Special audience guide
Are you a union member?
Union households often have member benefits, NFCC partnerships, and income stability that make a DMP an exceptionally strong fit. We have specific guides for 56 major U.S. unions.
What Is a Debt Management Plan?
A debt management plan (DMP) is a structured repayment program run through a nonprofit credit counseling agency. Unlike debt settlement, where you negotiate to pay less than you owe, a DMP keeps you paying the full balance but at significantly reduced interest rates. Your credit card company charging you 24% interest might agree to drop it to 6% or 8% through a DMP, which means more of every payment goes toward paying down the principal.
You make one monthly payment to the counseling agency, and they distribute it to all your creditors. Most DMPs run 3 to 5 years. Because you're still paying what you owe (just with lower interest), your credit score doesn't take the hit that settlement causes.
DMP vs. Debt Settlement: The Key Difference
Debt management: You pay back everything you owe, but at lower interest rates. Credit stays intact. Agencies are typically nonprofits with low fees ($7-$75/month).
Debt settlement: You negotiate to pay less than the full balance. Credit takes a major hit. Companies charge 15-25% of enrolled debt.
If you can afford your monthly payments with a rate reduction, a DMP is almost always the better option. Settlement should be a last resort for people who truly cannot repay.
Considering a personal loan to consolidate instead? Read our in-depth comparison: Why you don't need another loan to consolidate debt ›
What to Look For in a Credit Counseling Agency
Start with NFCC membership or equivalent credentials. Look for BBB accreditation with an A or A+ rating. Confirm the agency is a 501(c)(3) nonprofit. Free initial counseling is standard across legitimate agencies. If someone wants to charge you for the first consultation, that's a red flag.
On fees, most legitimate agencies charge a setup fee of $25 to $75 and monthly fees of $7 to $75. Many will reduce or waive fees for financial hardship. If fees seem unusually high or the agency is vague about pricing, look elsewhere.
Watch Out For Fake Nonprofits
Some for-profit companies disguise themselves as nonprofits or use names that sound like counseling agencies. Verify 501(c)(3) status, check for NFCC membership, and confirm BBB accreditation before sharing any financial information.
Large National Nonprofit Agencies
These are the biggest and most established nonprofit credit counseling agencies in the country. All are NFCC members or hold equivalent credentials, carry BBB A+ ratings, and offer free initial counseling. They serve clients nationwide and have decades of creditor relationships.
Money Management International (MMI)
MMI is the largest nonprofit credit counseling agency in the U.S. and one of the most heavily reviewed. BBB A+ rated since 1994, Trustpilot 4.6 stars from 1,865 reviews, and only 15 CFPB complaints in three years. Setup fees run $33-$75 and monthly fees $25-$59, with free general counseling available to anyone.
Read reviews on: Trustpilot, BBB, ConsumerAffairs
GreenPath Financial Wellness
GreenPath has been doing this since 1961 and holds a BBB A+ rating since 1968 (57 years of accreditation). Their 4.95-star BBB average from 1,297 reviews is exceptional. Beyond debt management, they're heavily involved in housing counseling and financial literacy programs. Fees vary by state from $0-$75/month.
Read reviews on: BBB, ConsumerAffairs
InCharge Debt Solutions
InCharge is a national nonprofit founded in 1997 with a BBB A+ rating and strong digital presence. They report a 96% customer satisfaction rate and Trustpilot scores of 4.8 stars. Setup runs $50-$75 and monthly fees average $32, with hardship reductions available.
Read reviews on: Trustpilot, BBB, ConsumerAffairs
Consolidated Credit
Consolidated Credit is one of the most visible names in the credit counseling space with a BBB A+ rating, 4.8 stars across 9,000+ Trustpilot reviews, and free counseling since 1993. Monthly DMP fees average around $40 with a $79 cap.
Read reviews on: Trustpilot, BBB, ConsumerAffairs
American Consumer Credit Counseling (ACCC)
ACCC consistently ranks among the lowest-fee and highest-rated credit counseling agencies. Their BBB profile shows a 4.98-star average from 450+ reviews, they have 3,800+ five-star Google reviews, and only 8 complaints in three years. Setup is just $39 and monthly fees start at $7.
