Frequently Asked Questions
These are the questions we hear most often about Money Fit, credit counseling, and nonprofit debt management plans. If your question isn’t listed, we’re happy to help you clarify what applies to your situation.
- Credit counseling is always free. You can talk with a counselor without enrolling in anything.
- Fees vary by state. If you choose a debt management plan, we disclose all fees before enrollment.
- Nationwide support. We offer phone and online counseling across the U.S.
FAQs
Who is Money Fit?
Money Fit is a nonprofit credit counseling and financial education organization operated by Debt Reduction Services, Inc., a 501(c)(3) nonprofit. We help individuals understand their financial situation, explore options for managing unsecured debt, and build sustainable money habits.
How can Money Fit help me with debt?
Money Fit starts with free credit counseling. A certified counselor reviews your income, expenses, and debts, then helps you understand your options. When appropriate, those options may include a nonprofit debt management plan. If a plan isn’t a good fit, we still provide budgeting guidance and education to support self-managed repayment.
What types of debt does Money Fit work with?
Money Fit focuses on unsecured debts, including:
- Credit cards
- Medical bills
- Collections
- Payday loans and short-term unsecured debts
We work with thousands of creditors nationwide, including major credit card issuers and many medical providers.
How does credit card debt consolidation work?
The process typically includes:
- Free credit counseling: A counselor reviews your situation and discusses repayment options.
- Debt management plan, if appropriate: We work with creditors to combine eligible debts into one monthly payment, often with reduced interest rates or fees.
- Repayment over time: Accounts are paid down according to the agreed plan.
Who qualifies for Money Fit’s debt relief program?
Eligibility is based on individual financial need, not preset criteria. Many people who consider a plan:
- Struggle to keep up with minimum payments
- Have high debt-to-income ratios
- Want a structured repayment approach
There are no enrollment requirements to receive counseling. Credit counseling is available to everyone, whether or not they enroll in a plan.
Does Money Fit charge fees?
Credit counseling and financial education are always free. Fees apply only if you choose to enroll in a nonprofit debt management plan, and they vary by state and individual circumstances.
Over the past 12 months, the average enrollment fee was approximately $63, and the average monthly fee was approximately $31. All fees are disclosed before enrollment, and there is no obligation to proceed.
What does it mean that Money Fit is a nonprofit?
As a 501(c)(3) nonprofit, Money Fit prioritizes education, counseling, and long-term financial stability over profit. Our goal is to help people make informed decisions and reduce financial stress, not to sell financial products.
Where does Money Fit offer services?
Money Fit is licensed and registered in all 50 states and Washington, D.C. Counseling is available by phone and online nationwide, with in-person services offered where we have physical offices, including New York and Idaho.
What happens if Money Fit isn’t the right fit for me?
Not every option works for every situation. If a debt management plan isn’t appropriate, our counselors still provide education, budgeting guidance, and referrals to help you move forward independently.
Is Money Fit legit?
Yes. Money Fit is operated by Debt Reduction Services, Inc., a licensed 501(c)(3) nonprofit that complies with state and nonprofit regulations nationwide. You can review official credentials on our Licensing Information page.
Last reviewed: January, 2026 | URL: /frequently-asked-questions/
