Money Management International enrolled nearly 15,000 consumers in debt management plans during the first half of 2026, its highest midyear total since tracking began in 2017.
A credit counselor can review a household budget, recommend repayment strategies, and possibly arrange lower interest rates or waived fees.
Counselors cannot erase legitimate debts, guarantee creditor concessions, or remove accurate negative information from a credit report.
A record number of financially strained Americans are seeking professional help with their debts, as years of higher prices and costly credit card borrowing take a growing toll.
Nearly 15,000 consumers entered debt management plans through Money Management International (MMI) during the first six months of 2026. That was the nonprofit counseling organization’s highest year-to-date total since it began tracking enrollments in 2017, according to data reported by USA Today.
The average participant entered a plan owing approximately $40,000.
MMI also provided financial counseling to more than 40,000 households during the first half of the year. The number of counseling sessions has risen for five consecutive years and is 143% higher than in 2021.
The figures do not represent every credit counselor in the United States. However, they provide a snapshot of mounting financial pressure as consumers struggle with elevated living costs, high credit card interest rates, and record household debt.
U.S. household debt reached a record $18.8 trillion, according to the Federal Reserve Bank of New York. Consumer prices, meanwhile, have increased approximately 27% since early 2021.
Younger adults are among those seeking help. Generation Z consumers, ages 18 to 29, were MMI’s fastest-growing client group, increasing 35% over the last year.
Millennials accounted for 56% of the organization’s clients and had an average unsecured debt balance of $43,533. Generation X clients had the largest average balance, at $53,350.
What a credit counselor can do
A reputable counselor typically begins by reviewing the consumer’s income, living expenses, debts, and financial goals. The counselor may then help create a budget, identify which debts should receive priority, and recommend steps the consumer can take independently.
If the household has enough income to repay its unsecured debts but cannot keep up with current payments, the counselor may propose a debt management plan.
Under such a plan, the consumer generally makes one monthly payment to the counseling organization, which distributes the money to participating creditors. Creditors may agree to reduce interest rates, waive certain fees, or accept a more manageable payment schedule.
However, those concessions are not guaranteed.
The Consumer Financial Protection Bureau says counselors can also help consumers obtain their credit reports, understand their credit scores, and develop a personalized plan for addressing their money problems.
Credit counseling is different from debt settlement. Counseling organizations generally try to help consumers repay what they owe, while debt settlement companies attempt to persuade creditors to accept less than the full balance.
What a counselor cannot do
A credit counselor cannot force a lender or debt collector to accept a payment plan, lower an interest rate, or forgive part of a balance.
The counselor also cannot legally remove accurate negative information from a credit report. Late payments, charge-offs, and other valid information may remain on a report for years, even after a consumer enters a repayment program.
Nor can a counselor stop a creditor from filing a lawsuit, guarantee a higher credit score, or make unaffordable debt disappear. In some cases, the counselor may conclude that a debt management plan is not workable and suggest that the consumer speak with a bankruptcy attorney.
Consumers should be suspicious of anyone who promises instant debt forgiveness, guarantees results, or claims access to a special government debt-relief program. The Federal Trade Commission (FTC) says an unexpected call or text promising fast relief while requesting personal or financial information is a strong indication of a scam.
How to choose a counselor
The CFPB suggests beginning with organizations affiliated with the National Foundation for Credit Counseling or the Financial Counseling Association of America. The Justice Department also maintains a list of agencies approved to provide counseling required before bankruptcy.
Before signing up, consumers should:
Ask for a complete written list of services and fees.
Verify that counselors receive training and independent certification.
Check the organization with the state attorney general or consumer-protection agency.
Avoid an agency that recommends a debt management plan before reviewing the entire financial picture.
Ask whether employees receive commissions for enrolling clients.
Confirm proposed concessions directly with creditors.
Read the contract and understand which debts are — and are not — included.
Nonprofit status alone does not guarantee that an organization is inexpensive or trustworthy. A reputable agency should provide basic information without first demanding sensitive financial details, explain all options, and offer help even when a consumer cannot afford substantial fees.