You Started a Debt Management Plan and Can’t Finish It. Here’s What Actually Happens.
Over 70% of people who start a DMP never finish. The credit counseling industry won’t tell you that. Here’s what happens — and what to do about it.
Credit Counseling
Consumer credit counseling subjects and topics can be found here. A discussion of consumer credit counseling and the impact and benefits it may have are discussed here.
Credit Counseling vs. Bankruptcy: What I Learned Running One Side and Filing the Other.
I founded a credit counseling org and I filed bankruptcy. Here is the side-by-side comparison the enrollment process does not show you.
I Founded a Credit Counseling Agency. Here Is How They Actually Make Money.
Fair share payments, setup fees, and a revenue model tied to enrollment — not outcomes. From someone who built one of these organizations.
The Sandwich Generation Debt Crisis: $295,000 Lost and Nobody Talking About It
23% of American adults are caught between supporting aging parents and raising children. The Urban Institute calculates the lifetime cost at $295,000. A debt expert since 1994 explains why standard advice fails — and what actually works.
Credit Card Hardship Program vs. Debt Management Plan: What a Credit Counseling Insider Recommends
I founded a credit counseling organization. Here is when calling your credit card company directly beats enrolling in a GreenPath DMP — and when the DMP is actually the right move.
Credit Counseling: The Complete Guide to Debt Management Plans
Everything you need to know about credit counseling and debt management plans — how they work, what they cost (including the hidden $400K retirement impact), how to verify agency financial health, and reviews of 25 specific agencies.
The State of Nonprofit Credit Counseling: What the IRS Data Reveals
IRS Form 990 data from 43 nonprofit credit counseling agencies reveals half operate at a deficit most years, NFCC membership provides no protection, and the COVID surplus was a temporary anomaly. Here’s what the money shows about your DMP.
Is DRS MoneyFit Credible or a Scam?
Quick Answer: DRS MoneyFit is a legitimate nonprofit credit counseling agency registered with the IRS and approved by U.S. Trustees for bankruptcy counseling services. However, experts question whether their debt management approach truly serves clients’ best interests compared to other debt relief options like bankruptcy.Question:Dear Steve,I signed up for debt reduction management counseling and enrolled …
American Consumer Credit Counseling: Is It Legit?
Steve Rhode answers Arianna’s question about credit counseling on disability income. He explains that federal law protects disability benefits from…
Is Apprisen Legit or a Scam?
Quick Answer: Apprisen is a legitimate nonprofit credit counseling organization, but their revenue heavily depends on Debt Management Plan fees which may create bias toward that solution. The author suggests consumers need comprehensive evaluation of all debt options, not just DMPs that Apprisen specializes in selling.Question:Dear Steve,Should I use a company like Apprisen to enter …
