Nonprofit help paying down unsecured debt
Debt Reduction Services
Money Fit helps people make credit cards and other unsecured debts easier to repay. That may include a clearer budget, help understanding creditor options, or one structured monthly payment through a nonprofit debt management plan.
-
One Clearer Repayment Plan
Bring eligible unsecured debts into one organized plan instead of juggling several balances, due dates, and minimum payments.
-
Potential Interest and Fee Relief
When creditors participate, eligible accounts may receive reduced interest rates or certain fee concessions. Terms vary by creditor and account.
-
A Payment Built Around Real Life
Money Fit looks at housing, food, transportation, insurance, and other essentials before deciding whether a repayment plan is realistic.
Not a new loan
Money Fit does not lend money. A debt management plan works with eligible debts you already have.
Not debt settlement
Money Fit does not ask you to stop paying creditors as a negotiation tactic and does not promise to erase principal balances.
Major Creditors Money Fit Works With
Money Fit works with many major credit card issuers and unsecured creditors through nonprofit debt management plans.
A listed creditor may not accept every account. Participation, interest or fee concessions, and account treatment depend on the creditor, account status, and program rules.
What debt reduction services mean at Money Fit
Debt reduction services should help you 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 looks at the balances, interest rates, minimum payments, account status, and monthly budget. Depending on what you need, the answer may be a do-it-yourself payoff plan, questions to ask creditors, or a debt management plan for eligible unsecured debts.
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 plan based on the lender, collector, account status, and state.
Get help with payday loansHow 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.
Money Fit is provided by Debt Reduction Services, Inc.
Debt Reduction Services, Inc. is a nonprofit credit counseling organization founded in 1996. It provides consumer counseling and debt management services under the Money Fit name.
The legal name and the service name are connected: Money Fit is the consumer-facing service of Debt Reduction Services, Inc.
What debt reduction services cannot promise
Honest debt help should explain both the possible benefit and the limits before asking you to enroll.
No guaranteed lower payment
A plan may make monthly payments easier to manage, but the amount depends on the debts, creditor terms, fees, and household budget.
No guaranteed creditor concessions
Money Fit cannot promise reduced interest, waived fees, creditor acceptance, account treatment, or a specific payoff date.
No promise to erase debt
A debt management plan is built to repay eligible balances. Money Fit does not promise debt forgiveness or reduced principal.
No guaranteed credit-score result
Credit can change for many reasons. Money Fit does not promise a particular score increase or account-removal result.
Talk with a nonprofit credit counselor
Share a few details so Money Fit can look at 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?
Many credit card accounts included in a debt management plan are closed or restricted from new charges. Creditor policies and account treatment 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.
