Most Debt Management Programs are voluntary for all parties: you, the creditors, and the credit counseling agency. Over time, you pay down the debt with help from us and your creditors. In bankruptcy, your payment plan is administered through a court-appointed Trustee who will have control of your finances. When you file bankruptcy, you may have to make court appearances, go to creditor meetings, and meet with lawyers and possibly judges, and a public record will be filed, published, and placed on your credit report.