Sentences with phrase «structured debt repayment plan»

Not exact matches

According to the NFCC, budgets can actually free up money as well as relieve financial stress, increase financial security, help structure a plan for the future, allow planning for large purchases, assist in meeting financial goals; uncover money available to invest, allow preparation for emergencies, avoid late payments through scheduling timely payments, find hidden money for debt repayment and potentially raise credit score.

A debt management plan (or DMP) is a structured repayment plan ideal for consumers with more credit card debt than they can comfortably handle.

Congress further articulated consumer bankruptcy law in 1978 when it distinguished between Chapter 7 filings, which completely erase a debtor's debts, and Chapter 13 filings, which require certain debtors to make partial repayments under a structured plan.

Chapter 13 creates a structured repayment plan that may reduce debts, and lasts three to five years.