RethinkingDebt is a nonprofit consumer credit counseling agency. Most of our support comes from creditors and clients who participate in our debt management plans. They have a financial interest in getting their account holders to pay off their debts. They are also willing to offer special terms exclusively to our clients. Creditor contributions are usually calculated as a percentage of the payments they receive through our debt management program. Please note that 100% of the payments that our clients make are sent to the creditors. We work with all creditors even if they do not contribute to our agency.
We charge a small fee, $40.00 per month, to cover the administration of our debt management programs. Our fees - some of the lowest in the industry - are included in the monthly payments that our clients make as part the program. We also charge a one-time set up fee of $25.00 that is due with the first payment. Our counseling services are free of charge.
Grants have traditionally been a small part of our funding base, but we do apply for non-profit grants on a regular basis. Our foreclosure prevention and reverse mortgage counseling programs are supported by grant funding from the Department of Housing and Urban Development (HUD).