Read reviews on: BBB, ConsumerAffairs
Mid-Size and Specialized Agencies
These agencies may have smaller client volumes or more regional focus, but many have decades of experience, strong credentials, and competitive fee structures. Several specialize in areas like housing, student loans, or financial education beyond basic debt management.
Cambridge Credit Counseling
Cambridge Credit Counseling has been BBB A+ accredited since 1998 and holds 4.9 stars on Trustpilot with just 2 BBB complaints in two years. Monthly fees average $30 with a $50 cap. They claim the average client saves $142/month through negotiated rate reductions. A quiet, steady performer.
Read reviews on: Trustpilot, BBB, ConsumerAffairs
Take Charge America
Take Charge America stands out for two things: consistently low fees (setup capped at $50, monthly rarely over $35) and being the only credit counseling agency to win the BBB Business Ethics Award. Founded in 1987, they've resolved over $500 million in debt. They also offer student loan counseling.
Read reviews on: BBB, Trustpilot
Apprisen
Apprisen is one of the oldest agencies in the country, originally founded in 1955 as Consumer Credit Counseling Service of the Midwest. BBB A+ rated since 1981, 4.9 stars from 100+ reviews, and they've guided over 750,000 people. Setup and monthly fees are both $45 (with hardship waivers available).
Read reviews on: BBB, ConsumerAffairs
Credit.org
Credit.org has held a BBB A+ rating for 40+ years and carries impressive credentials: NFCC, HUD-approved, and COA accredited. They offer debt management, housing counseling, bankruptcy counseling, and military-specific programs. The catch: their fee structure isn't publicly disclosed and their online review presence is thinner than competitors.
Read reviews on: BBB
Navicore Solutions
Navicore Solutions is a Northeast-based nonprofit operating since 1991 with a BBB A+ rating and NFCC certification. Customer reviews average 4.86 stars but the total review volume is small (around 30). Their fee structure also lacks transparency. Six BBB complaints in three years.
Read reviews on: BBB, Trustpilot
How Much Can a DMP Save You?
The savings from a DMP come from interest rate reductions, not balance reductions. If your credit cards are charging you 22% to 28% and a DMP gets those rates down to 6% to 9%, the savings are substantial.
Example: $20,000 in Credit Card Debt at 24% APR
Without a DMP: Paying $500/month at 24% takes about 5.5 years and costs $12,700+ in interest
With a DMP at 8%: Paying $500/month takes about 3.8 years and costs $3,300 in interest
Interest savings: Roughly $9,400, minus DMP fees of $1,500-$3,000
Net savings: $6,400 to $7,900
Your actual savings depend on your interest rates, total debt, and the rates your counseling agency can negotiate. But the math typically works strongly in your favor, especially on high-interest credit card debt.
Frequently Asked Questions
What is a debt management plan?
A DMP is a structured repayment program through a nonprofit credit counseling agency. The agency negotiates reduced interest rates with your creditors, and you make one monthly payment to the agency, which distributes it to all your creditors. You pay back everything you owe, but with lower interest.
How is a DMP different from debt settlement?
With a DMP, you pay the full balance at reduced interest rates. Your credit stays intact. With settlement, you negotiate to pay less than the full amount, but your credit score drops significantly. A DMP is generally better if you can afford the lower-interest payments.
How much does a DMP cost?
Most nonprofit agencies charge a one-time setup fee of $25 to $75 and monthly fees of $7 to $75. Many will reduce or waive fees for financial hardship. Total DMP fees over 3-5 years typically run $1,500 to $3,000.
How long does a DMP take?
Most DMPs run 3 to 5 years (36 to 60 months). The timeline depends on how much you owe, how much you can pay monthly, and the interest rates your agency negotiates.
Will a DMP hurt my credit score?
No. Unlike settlement, a DMP does not require you to stop paying creditors. Your accounts stay current, and consistent on-time payments can actually improve your score over time. A DMP notation may appear on your credit report, but it's not a negative mark.
Can I use a DMP for any type of debt?
DMPs work primarily for unsecured debt like credit cards, medical bills, and some personal loans. They don't cover mortgages, auto loans, student loans (though some agencies offer separate student loan counseling), or tax debt.