Debt Management Plans

Find a Path Out of Debt with Our Nonprofit Debt Management Plan

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Choosing which bills get paid this month? Dealing with credit card debt? Debt collectors won’t stop calling? Feeling stressed about money? Don't wait...take action now.

We offer nonprofit debt relief services such as a nonprofit Debt Management Plan (DMP) which may lower your payments and reduce interest rates by consolidating your payments into one each month. We are certified by the National Foundation for Credit Counseling (NFCC) and our financial counselors are ready to support you in achieving financial wellness!

What is a DMP?

A Debt Management Plan is an agreement made between you and your creditors to pay off outstanding debts. You create a plan with a financial counselor, consolidate your payments, then make one payment to us each month, and we send the funds to your creditors.

Payments for a DMP are typically lower than your current payments, and most creditors will significantly reduce interest rates and stop fees once you are on a DMP. With on-time payments, your debt will be paid off in five years or less. This timing depends on the amount of your balances.

Debt Management Plans with LSS Financial Counseling:

  • Provides an affordable payment plan and the simplicity of one payment.
  • Typically lowers your interest rates.
  • Helps you pay off your debt faster.
  • Results in full repayment of your debts.
  • Takes the fear out of answering the phone and opening your mail.
  • Includes ongoing support from a dedicated support team and your NFCC-certified financial counselor whose goal is helping you achieve financial wellness.

Learn How a DMP Works and Get Started

View our Debt Management Plan Roadmap to see what this process looks like in practice. Find out how to set up an appointment with our financial counselors.

Is There a Fee?

Your debt counseling sessions with a financial counselor are completely free. If you choose to start a Debt Management Plan (DMP), you will pay a small monthly fee to LSS. This can vary by the state you live in and amount you owe. A small one-time DMP setup fee may also be charged. Your counselor will explain all your options and applicable fees during your counseling session.

What Do I Need for Counseling?

In order for your financial counseling session to be as productive as possible, it is helpful to have the following information available:

  • Your monthly income
  • Typical monthly expenses
  • Statements from your creditors
  • Any other information you believe would be helpful in understanding your financial situation

Don't have everything? Don't worry — contact us anyway! We'll guide you every step of the way!

Learn more about how a Debt Management Plan works.

Pay Off Debt with an LSS Nonprofit Debt Management Plan

Matthew's life is a lot freer and a lot less worrisome after completing a DMP with us!


The Pros and Cons of Debt Management Plans

Learn about the pros and cons of Debt Management Plans.


Debt Management Plans vs. Debt Consolidation Loans

Learn about the differences between Debt Management Plans and debt consolidation loans.


Get Started Today

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Our free and confidential services are available nationwide by phone or virtually. We also offer in-person appointments across Minnesota.

We have counselors who are fluent in Spanish and Hmong. In addition, American Sign Language (ASL) interpretation is available as needed.

Get Started



LSS Financial Counseling