 TITLE: The Difference Between Debt Consolidation Loans and Debt Management Programs CONTENT: Debt management is an approach that involves working with a credit counseling agency to help plan and execute a repayment plan. Once a credit counselor reviews your finances, they'll help you develop and stick to a plan for managing all your debt. Credit counselors may also try to reach out to creditors on your behalf to see if they can negotiate lower interest rates on your debt.\nIn most cases, debt management plans outline how much you'll have to pay each month and for how long—and your counselor will hold you accountable for sticking to your plan. They may even take over the repayment for you and you'll pay them each month and authorize them to make payment on your behalf. END