Nonprofit Help Paying Down Unsecured Debt
Debt Reduction Services
Review your budget and unsecured debts with a certified Money Fit counselor at no cost. If a debt management plan fits, it may lower monthly debt payments, simplify eligible accounts, and create a more manageable way to pay down debt.
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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
A debt reduction review may show that a debt management plan fits your budget. Money Fit works with many major credit card issuers and unsecured creditors to organize eligible debts into one monthly payment and send payments to participating creditors.
The logos shown are examples, not a complete list or an endorsement. Participation and available terms depend on the creditor and account.
What debt reduction services mean at Money Fit
Debt reduction services should help lower what debt is costing your household and create a realistic way to pay it down. At Money Fit, that starts with nonprofit credit counseling, not a sales pitch for a new loan.
A counselor reviews balances, interest rates, minimum payments, account status, and the monthly budget. Depending on what you need, the answer may be a self-guided payoff plan, questions to ask creditors, or a debt management plan for eligible unsecured debts.
The service name and legal organization are connected
Money Fit is the consumer-facing service of Debt Reduction Services, Inc., a nonprofit credit counseling organization founded in 1996. Debt Reduction Services, Inc. is 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 verify the credit counseling organization behind Money Fit.
Start with the debt causing the most pressure
Debt reduction looks different depending on whether the problem is high-interest credit cards, several unsecured debts, payday loans, or collection accounts.
Credit card balances are barely moving
High interest and minimum payments can keep balances in place even when you pay every month.
Get help with credit card debtToo many payments are hitting the budget
Several unsecured debts may be easier to handle through one structured nonprofit repayment plan.
See how debt management worksPayday loans or collections are making things worse
These debts may need a more specific review based on the lender, collector, account status, household budget, and state.
Review debt-specific servicesHow Money Fit can help you pay down debt
The goal is not to force every dollar toward debt. It is to find a payment that reduces balances while still leaving enough for the rest of your life.
See where the money is going
A counselor looks at income, housing, food, transportation, insurance, medical costs, and the payments already coming due.
See what is making the debt expensive
Interest rates, fees, missed payments, account status, and creditor policies all affect how quickly balances can come down.
Choose a payment you can keep making
Money Fit explains what may work, what can vary, and what the payment would require before you decide.
Debt reduction is not one single product
Companies use similar words for very different services. Knowing what is actually being offered can prevent an expensive mistake.
Nonprofit credit counseling
A counselor helps you understand the budget, debts, and choices. A debt management plan may be discussed, but enrollment is not required.
Debt management plan
Eligible unsecured debts may be placed into one monthly payment through a nonprofit agency. It is not a new loan or debt settlement.
Debt consolidation loan
A new loan replaces existing debts. The rate, fees, term, and total cost depend on the lender and your credit.
Debt settlement
Settlement companies generally try to negotiate debts for less than owed, often after creditor payments stop. This can bring fees, collection pressure, lawsuits, credit damage, and possible tax consequences.
Debt reduction has to work in the life you actually have
Money Fit often sees people doing their best to keep up while interest, emergencies, medical costs, repairs, and everyday expenses keep moving the finish line.
A workable plan does not assume life will suddenly become cheaper or easier. It starts with the money available now and builds a path that can hold up beyond the first payment.
What to know before enrolling
Money Fit explains the proposed payment, fees, participating accounts, creditor terms, and alternatives before you decide whether to begin a debt management plan.
No pressure to enroll
Counseling can help even when a program is not the right fit. You decide whether to continue after reviewing the options.
Fees are explained first
Credit counseling is available at no cost. Any debt management plan enrollment or monthly fees are disclosed before enrollment.
Creditor terms vary
Money Fit cannot guarantee creditor acceptance, reduced interest, waived fees, account treatment, or a specific payoff date.
Credit effects vary
A debt management plan may affect credit based on account status, creditor reporting, payment history, account closures, and balance changes.
Talk with a nonprofit credit counselor
Share a few details so Money Fit can review the debts, monthly payments, and household budget. You can understand what may help before deciding whether to enroll in anything.
Frequently asked questions
What are debt reduction services?
Debt reduction services can include budgeting help, creditor hardship options, self-guided payoff plans, consolidation loans, nonprofit debt management, debt settlement, or bankruptcy. Money Fit focuses on nonprofit credit counseling and structured repayment for eligible unsecured debts.
Can Money Fit reduce the amount I owe?
Money Fit does not promise reduced principal balances. When creditors participate in a debt management plan, eligible accounts may receive reduced interest rates or certain fee concessions, which can lower the cost of repayment.
Is a debt management plan a loan?
No. A debt management plan does not replace your balances with new credit. It is a structured repayment plan for eligible unsecured debts through a nonprofit credit counseling agency.
Is debt reduction the same as debt settlement?
No. Debt settlement generally seeks to negotiate balances for less than owed, often after payments stop. Money Fit does not use that approach. A nonprofit debt management plan focuses on repaying eligible balances through a structured plan.
What debts can Money Fit help with?
Money Fit can review credit cards, store cards, some unsecured personal loans, medical bills, collection accounts, and certain payday or short-term loan balances. Eligibility depends on the debt, account status, creditor participation, state rules, program rules, and budget.
Will my credit cards be closed?
Credit card accounts included in a debt management plan are closed to new charges. Creditor policies and other account treatment can vary, so Money Fit explains the known terms before enrollment.
How long can a debt management plan take?
Many debt management plans are designed to be completed within 60 months. Timing depends on balances, fees, creditor participation, account details, and the payment the household can maintain.
Do I have to enroll after counseling?
No. Counseling can help you understand the debt and budget even when a program is not the right fit. If a plan is discussed, Money Fit explains the details before you decide.
Does Money Fit sell my information to debt companies?
No. Your information stays with Money Fit. Money Fit does not sell your information or send it to a marketplace of debt companies. Money Fit uses the information you share to respond to your request and discuss possible next steps.
