serious about paying your debt.  Missing a payment can mean losing benefits.  
  • Understand that it Takes Time.  It took time to create the debt problems; it will take time to fix them. So many times we hear customers say, "I signed up last night but the creditors are still calling me!" It generally takes three consecutive payments on your plan before the creditors begin issuing benefits. Please keep this in mind during the first few months of your plan. Sometimes things can get worse before they get better. 


Rob Taylor  

Rob Taylor is a contributing author for A Straight Talk on Debt. Rob tells it like it is when it comes to the latest debt industry news and shares his advice on personal finance.





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  • I am so glad I joined CareOne.  After the first payment was made, I have already begun to see the changes in my credit card statements. I didn't add all of my debts. Some I can manage until I'm able to regain control over the finances. Just wanted to say I think this program will for us afterall.

    Thanks again CareOne

  • I also want to thank Care One for being available.  I would not have considered a DMP, had my boyfriend not already completed the program.  Once again, I had to learn to ask for help.  Doing debt reduction my way simply was not working, and had not been working, for more than ten years.   Before the proposals were accepted, I was a nervous wreck, but now am confident.   It has only been two months, and I can already see a difference.  Thanks again.

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