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REPAY WITH A STRUCTURE
Debt management
Work with a nonprofit credit counselor on a repayment plan.
Worth exploring when…
You could repay principal if interest or payment terms became more manageable.
Possible fit, not an eligibility decision.What a useful next step looks like.
- 01
Start with a budget review
A counselor should look at your income, essential expenses and debts before discussing a plan.
- 02
Review the proposal
Check the payment, agency fees, length of the plan, account restrictions and which creditors have agreed to participate.
- 03
Confirm payments reach creditors
Continue reviewing statements and keep records. Ask how late or missed plan payments would affect the arrangement.
THE OTHER SIDE OF THE DECISION
What to weigh.
Regular payments are still required. Plan fees, account restrictions and creditor participation vary.
Bring better questions.
- Is counseling free, and what would a plan cost?
- Which creditors have accepted the proposed terms?
- Would any accounts need to be closed?
- What if my income changes during the plan?
Go to the source.
Checked October 15, 2026. General education; individual circumstances and applicable rules matter.