Debt Consolidation in New York City

Combine eligible debts into one structured monthly payment—with support from a nonprofit credit counselor serving New York City and communities across New York.

✓ One structured monthly payment — no new loan
Eligible debts may be organized into a single payment through a nonprofit Debt Management Plan.
✓ Personalized counseling and budget review
Review your full financial picture and receive clear, practical next steps.
✓ Possible interest and fee reductions
We work with participating creditors to seek lower rates and certain fee relief when available.

Explore Debt Counseling Programs

Free, no-obligation consultation.

We Work With Major Credit Card Companies (and Many More)

This is just a sample of the many creditors we work with to help New York City residents reduce debt through a nonprofit Debt Management Plan.

Debt Consolidation for New York City Residents

Across the five boroughs, from Brooklyn to the Bronx, New York City residents face high living costs and mounting debt. Nonprofit debt consolidation combines eligible debts into one predictable payment, reducing total repayment costs. No hard credit pull for counseling; no obligation.

Iconic New York City skyline at dusk with illuminated skyscrapers, bridges, and the Hudson River reflecting city lights.

How it helps: One monthly payment, potential interest reductions and fee relief through a nonprofit Debt Management Plan—without a new loan or balance transfer.

Reviewed by Money Fit Team • Updated December 17, 2025

What is debt consolidation?

Debt consolidation combines eligible unsecured debts into a single, structured payment—without taking out a new loan. Through a nonprofit Debt Management Plan:

Make one monthly payment to the program.
We work with creditors to reduce interest and waive certain fees.
Focus on repayment and stability, not new borrowing.

Why consolidation makes sense in New York City

New York City’s high rents, transportation costs, and economic diversity create financial pressures. Steep APRs and compounding interest can trap balances. Consolidation offers structure and relief for residents in Manhattan, Queens, and beyond.

Who we help

Consolidation may fit if you’re managing:

Credit cards and retail/store cards
Collections from utilities, telecom, or medical providers
Payday loans and other high-cost short-term debt
Medical bills and other unsecured balances

“Money Fit gave me a plan that fits my NYC budget. Lower interest means real progress on my debt.” — Alex, New York City

“The counseling was life-changing. My payments are now reducing balances, not just interest.” — Sofia, New York City

How our program works

1. Free conversation — a certified nonprofit counselor reviews your income, expenses, and debts.

2. Personalized plan — if consolidation is a fit, we design a budget-aligned payment schedule.

3. Creditor proposals — we request interest reductions and fee relief directly with creditors.

4. One payment, ongoing guidance — you make a single monthly payment and receive support through completion.

When to consider consolidation

Minimums are getting paid but balances aren’t dropping
Frequent late fees or accounts slipping behind
Card promo rates ended and APRs jumped
You want a structured, nonprofit path to become debt-free

Maria’s path to stability in New York City

Maria, a nurse in Queens, struggled with credit card debt after rising rent and medical expenses. High interest rates meant her payments barely touched the principal, and juggling bills in a fast-paced city was overwhelming.

Through Money Fit’s credit counseling, Maria connected with a certified counselor who built a Debt Management Plan tailored to her income. The plan consolidated her debts into one payment, with creditors lowering rates and waiving fees.

With ongoing guidance, Maria’s balances decreased steadily. The plan gave her breathing room to enjoy life in the city, knowing she was on a clear path to financial freedom.

*The quotes and story above are representative scenarios based on common client experiences. Names and details have been modified for privacy.

Additional resources

Licensed to serve New York

Money Fit by DRS, Inc. provides debt relief services in New York.
Money Fit by DRS, Inc. is licensed and based in New York, with an office at 4170 Veterans Memorial Hwy Suite 203, Bohemia, NY 11716.
New York State Department of Financial Services
1 State Street,
New York, NY 10004-1511
https://www.dfs.ny.gov/
License Number: BP100729
Proudly serving New York City and communities across the five boroughs.