These management programs related to debts are usually handled by creditors only
. What happens that the bank that holds the credit card in question will set the rate and the payoff amount. You should be aware that in such types of agreement the client does not have any say. Every bank will offer its own terms for this service and the terms are usually not negotiable, infact. And if in case the client found to be unable to manage the new monthly payment, then he will be dropped from the program. Always take care about myth and truth associated with this service such as Myth: The debt management companies on TV, like Consumer Credit Counseling Service, will save me. Truth: You may get out of debt ... but only with your credit trashed.