Q: What do I do if I can't make a payment while I'm in a credit counseling program?

A: First, contact the credit counseling company responsible for your DMP (debt management plan) and explain your situation. They may be able to help in an emergency scenario. However, it is important to realize that when you establish a DMP, you are required to make timely payments in order to keep the plan in progress. If you fail to make even one payment, your creditors may revoke the favorable terms of your DMP and even "re-age" old debts, which can be devastating to your credit score. If you're truly unable to meet the conditions of your DMP, then debt settlement or even bankruptcy may be in order.

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