Nonprofit Credit Counseling
Debt Consolidation in Michigan
Money Fit offers Michigan residents a nonprofit debt consolidation option through a debt management plan. You make one monthly payment for eligible unsecured debts, and Money Fit distributes it to participating creditors. Those creditors may reduce interest rates or waive certain fees.
A debt management plan repays your existing accounts. It is not a new loan, debt settlement, or debt forgiveness. Debt Reduction Services, Inc. does not lend money.
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Average monthly payment reduction over $250*
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 clearer payoff path
Combine eligible debts into one payment. Reduced interest can help you repay balances sooner than making minimum payments alone.
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A practical plan and ongoing support
Understand the proposed payment, where the money goes, and what happens next before you decide to enroll.
*Based on Money Fit client enrollment data, not a Michigan-specific average. This measures a change in monthly debt payments, not debt forgiveness. Individual payment changes and results vary.
Debt Management Plans and Major Creditors
Money Fit works with many major credit card companies and unsecured creditors through nonprofit debt management plans. If your accounts are eligible and the creditors participate, a plan may organize several payments into one monthly amount and provide lower interest rates or certain fee concessions.
The creditors shown are examples, not a complete list or an endorsement. Participation, account eligibility, concessions, and available terms depend on the creditor and account.
How Money Fit helps consolidate your debt payments
Start with nonprofit credit counseling to review your household budget, balances, interest rates, and current payments. A counselor helps you compare your options and determine whether a debt management plan fits.
With a debt management plan, you make one monthly payment to Money Fit for eligible unsecured debts. Money Fit distributes it to participating creditors according to the plan. Lower interest or certain fee concessions may reduce the cost of repayment, depending on the creditor and account. You remain responsible for repaying the included balances.
Michigan residents can begin online or by phone. You can work with a counselor without visiting an office, and requesting a review does not require enrollment.
Verify the agency behind Money Fit
Money Fit is operated by Debt Reduction Services, Inc., a member of the National Foundation for Credit Counseling and the Financial Counseling Association of America. Their public listings provide another way to identify the credit counseling agency behind Money Fit.
Choose the starting point that matches your situation
The right next step depends on your budget, eligible debts, account status, and whether you have enough monthly room to repay the balances without a formal plan.
I am not sure where to start
A nonprofit credit counseling review can help sort through the budget, eligible debts, and possible repayment paths before any program is discussed.
See how nonprofit credit counseling worksI want to combine my debt payments
A debt management plan combines eligible unsecured debts into one monthly payment. Participating creditors may offer reduced interest or certain fee concessions.
Learn how debt management plans workI can repay the balances on my own
Snowball and avalanche methods may work when the budget has enough room to pay more than the minimums consistently.
Explore debt repayment guidesWhat a nonprofit debt management plan may improve
The value of a debt management plan is not limited to having one payment. When the plan fits the household budget and creditors participate, it may also reduce the cost and day-to-day strain of repayment.
A simpler monthly routine
Money Fit receives one monthly payment and disburses funds to participating creditors. You continue paying bills and debts outside the plan separately.
Potentially lower rates and fees
Depending on the creditor and account, a plan may reduce interest rates, stop certain late or over-limit fees, and lower the combined monthly debt payment.
A clearer repayment schedule
Many plans are designed to be completed within 60 months. Reduced interest or fees can allow more of each payment to go toward reducing balances. Your schedule depends on the plan terms and payments.
How a nonprofit debt management plan works
Money Fit reviews the full financial picture before discussing whether a plan may fit. A debt management plan is one possible outcome of counseling, not a requirement.
Review the budget and debts
Income, essential expenses, balances, interest rates, minimum payments, due dates, and account status help determine what is realistic.
Review eligible accounts
Money Fit reviews which unsecured debts may be included and what participating creditors may offer. You review the proposed payment, applicable fees, and account terms before deciding.
Make one monthly payment
If you enroll, Money Fit receives one payment and disburses funds to participating creditors according to the plan. You remain responsible for making the agreed payments.
Build repayment around your Michigan household
Build your Michigan repayment budget around housing, food, utilities, transportation, insurance, medical care, child care, and other essentials. Include heating bills and set aside money for seasonal costs, vehicle repairs, and insurance payments that may not arrive every month. If credit cards have been covering essentials, discuss that shortfall during counseling so the proposed payment does not depend on continued borrowing.
