NONPROFIT CREDIT COUNSELING SINCE 2001
Understand Your Debt With Nonprofit Credit Counseling
DebtWave provides nonprofit credit counseling to help consumers understand their finances, manage credit card debt and compare realistic repayment options. Our counselors can review your budget, monthly payments and creditor balances before helping you determine which next step may fit your financial situation.
In addition to counseling, DebtWave provides financial education and Debt Management Programs for eligible consumers. Most importantly, you do not need to know which service you need before contacting us.Free initial consultation • No new loan • No obligation to enroll
501(c)(3)
Nonprofit Organization
Since 2001
Helping Consumers
NFCC
Member Agency
No New Loan
Debt Management Option
HOW DEBTWAVE CAN HELP
Take Control of Your Finances and Credit Card Debt
Financial problems rarely have one simple cause. Therefore, DebtWave looks beyond a single credit card balance or monthly payment. First, we help you understand your income, expenses and debts. Next, we explain practical options that may improve your financial situation.Credit Counseling
Review your budget, debts and financial goals with a counselor. Then, compare possible repayment strategies before deciding what to do next. Learn About Credit Counseling →Financial Education
Build practical money-management skills through DebtWave's Smart With Your Money program. Topics include budgeting, saving, credit, debt and financial goals. Explore Financial Education →Debt Management
When appropriate, a Debt Management Program can provide a structured way to repay eligible unsecured debts without taking out a new loan. Learn About Debt Management →START WITH COUNSELING
Start With Free Nonprofit Credit Counseling
You do not have to enroll in a program to speak with DebtWave. Instead, you can begin with a free counseling session and review your complete financial situation. During a nonprofit credit counseling session, a counselor reviews your income, household expenses, credit card balances and other financial obligations. Afterward, you can better understand how your current payments affect your overall budget. As a result, you can compare your options before making a financial decision. Learn More About Free Credit Counseling →Nonprofit Credit Counseling Can Help You:
- Understand where your money goes each month
- Review credit card balances and interest rates
- Create or improve a household budget
- Identify areas where expenses may be reduced
- Compare different debt repayment strategies
- Determine whether a Debt Management Program may help
PERSONALIZED FINANCIAL REVIEW
What to Expect From Nonprofit Credit Counseling
Numbers can make financial decisions easier to understand. Therefore, DebtWave's counseling process focuses on your actual income, expenses, debts and financial goals rather than general advice alone. Nonprofit credit counseling gives you an opportunity to review your complete financial picture with a counselor. Additionally, you can discuss possible repayment strategies and identify areas of your budget that may need attention. If a Debt Management Program appears appropriate, DebtWave can also help you compare your existing creditor payments with estimated program terms.SEE THE BIGGER PICTURE
Get a Personalized Financial Analysis
Your Financial Analysis Report can help organize the information discussed during counseling. For example, the report may include your household budget, debts, financial ratios and potential repayment options. Consequently, you can review the numbers after your counseling session instead of relying only on memory. If a DMP appears appropriate, the analysis may also help you compare current payments with estimated program terms. View Sample Financial Analysis Report
FINANCIAL EDUCATION
Build Better Money Habits With Smart With Your Money
Paying off debt can solve today's problem. However, financial education can help you prepare for tomorrow. For that reason, DebtWave created the Smart With Your Money financial education program. Topics include budgeting, credit, saving, debt management and financial goal setting. Moreover, the program helps consumers think beyond monthly bills and develop habits that may support greater long-term financial stability. Explore Smart With Your Money →PRACTICAL MONEY SKILLS
Financial Education That Goes Beyond Paying Off Debt
Getting out of debt is important. Nevertheless, staying out of debt may also require stronger budgeting, saving and credit-management habits.✓ Creating a realistic budget
✓ Understanding credit and credit scores
✓ Building emergency savings
✓ Setting financial goals
✓ Managing and reducing debt
✓ Understanding spending habits
✓ Planning for future expenses
✓ Building financial confidence
STRUCTURED DEBT REPAYMENT
Pay Off Credit Card Debt Thru Nonprofit Credit Counseling
When credit card interest makes repayment difficult, a Debt Management Program may provide another option. A DMP does not replace your credit cards with a new loan. Instead, DebtWave works with participating creditors under their current program guidelines. Eligible accounts may receive reduced interest rates, payments or other concessions. Therefore, a structured program may make repayment more manageable for some consumers. Qualifying clients generally make one scheduled program payment, and DebtWave distributes the appropriate amounts to participating creditors.DEBTWAVE RESULTS
DebtWave's Historical Debt Management Program Results
DebtWave analyzed clients who enrolled in its Debt Management Program from 2016 through 2020. During that period, 14,670 consumers enrolled and 10,038 successfully completed their programs. As a result, DebtWave calculated a historical completion rate of 68.4%. In addition, consumers have repaid more than $325 million in credit card debt through DebtWave's Debt Management Program since 2001.
