A
press release from the Consumer Federation of America reports that a study funded by credit counselling agencies say they have beneficial impact.
"Consumers who were recommended for a DMP by agencies and chose to start payments had a significantly lower incidence of bankruptcy, as well as improved bankruptcy and delinquency risk scores, over the two years following counseling than did those who were recommended for a DMP and chose not to start."
And phone counselling seem to be no less effective than face to face meetings.
"Telephone and face-to-face delivery of the initial counseling appear to generate equivalent outcomes for consumers' creditworthiness measured two years later."