Find community assistance anywhere in Michigan
Michigan 211 connects residents statewide with local resources for food, housing, utilities, transportation, and other essential needs. Call 211 or (844) 875-9211 for free, confidential referrals, available 24 hours a day, every day. You can also search its online directory. Contact the referred provider to confirm eligibility and current availability.
Check Michigan home energy assistance
The Michigan Energy Assistance Program helps eligible low-income households with energy costs for their primary residence, including electricity, natural gas, propane, heating oil, and other heating fuels. Assistance is provided through participating agencies. Call 211 to find a provider serving your community, and ask that provider about current funding, application steps, and eligibility. Availability varies; a referral does not guarantee assistance.
For additional options, use our Michigan assistance directory.
These programs have their own eligibility rules, application periods, funding limits, and service areas. They are separate from Money Fit's debt services. Money Fit does not provide cash, housing, food, utility, or government benefits.
What to know before enrolling
Money Fit explains the proposed payment, applicable fees, participating accounts, account treatment, and alternatives before you decide whether to begin.
Fees are explained first
Enrollment and monthly fees may apply. Money Fit explains any applicable fees before you decide whether to enroll.
Creditor terms vary
Money Fit cannot guarantee creditor acceptance, interest reductions, fee concessions, a lower monthly payment, or a specific payoff date.
Account treatment varies
Many participating creditors require enrolled credit card accounts to be closed or restricted to new charges. Treatment depends on the creditor, account status, and program terms.
Credit impact varies
A debt management plan may affect credit based on account status, creditor reporting, payment history, account closures, and balance changes.
Debt consolidation information for Michigan cities
Explore Money Fit debt consolidation information for the Michigan communities listed below. Residents of other Michigan communities can also request counseling by phone or online. These city pages describe service availability and do not represent local Money Fit offices.
For other locations, browse debt consolidation information by state.
Start with a confidential debt review
Share a few details so Money Fit can help you compare nonprofit credit counseling, debt management, and self-guided repayment before you choose a path. Requesting help does not require enrollment.
Michigan debt consolidation questions
How does Money Fit help Michigan residents consolidate debt?
Money Fit provides nonprofit credit counseling and debt management plans for Michigan residents. A plan combines eligible unsecured debts into one monthly payment to Money Fit, which distributes funds to participating creditors. Participating creditors may reduce interest rates or waive certain fees. Eligibility and terms vary by creditor and account.
Do I need to visit a Money Fit office in Michigan?
No. Money Fit serves Michigan residents by phone and online. You can request a counseling review without visiting an office. The Michigan city pages describe areas served and do not represent local Money Fit offices.
How is a debt management plan different from a consolidation loan?
A consolidation loan replaces existing balances with new credit. A debt management plan works with existing eligible debts and does not create a new loan. Debt Reduction Services, Inc. does not lend money. Participating creditors may provide interest or fee concessions. A debt management plan is not debt settlement, and you remain responsible for repaying the included debts.
Do I need good credit for nonprofit debt consolidation?
Credit counseling does not require approval for a new loan or a hard credit inquiry from Money Fit. Whether a debt management plan fits depends on the debts, account status, creditor participation, program rules, and household budget.
What debts can be included in a debt management plan?
Plans generally focus on eligible unsecured debts such as credit cards, some unsecured personal loans, medical bills, collection accounts, and certain payday loan balances. Eligibility varies by debt type, account, creditor participation, state rules, and program rules.
Will my credit cards be closed?
Many participating creditors require enrolled credit card accounts to be closed or restricted to new charges. Treatment depends on the creditor, account status, and program terms.
Can a debt management plan lower my monthly payment?
A debt management plan may lower the combined monthly payment when participating creditor terms and the household budget allow. The result depends on balances, rates, creditor concessions, and account details, so Money Fit does not guarantee a lower payment.
What fees should I expect?
Enrollment and monthly fees may apply. Money Fit explains any applicable fees, the proposed payment, and the participating accounts before you decide whether to enroll. A counseling conversation does not require you to join a plan.
Will a debt management plan affect my credit?
A debt management plan may affect credit based on account status, creditor reporting, payment history, account closures, and balance changes. Results vary by consumer and account.
