Debt Consolidation in New York

Combine eligible debts into one structured monthly payment—with support from a certified, nonprofit credit counselor serving 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 residents reduce debt through a nonprofit Debt Management Plan.

Debt Consolidation for New York Residents

From the boroughs of New York City to the shores of Lake Ontario, New Yorkers face high living costs, steep interest rates, and mounting debt balances. Nonprofit debt consolidation combines eligible debts into one predictable payment, reducing total repayment costs over time. No hard credit pull for counseling; no obligation.

A close view of the Statue of Liberty in New York Harbor, highlighting the raised torch, spiked crown, and verdigris copper surface against a soft sky.

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 September 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

High costs in urban hubs and economic shifts in manufacturing and retail sectors create uneven income. With steep APRs and compounding interest, balances can grow unmanageable. Consolidation brings structure and cost relief to residents statewide, from Manhattan to Syracuse.

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 clear path to tackle my credit card debt. The counseling helped me see my budget differently, and now my balances are shrinking.” — Maria, New York

“The weight of high interest was crushing. My counselor negotiated lower rates, and I’m finally making progress without new loans.” — David, New York

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

Sofia’s journey to stability in New York

Sofia, a retail manager in a busy urban center, juggled two jobs to cover rent and childcare. A sudden medical bill and credit card interest pushed her finances to the edge. Minimum payments barely touched the principal, and late fees started piling up.

Through Money Fit’s credit counseling, Sofia learned how to prioritize her budget. Her counselor proposed a Debt Management Plan, consolidating her credit cards and medical debt into one payment. Creditors agreed to lower interest rates, and some fees were waived.

With a clear plan and ongoing support, Sofia’s stress eased. Her monthly payment fit her income, and she began seeing real progress as her balances dropped steadily over time.

*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 and communities across the state.