In case you have been exploring debt relief options for your debt, then you’ve probably encountered numerous articles that explore credit counseling services and debt management. The exact structure of the relationship between debt management and credit counseling can be unclear. The reason is the two phrases generally are most often used interchangeably, so much in fact that it gives the perception that they might essentially be the same. They are definitely not the same. You will find agencies called credit counseling agencies, oftentimes known simply as “credit counseling”. As you might suspect, these businesses provide financial counseling to individuals. In combination with this counseling, they supply a debt solutions plan for debt that offers a number of benefits, the most prominent of which is decreased rates. The plan is generally known as a debt management plan (DMP), typically known simply as “debt management”, and indebted consumers must undergo a financial analysis and meet specific requirements to be able to be eligible for the Dmp. So debt management programs and consumer credit counseling are not identical or interchangeable, but they are closely related. It should also be mentioned that in addition to consumer credit counseling agencies, consumers can also enroll in Dmp’s using other kinds of debt solution companies.