 TITLE: Debt Settlement vs. Debt Management Programs: What’s the Difference? CONTENT: Debt Management\n---------------\nDebt management programs (DMPs) are administered by nonprofit credit counseling companies, as opposed to debt settlement companies, which are for-profit. In a DMP, the credit counseling company negotiates with your creditors to reduce your interest rates and fees, or lower monthly payments for you. You still pay off the principal amount, so your credit score is not impacted as it would be with debt settlement. Credit counselors will also help you to improve your money management skills and come up with a workable budget. END