Nonprofit Debt Consolidation Options
Debt Consolidation Without a New Loan
Organize eligible unsecured debts into one monthly payment through a Money Fit debt management plan. When participating creditors provide concessions, the plan may lower interest rates, reduce certain fees, and create a more predictable path toward repayment.
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Save more than $250 per month on average*
Clients who enroll in a Money Fit debt management plan reduce their total monthly debt payments by more than $250 on average.
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One monthly payment and a faster payoff path
Combine eligible debts into one payment and work toward paying balances in full sooner than making minimum payments alone.
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A practical plan and greater peace of mind
Know what you will pay, where the money goes, and what happens next, with support available along the way.
*Based on Money Fit client enrollment data. Individual payment changes and results vary.
Debt Management Plans and Major Creditors
Money Fit works with many major credit card companies and unsecured creditors through nonprofit debt management plans. If your accounts are eligible and the creditors participate, a plan may organize several payments into one monthly amount and provide lower interest rates or certain fee concessions.
The logos shown are examples, not a complete list or an endorsement. Participation, account eligibility, concessions, and available terms depend on the creditor and account.
Can Money Fit help consolidate debt without a loan?
Yes. Money Fit helps consumers organize eligible unsecured debts without taking out another loan. Money Fit does not provide loans or balance transfers. Instead, Money Fit offers nonprofit credit counseling and debt management plans that may combine participating accounts into one monthly payment.
Depending on the creditor and account, a plan may reduce interest rates, stop certain late or over-limit fees, and lower the combined monthly payment. Money Fit then distributes the monthly payment to participating creditors according to the plan.
An independent way to verify the agency behind Money Fit
Money Fit is operated by Debt Reduction Services, Inc., a member of the National Foundation for Credit Counseling and the Financial Counseling Association of America. Both organizations maintain public member listings, giving consumers another place to confirm the credit counseling agency behind Money Fit.
Choose the starting point that matches your situation
The right next step depends on your budget, eligible debts, account status, and whether you have enough monthly room to repay the balances without a formal plan.
I am not sure where to start
A nonprofit credit counseling review can help sort through the budget, eligible debts, and possible repayment paths before any program is discussed.
See how nonprofit credit counseling worksI want one payment without borrowing more
A debt management plan may organize eligible unsecured debts into one monthly payment and provide interest or fee concessions when creditors participate.
Learn how debt management plans workI can repay the balances on my own
Snowball and avalanche methods may work when the budget has enough room to pay more than the minimums consistently.
Explore debt repayment guidesWhat a nonprofit debt management plan may improve
The value of a debt management plan is not limited to having one payment. When the plan fits the household budget and creditors participate, it may also reduce the cost and day-to-day strain of repayment.
A simpler monthly routine
Money Fit receives one monthly payment and disburses funds to participating creditors, reducing the number of payment dates the household has to manage.
Potentially lower rates and fees
Depending on the creditor and account, a plan may reduce interest rates, stop certain late or over-limit fees, and lower the combined monthly payment when available terms and the household budget allow.
A clearer repayment schedule
Many plans are designed to be completed within 60 months. When rates or fees are reduced, more of each payment may go toward reducing balances.
How a nonprofit debt management plan works
Money Fit reviews the full financial picture before discussing whether a plan may fit. A debt management plan is one possible outcome of counseling, not a requirement.
Review the budget and debts
Income, essential expenses, balances, interest rates, minimum payments, due dates, and account status help determine what is realistic.
Review eligible accounts
Money Fit reviews which unsecured debts may be included and what participating creditors may offer. Concessions are not guaranteed.
Make one monthly payment
If you enroll, Money Fit receives one payment and disburses funds to participating creditors according to the plan.
One payment can make repayment easier to follow
Money Fit often sees that the hardest part is not understanding that debt needs to be repaid. The problem is that several minimum payments, changing due dates, interest charges, and household expenses compete for the same paycheck.
One monthly payment can make the process easier to manage. When participating creditors reduce interest or certain fees, more of the payment may go toward reducing balances. The plan still has to leave room for housing, food, utilities, transportation, insurance, medical needs, and ordinary expenses.
What to know before enrolling
Money Fit explains the proposed payment, fees, participating accounts, account treatment, and alternatives before you decide whether to begin.
Fees are explained first
Enrollment and monthly fees may apply. Money Fit explains any applicable fees before you decide whether to enroll.
Creditor terms vary
Money Fit cannot guarantee creditor acceptance, interest reductions, fee concessions, a lower monthly payment, or a specific payoff date.
Included credit cards are closed
Credit cards included in a debt management plan are closed to new charges. Treatment of other accounts may vary.
Credit impact varies
A debt management plan may affect credit based on account status, creditor reporting, payment history, account closures, and balance changes.
Find debt consolidation information for your state
Select your state or the District of Columbia for location-specific Money Fit debt consolidation information. Money Fit does not imply a local office in each state, and available services, fees, and program requirements may vary.
Start with a confidential debt review
Share a few details so Money Fit can help you compare nonprofit credit counseling, debt management, and self-guided repayment before you choose a path.
Frequently asked questions
What is debt consolidation?
Debt consolidation means organizing multiple debts into one payment or a more structured repayment plan. Money Fit helps consumers do this through nonprofit credit counseling and debt management plans for eligible unsecured debts. Money Fit does not provide loans or balance transfers.
How is a debt management plan different from a consolidation loan?
A consolidation loan replaces existing balances with new credit. A debt management plan does not create a new loan. It may organize eligible unsecured debts into one monthly payment through a nonprofit credit counseling agency, with possible creditor concessions when available.
Do I need good credit for nonprofit debt consolidation?
Credit counseling does not require approval for a new loan or a hard credit inquiry from Money Fit. Whether a debt management plan fits depends on the debts, account status, creditor participation, program rules, and household budget.
What debts can be included in a debt management plan?
Plans generally focus on eligible unsecured debts such as credit cards, some unsecured personal loans, medical bills, collection accounts, and certain payday loan balances. Eligibility varies by debt type, account, creditor participation, state rules, and program rules.
Will my credit cards be closed?
Credit cards included in a debt management plan are closed to new charges. Treatment of other accounts depends on the creditor, account status, and program terms.
Can debt consolidation lower my monthly payment?
A debt management plan may lower the combined monthly payment when participating creditor terms and the household budget allow. The result depends on balances, rates, fees, creditor concessions, and account details, so Money Fit does not guarantee a lower payment.
Will debt consolidation affect my credit?
A debt management plan may affect credit based on account status, creditor reporting, payment history, account closures, and balance changes. Money Fit does not promise a specific credit-score result.
Are results guaranteed?
No. Creditor participation, concessions, account treatment, payment amount, fees, credit reporting, and payoff timing can vary. Money Fit explains known terms and likely responsibilities before enrollment.
Does talking with Money Fit require enrollment?
No. Counseling is intended to help you understand your budget and possible next steps. If a program is discussed, Money Fit explains the details before you decide whether to enroll.
