If you're pondering whether to utilize a Debt management Program (DMP) or file for CHapter 13 bankruptcy, consider the following: Many credit-counseling agencies have pre-arranged terms with credit card companies for repayment. The interest rate may be reduced, but there will still be interest to pay. Filing for Chapter 13 bankruptcy enables the debtor to pay off debts with zero percent interest and provides a legal means to eliminate debt. Income left over after a reasonable family expenses goes toward paying off your debts. Anything you can't be paid will be eliminated or discharged. DMP's are dependent upon all creditors agreeing to the plan. If just one balks, it may throw a monkey wrench into the whole plan. Creditors have no influence on a Chapter 13 filing. These filings are approved by a court of law. Most DMPs establish a budget and monthly payment amount. By the time arrangements are worked out with creditors, you might wind up having reports of late p...