Debt Management Plan Overview

Because of overspending, loss of income, medical expenses or marital problems, you may have more bills than you can pay. If you can't pay each of your creditors the minimum payment every month, and if the pressure of unpaid bills is jeopardizing your job, marriage or peace of mind, the Momentive™ Consumer Credit Counseling Service® Debt Management Plan may be the answer for you.

Momentive™ and your counselor will work with you and your creditors to set up a repayment plan and extend the time for repayment. Your counselor will also help you set up a money management plan to help you handle your money more effectively.

The following obligations can usually be placed on the Debt Management Plan:

• Credit cards;
• Retailers;
• IRS;
• Car payments;
• Collection agencies;
• Doctors;
• Attorneys;
• Student loans;
• and Finance companies.

House payments are not handled on the Debt Management Plan. Your counselor can answer questions about specific debts.

Our DMP's are voluntary programs that serve the dual role of helping you repay your debts and helping creditors to receive the money owed them.

If, after reading the following description of the Debt Management Plan, you decide to participate, Momentive™ and your counselor will make every effort to help you relieve the pressure of unpaid bills, avoid bankruptcy and restore your self-esteem.

How does the Debt Management Plan Work?

• Contact Momentive™ to request a Debt Management Plan Packet which includes an information sheet.
• After you complete the information sheet, call Momentive™ to make an appointment to meet with a counselor.
• After meetings with a counselor, if you decide to participate in the Debt Management Plan, you begin by making a deposit with Momentive™.
• When the first deposit has been received, Momentive™ will contact your creditors to set up a repayment plan. You make your deposit to Momentive™ every month. The money is disbursed to your creditors monthly as agreed.

• Momentive™ will send you a notice as each debt is paid in full. You can contact us at any time if you have a question or concern about your accounts.
• Some creditors suspend interest and late payment charges for participants in the Debt Management Plan, others do not.
• How your credit rating is affected by your participation in the Debt Management Plan depends upon the individual creditor. Many creditors will consider your participation in the Debt Management Plan as a positive effort, and others do not.
• You may discontinue your participation in the Debt Management Plan at any time by notifying us.

What does the Debt Management Plan Cost?

There is a moderate monthly contribution requested to help pay for stamps, checks. Stationery, faxes, and telephone calls. There are no "set up" or "closing" fees. All other money deposited with Momentive™ each month is used to reduce your debts.

Most of our funding comes from voluntary contributions from creditors who participate in Debt Management Plan ('DMP'). Since creditors have a financial interest in getting paid, most are willing to make a contribution to help fund out agency. These contributions are usually calculated as a percentage of repayments you make through your DMP - up to fifteen percent (15%) of each payment received. However, your accounts with your creditors will be credited with one hundred percent (100%) of the amount you pay through us and we will work with all your creditors regardless of whether they contribute to our agency.

What is required?

• Desire to solve financial problems.
• Complete information concerning income, expenses and financial obligations.
• Signed agreement allowing Momentive™ to work fully with all listed creditors.
• Monthly full deposit to Momentive™ with guaranteed funds.

Call us today. We want to help.

Momentive™ Consumer Credit Counseling Service® is one of about 200 private non-profit consumer debt and credit counseling offices with about 1900 offices in the United States, Puerto Rico and Canada. It was established in 1965 and has as one of its services the arrangement of debt repayment through the Debt Management Plan.

Momentive™ acts as the mediator between the debtor and the creditors in its Debt Management Plan. The success of the program is made possible by cooperation of creditors who support non-profit consumer credit counseling services as a matter of company policy. Most major credit-granting organizations participate in the Debt Management Plan. Momentive™ is a not a charitable organization, a lending institution or a collection agency.

Momentive™ also provides consumer education programs to schools and community groups and provides individual and family money management counseling, as well as financial counseling for potential homeowners.

Momentive™ is a member of the National Foundation For Credit Counseling, and is accredited by the Counsel on Accreditation.

Counseling Sites:

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