Guide to a Successful DMP

Check your monthly GFM progress reports. It is important to keep the lines of communication with us open. Update your balances with GFM every 3-4 months, particularly when an account is close to being paid off as our system tracks estimated balances only.
Check your monthly creditor statements. Call us immediately if you notice any fees or increased interest rates. We do not receive statements from your creditors.
It may take up to three months to receive program benefits depending on the creditor. You still may receive fees/collection calls/high interest until your creditors accept you onto the program.
Attempt to move your creditor due dates to 21 days after your GFM payment date. This will ensure on time payments to your creditors.
Avoid changing your GFM payment date if at all possible. It can be very harmful to your success on the program. GFM requires three business days notice to make any changes to an automatic debit. To avoid fees, please let us know if the funds will not be available for withdrawal at least three business days prior to your debit date.
GFM does not report to the credit bureaus, however, your creditors may. Enrollment does not impact your credit score unless a creditor reports you as delinquent during your participation. The only creditor we know of at this time that does this is American Express.
Consistent payments are the best way to ensure success. All benefits provided are given by the Creditors themselves, and can be revoked or amended by the creditors at any time.

Reason Why Proposals Are Declined

Payment amount too low
Incorrect information: invalid Social Security number or invalid account number or primary cardholder not listed properly
Account has been charged off
Account has been open less than 9 months
Purchases made in the past 30 days
Account has been re-aged in the past 5 years
Re-occurring charges (example: insurance - such as Sears, internet services, etc.)
Promotional offers (example: 0% interest, no payments, etc. - such as Circuit City and Best Buy)
All accounts are not on the program - this only applies with certain creditors (example: BOA)
Account has been sold to a collection agency
A Sears account has been listed as joint, Sears only offers individual accounts
Clients has participated in a debt management program in the past 5 years

Sample Monthly Progress Report

The top portion of your monthly progress report is for you to remit your monthly payments. Please send in this portion with your money order to ensure proper tracking of your payment. For any questions, or assistance with your account, please call our Client Services Center at 1.800.460.8641.

Sample Account Statement

The lower portion of your progress report contains all of your active accounts and balances. These are estimated balances only, please call us toll free at 1.800.460.8641 to update them. For online access to your account and monthly progress statements, you can visit www.yourgfm.com.

For any questions about your monthly progress report, please feel free to contact us at 1.800.460.8641
M-Th 8am to 9pm EST and Fri 8am to 8pm EST.