Debt Management Credit Counseling Corp

Debt management plans:the organization's debt management plan program consists of the negotiation and servicing of repayment plans with creditors on behalf of consumer debtors. The provision of such services is regulated by the u.s. Internal revenue service, most states, and the major banks providing the underlying debt management plan benefits. Regulations include fee restrictions, bonding and insurance, banking requirements, privacy and security policies and controls, accreditation and certification of the organization, its management and employees, and annual licensing and reporting. The organization is also subject to periodic audits by these regulating entities.specific program accomplishments achieved were as follows: dmcc serviced debt management plans for approximately 6,000 clients, of which an estimated 70% were low-moderate households earning less than 80% of their area median income based on guidelines published by the u.s. Department of health and human services. Dmcc disbursed over $16 million in debt repayments to the creditors of its debt management plan clients. Dmcc successfully completed over 1,400 debt management plan accounts for clients who repaid their enrolled debts in full.