1. Help Center
  2. Debt Repayment Options
  3. Debt Management Program (DMP) - Offered through Credit Counselling Society

What are the disadvantages of a Debt Management Program?

There are four main disadvantages of choosing a Debt Management Program.

  1. Creditors may report the program to the Credit Bureau(s)
  2. Up to a 5-year commitment
  3. You cannot surrender assets to secured creditors
  4. You cannot include debt owed to the Canada Revenue Agency