One Payment Without a New Loan
Nonprofit Debt Management Plan
Organize eligible unsecured debts into one monthly payment through Money Fit. Participating creditors may reduce interest rates or provide fee concessions, helping you repay balances through a structured plan without taking out a new loan.
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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 issuers and unsecured creditors to organize eligible debts into one monthly payment and send scheduled payments to participating creditors.
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.
What a debt management plan does
A debt management plan is a structured repayment plan for eligible unsecured debts. You make one monthly payment to Money Fit, and Money Fit sends the scheduled amounts to participating creditors.
Creditors may reduce interest rates or provide certain fee concessions when an account qualifies. A debt management plan is not a new loan or debt settlement, and Money Fit does not promise that every account will qualify.
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.
How a debt management plan works
Money Fit reviews your budget, debts, and creditor information before showing you what a proposed plan may look like.
Review the full budget
Income, household expenses, minimum payments, balances, and irregular costs help determine whether a plan payment is realistic.
Identify eligible accounts
Money Fit reviews creditor participation, account status, balances, interest rates, and available program terms.
Make one monthly payment
If you enroll, you make one payment to Money Fit, which sends the scheduled amounts to participating creditors.
What a debt management plan may help you do
A workable plan can reduce the cost and confusion of repaying eligible unsecured debts while giving you a defined path toward paying balances in full.
Potential monthly savings
Participating creditors may reduce interest rates or provide fee concessions, helping lower the combined monthly payment on eligible accounts.
One payment through Money Fit
Instead of managing several separate payments, you make one monthly payment that Money Fit distributes to participating creditors.
A defined payoff path
Many plans are designed to be completed within 60 months, depending on balances, budget, creditor terms, fees, and consistent payments.
What debts Money Fit can review
Debt management plans generally focus on eligible unsecured debts. Money Fit can review the full debt picture and explain which accounts may fit a plan.
Credit cards and store cards
Credit cards and retail store cards are common debt management plan accounts when the creditor participates and the account is eligible.
Medical bills and collections
Some unsecured medical bills and collection accounts may be reviewed. Eligibility and payment treatment vary by creditor and account.
Payday and unsecured personal loans
Money Fit can review payday loan balances and unsecured personal loans. Available options depend on creditor participation and account status.
Debts that need another approach
Mortgages, auto loans, most student loans, tax debts, secured debts, and legal judgments generally require a different type of review.
How debt management plans work
This short video explains the basic structure of a debt management plan and how it differs from taking out a new loan.
When a debt management plan may make sense
A plan may be worth reviewing when you can make a steady monthly payment, but interest, minimum payments, or multiple due dates are making it difficult to reduce balances.
- Credit card minimum payments are not reducing balances in a meaningful way.
- High interest charges are taking up too much of each payment.
- Several accounts and due dates are becoming difficult to manage.
- You want to repay eligible balances in full without taking out another loan.
- You want an alternative to debt settlement and stopping creditor payments.
- You want to review the proposed payment, fees, and tradeoffs before deciding.
The payment has to work after the first month
One payment only helps when you can keep making it while covering housing, food, transportation, insurance, medical costs, and other household needs.
Money Fit reviews the full budget before recommending a plan. The goal is not to push every available dollar toward debt. It is to build a repayment path that gives you a realistic chance to stay with it.
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
Participation, interest rates, fee concessions, payment terms, and account treatment depend on each creditor and account.
Included credit cards are closed
Credit cards included in a debt management plan are closed to new purchases. 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.
See whether a debt management plan fits
Share a few details so Money Fit can help you review your debts, budget, proposed payment, and possible next steps.
Frequently asked questions
What is a debt management plan?
A debt management plan is a structured repayment plan for eligible unsecured debts. You make one monthly payment to Money Fit, and Money Fit sends the scheduled amounts to participating creditors.
What debts can be included in a debt management plan?
Debt management plans generally focus on eligible unsecured debts, including credit cards, store cards, and some medical bills, collection accounts, payday loans, and unsecured personal loans. Eligibility varies by account and creditor.
Can a debt management plan lower my interest rates or monthly payment?
Participating creditors may reduce interest rates or provide fee concessions on eligible accounts. These changes can lower the combined monthly debt payment, but available terms and results vary.
Can a debt management plan help me pay off debt faster?
A structured plan and reduced interest costs can help clients pay eligible balances in full sooner than making minimum payments alone. The actual timeline depends on balances, creditor terms, fees, and consistent payments.
How long does a debt management plan take?
Many debt management plans are designed to be completed within 60 months. The expected timeline depends on balances, budget, creditor terms, fees, and consistent payments.
Is a debt management plan a loan or debt settlement?
No. A debt management plan does not replace your debts with a new loan, and Money Fit does not ask you to stop paying creditors to negotiate reduced principal balances.
What happens to credit cards included in a plan?
Credit cards included in a debt management plan are closed to new purchases. Treatment of other accounts depends on the creditor, account status, and program terms.
Will a debt management plan 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.
