Nonprofit credit counseling and debt management plans

Nonprofit credit counseling agencies can review your budget and debts with you, often for free. Some offer a debt management plan that may lower interest rates on credit cards.

What they do

• Review your income, expenses and debts
• Help you build a budget
• Explain your options, including a debt management plan
• For a plan: you make one monthly payment to the agency, which pays your creditors

Choose carefully

• Look for nonprofit agencies affiliated with groups like the National Foundation for Credit Counseling (NFCC)
• Ask about all fees, in writing
• Be wary of anyone who pushes one option before reviewing your situation

General educational information, not financial or legal advice. Nickel Keepers isn't paid by any lender, card company or debt relief company.