Quick Facts
Full Review
Money Management International is the biggest nonprofit credit counseling agency in the country, and it's been around in some form since the 1950s. The current organization formed in 1997 when several regional nonprofits merged under one name. They're headquartered in Phoenix, Arizona.
Their BBB profile tells a clear story: A+ rating since 1994, over 250 reviews averaging nearly five stars, and just 15 CFPB complaints in three years. For an organization serving tens of thousands of consumers annually, that complaint volume is remarkably low. On Trustpilot, they hold 4.6 stars across 1,865 reviews with 89% rating five stars.
How a Debt Management Plan Works at MMI
A debt management plan (DMP) is fundamentally different from debt settlement. With settlement, you stop paying creditors and negotiate a lower payoff amount. With a DMP, you keep paying what you owe, but a counseling agency negotiates lower interest rates and waived fees with your creditors. You make one monthly payment to the agency, and they distribute it to all your creditors.
At MMI, you start with a free counseling session where a certified counselor reviews your income, expenses, and debts. If a DMP makes sense, they'll propose a plan. Setup fees range from $33 to $75, and monthly fees run $25 to $59 depending on your state and situation. If those fees are a hardship, MMI may reduce or waive them.
Most DMPs at MMI run three to five years. During that time, your creditors typically agree to reduced interest rates (often dropping from 20%+ to somewhere in the 6% to 9% range), which means more of each payment goes toward principal. You don't get a balance reduction like settlement, but you also don't destroy your credit in the process.
Beyond Debt Management
MMI offers a lot more than DMPs. They provide free one-on-one credit counseling, student loan counseling, bankruptcy counseling (required pre-filing and post-filing), housing counseling (HUD-approved), disaster recovery financial counseling, and specialized programs for military families. The breadth of services sets them apart from agencies that only do DMPs.
What Customers Say
The review profile is strong across every major platform. The most common praise centers on knowledgeable counselors and real interest rate reductions that made debt payoff feel achievable. The small number of complaints tend to involve processing delays or miscommunication about payment timing. Given the volume of clients, those complaints represent a fraction of a percent.
Who Should Consider MMI
If you want the largest, most established nonprofit in the space with the broadest range of services, MMI is the default recommendation. The free counseling alone is worth a call even if you're not sure a DMP is right for you. They'll give you an honest assessment of your options.
Pros and Cons
Pros
- Largest nonprofit credit counseling agency in the U.S.
- BBB A+ rated since 1994 with near-perfect review scores
- Only 15 CFPB complaints in three years across massive client volume
- Free general counseling, housing counseling, student loan help
- NFCC certified and HUD-approved
Cons
- Setup fees of $33-$75 and monthly fees of $25-$59 add to total cost
- DMP takes 3-5 years to complete
- Some reports of payment processing delays
- Does not reduce the amount you owe, only the interest rate
Where to Read More
Read reviews on: Trustpilot, BBB, ConsumerAffairs