Does talking with Money Fit require enrollment?
No. Counseling is intended to help you understand your budget and possible next steps. If a program is discussed, Money Fit explains the details before you decide whether to enroll.
Michigan licensing information
Money Fit is the consumer-facing brand of Debt Reduction Services, Inc., doing business as Money Fit by DRS. Debt Reduction Services, Inc. is licensed by the Michigan Department of Insurance and Financial Services under license DM0020620, as listed on our state licenses and registrations page.
Regulator: Michigan Department of Insurance and Financial Services
530 W. Allegan Street, 7th Floor
Lansing, MI 48933
Mailing address: P.O. Box 30220, Lansing, MI 48909-7720
(877) 999-6442 or (517) 284-8800
Michigan debt management licensing and licensee locator
The following Michigan Debt Management Act provisions describe legal limits and consumer rights. These statutory amounts are not a quote of Money Fit's fees. Money Fit explains applicable fees before enrollment.
451.423 Initial fee; consent of creditor; presumption. Sec. 13(1) and (2).
(1) When a licensee establishes a debt management plan for a debtor, the licensee may charge and receive an initial fee of $50.00.
(2) A licensee shall attempt to obtain consent to participate in a debt management plan from at least 51%, in number or dollar amount, of the debtor's creditors within 90 days after establishing the debt management plan. If the required consent is not actually received by the licensee, the licensee shall provide notice to the debtor of the lack of required consent and the debtor may, at its option, close the account. If the debtor decides to close the account, any unexpended funds shall be returned to the debtor or disbursed as directed by the debtor.
451.424 Contract between licensee and debtor; requirements. Sec. 14(1).
(1) A contract between a licensee and debtor shall include all of the following:
(a) Each creditor to which payments will be made and the amount owed each creditor. A licensee may rely on records of the debtor and other information available to it to determine the amount owed to a creditor.
(b) The total amount of the licensee's charges.
(c) The beginning and termination dates of the contract.
(d) The principal amount and approximate interest charges of the debtor's obligations to be paid under the debt management plan.
(e) The name and address of the licensee and of the debtor.
(f) Any other provisions or disclosures that the director determines are necessary for the protection of the debtor and the proper conduct of business by a licensee.
451.428 Fees, cancellation, and excessive charges. Sec. 18.
(1) In addition to the fee described in section 13(1), a licensee may charge a reasonable fee for providing debt management services under a debt management plan. The fee under this subsection shall not exceed 15% of the amount of the debt to be liquidated during the express term of the plan.
(2) A licensee may offer a debtor the option to purchase credit reports or educational materials and products, and charge a fee to the debtor if the debtor elects to purchase any of those items from the licensee. Fees charged under this subsection are not subject to the 15% limitation on fees described in subsection (1).
(3) Except for a cancellation described in subsection (4), in the event of cancellation of or default in the performance of the contract by the debtor before its successful completion, a licensee may collect $25.00 in addition to any fees and charges of the licensee previously received by the licensee. This $25.00 fee is not subject to the 15% limitation on fees and charges under subsection (1).
(4) A contract is in effect when it is signed by the licensee and the debtor and the debtor has made a payment of any amount to the licensee. The debtor has the right to cancel the contract until 12 midnight of the third business day after the first day the contract is in effect by delivering written notice of cancellation to the licensee. A cancellation described in this section is not subject to, and a licensee shall not collect, the fee described in subsection (3).
(5) If a debtor fails to make a payment of any amount to a licensee within 60 days after the date a payment is due under a contract, the licensee may, in its discretion, cancel the debt management contract if it determines that the plan is no longer suitable for the debtor, the debtor fails to affirmatively communicate to the licensee the debtor's desire to continue the plan, or the creditors of the debtor refuse to continue accepting payments under the plan.
(6) A licensee shall not contract for, receive, or charge a debtor an amount greater than authorized by this act. A person that violates this subsection, except as the result of an inadvertent clerical or computer error, shall return to the debtor the amount of the payments received from or on behalf of the debtor and not distributed to creditors, and, as a penalty, an amount equal to the amount overcharged.
Read the Michigan Debt Management Act.
Debt Reduction Services, Inc. does not lend money. The regulator address above is not a Money Fit office. Money Fit serves Michigan residents by phone and online. For counseling, call (800) 432-0310.