Debt Management Program – Frequently Asked Questions
Payments
When is my payment due?
Your monthly payment is due before we send funds to your creditors. You and your counselor will choose your payment date during enrollment.
Can I make extra payments?
Yes. You can make extra payments at any time through the plan. You can call our office to arrange a one-time withdrawal from your account, send us a message through your online portal, or mail a payment. If you would like the funds applied to a specific creditor, please notify us. Otherwise, we will apply them where they will have the most benefit.
Can I change my ACH date for this month or future months?
Yes. Please contact us at least two business days in advance by calling our office or sending a message through your online portal. In some cases, we may need to review available dates to ensure the change fits your creditors’ schedules.
What happens if I miss a payment?
Please be aware that if you stop, change, or miss your payment date, there may be potential complications with your creditors, which may include past-due reporting to the credit bureau, late fees, and possible increases to your interest rates.
What if my payment is returned?
If a payment is returned, contact us as soon as possible. We can arrange a draft for a different date. Timely replacement helps prevent your account from going past due or causing your creditor to drop your account from the debt management program.
__________________________________________________________________________________
Creditors and Accounts
When will my creditors start receiving payments?
Your counselor will review your specific payment schedule with your creditors during your session. Monthly payments are typically sent to your creditors 3–7 days after we receive your full monthly payment. For details about your individual disbursement date, please contact our customer service team.
How do I transition from paying my creditors on my own to the program?
Be mindful of your first payment date with Consumer Credit and your creditors’ due dates. You will know your program terms have taken effect once your credit card statement reflects the adjusted payment amount and reduced interest rate. This typically occurs after your creditor accepts the proposal and receives the first program payment. Your counselor will review your individual situation during your counseling session, and you’re welcome to contact our customer service team at any time with questions.
Do I have to check my credit card account statements?
Yes. Please review your monthly creditor statements to confirm that payments have posted correctly, your interest rate is accurate, and there are no past-due balances. Consumer Credit does not receive your creditor statements, so it is important to compare them with the statement we provide each month through the portal. The balance shown on your Consumer Credit statement may vary slightly from your creditor’s balance. If you notice a significant difference, please contact us so we can review it with you.
What should I do if creditors still contact me?
Let them know you are enrolled with Consumer Credit of Des Moines and refer them to us.
Will my interest rates be lowered?
Yes, in most cases. Interest rate reductions depend on each creditor’s program guidelines. Many creditors lower rates after the payment proposal is accepted and the first payment is received. During your counseling session, your counselor will provide the estimated interest rates for your program.
Will this affect my credit?
At the start of a debt management program, your credit score may dip slightly. That is because creditors usually close the accounts you include in the plan, which can affect your credit mix and available credit. As you make consistent, on-time payments and your balances go down, your credit profile typically improves. Over time, many people see their scores recover and even rise. Studies show that after 12 to 18 months on a well-managed plan, scores often increase as payment history strengthens and debt levels drop.
The real progress comes from making consistent payments and steadily reducing your debt over time.
Can I still use my credit cards?
No. Accounts included in the program are closed by your creditors to help you avoid taking on new debt while paying down your balances.
__________________________________________________________________________________
Online Account Access
How do I access my online account?
You should have received an email with your username and password to access your online account. If you did not receive it or need the information again, please contact us.
To access your account, visit www.consumercredit-dm.com and select client login.
What can I do in the client portal?
• View your monthly statements and complete payment history
• Update bank information
• Send and receive secure messages
• Review the creditors listed on your program
What if I forgot my password or username?
Select “Forgot Username/Password” on the login page and follow the prompts, or call our office for help.
__________________________________________________________________________________
Program Changes
What if my income or expenses change?
We understand that budgets can change. If you would like to review your budget with a credit counselor, please do not hesitate to contact us.
How do I update my contact or banking information?
You can update your details through the client portal or by calling our office. Keeping your information up to date ensures a smooth payment process.
Can I add or remove a creditor?
Yes, you can. Call us to discuss any additions or removals so we can help update your plan and keep it on track.
__________________________________________________________________________________
Completing the Program
What happens when I finish the plan?
Once all your accounts are paid in full, we will send you a completion letter. Your creditors will update their records to reflect that your accounts have been paid through the program.
Will my accounts reopen after completion?
No. Closed accounts will remain closed; however, you may be eligible to apply for new credit if needed.
How can I rebuild my credit after completion?
Pay all bills on time, use credit carefully, and keep balances low. You can also meet with one of our counselors to answer any questions you may have.
__________________________________________________________________________________
Support
How do I reach someone to discuss my account?
Call us at 515-287-6428 or 800-955-5765. Our team is available Monday through Thursday from 8:00 a.m. to 4:30 p.m., and Friday from 8:00 a.m. to 4:00 p.m. CT. You can also send a secure message through your online portal at any time.
Do you offer continuing budget help?
Yes. We offer free budgeting tools, and your counselor is available to review your monthly budget as often as needed to help you stay on track with your debt management program.