If you’ve been exploring debt options for your debt, then you have probably stumbled upon plenty of articles that explore debt management programs and consumer credit counseling. The precise nature of the connection between debt management plans and consumer credit counseling might be unclear. The reason being is that the two phrases usually are most often used interchangeably, so much so that it gives the sense that they might be the same. The two are not the exact same. There are organizations called credit counseling agencies, at times known simply as “credit counseling”. As you may suspect, these businesses offer financial counseling to individuals. Along with this counseling, they provide a debt relief program for debt that delivers a number of advantages, the most notable of which is reduced interest rates. This plan is called a debt management plan (DMP), at times known simply as “debt management”, and consumers must go through a financial analysis and meet specific requirements to be able to be eligible for the plan. So credit counseling services and debt management are certainly not the same or interchangeable, but they are closely related. It should also be noted that in addition to consumer credit counseling agencies, individuals can also enroll in Dmp’s via different types of debt relief providers.