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.
Quick Answer: MMI’s fees ($50 setup, $40 monthly) are reasonable for nonprofit credit counseling, but the $1,045 monthly payment plan may not solve the underlying affordability issue. If someone struggles with current minimum payments, a similar amount through debt management likely won’t provide sustainable relief.“Dear Steve,We are in debt for about $55,000. I am behind …
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