68.4%
Historical DMP Completion Rate*
10,038
Clients Successfully Completed*
$325M+
Credit Card Debt Repaid
*Historical results reflect DebtWave clients who enrolled in Debt Management Programs from 2016 through 2020. Of 14,670 enrolled clients, 10,038 successfully completed their program. Past results do not guarantee individual outcomes.
WHAT COULD CHANGE?
How a Debt Management Program May Help
High credit card APRs can cause a large portion of your monthly payment to go toward interest. However, participating creditor concessions may change how quickly your balances decline. Because every creditor has its own guidelines, actual payments, interest rates and concessions depend on your accounts and current program terms.
%
Potentially Lower APRs
Participating creditors may reduce interest rates on eligible accounts under their current guidelines.
1
One Program Payment
Qualifying clients generally make one scheduled payment for accounts participating in the DMP.
✓
Structured Repayment
A DMP can create a more organized path toward repaying eligible unsecured debt without another loan.SEE WHAT YOUR NUMBERS COULD LOOK LIKE
Estimate Your Debt Management Plan Payment & APR
You do not have to guess what a Debt Management Program might look like. Instead, use DebtWave's calculator to compare your existing creditor terms with estimated DMP terms. First, select a creditor. Then, enter your balance, current APR and minimum payment to see the estimate.HOW TO GET STARTED
How to Get Started With Nonprofit Credit Counseling
Getting help does not need to be complicated. A nonprofit credit counseling session begins by looking at where you are today and what you want to accomplish.1
Tell Us About Your Situation
Share your financial goals, debts and the challenges that make it difficult to get ahead.2
Review Your Budget
A counselor reviews your income and expenses to understand what your household budget can support.3
Understand Your Options
Compare self-repayment, creditor hardship assistance and Debt Management Program options.4
Build Financial Knowledge
Use DebtWave's educational resources to strengthen budgeting, saving and credit-management skills.5
Choose Your Next Step
Ultimately, you decide which path makes sense. Credit counseling does not require DMP enrollment.WHY DEBTWAVE?
Why Choose Nonprofit Credit Counseling?
DebtWave Credit Counseling, Inc. is a 501(c)(3) nonprofit organization that has served consumers since 2001. Nonprofit credit counseling can help you understand your finances before choosing a repayment strategy. Instead of focusing on a single financial product, DebtWave combines counseling, financial education and debt repayment assistance. The Consumer Financial Protection Bureau also provides information about credit counseling, budgeting and Debt Management Plans.
NFCC Member Agency
DebtWave is a member of the National Foundation for Credit Counseling. You can verify DebtWave through the NFCC Member Agency Directory .IS COUNSELING RIGHT FOR YOU?
When Nonprofit Credit Counseling May Be Worth Considering
You do not have to wait until accounts become severely past due. In fact, reviewing your finances earlier may give you more time to evaluate your options.✓ Minimum payments consume too much of your monthly income
✓ High APRs make balances difficult to reduce
✓ You are managing several credit card payments
✓ Your balances continue increasing
✓ You are considering a consolidation loan
✓ You want a clearer household budget
✓ You need help comparing repayment strategies
✓ You want to understand whether a DMP could help
COMMON QUESTIONS
Nonprofit Credit Counseling and Debt Management FAQs
What does DebtWave do?
DebtWave provides nonprofit credit counseling, financial education and Debt Management Programs. Additionally, our counselors help consumers review budgets, understand credit card debt and compare repayment options.Is DebtWave a nonprofit organization?
Yes. DebtWave Credit Counseling, Inc. is a 501(c)(3) nonprofit organization that has provided credit counseling and financial education services since 2001.Is credit counseling free?
Yes. DebtWave offers an initial credit counseling session at no cost. Moreover, speaking with a counselor does not require you to enroll in a Debt Management Program.Do I need to be behind on my credit cards?
No. You can explore credit counseling while your accounts are current. Reviewing your options before missing payments may give you more time to decide which strategy fits your situation.Does DebtWave offer debt consolidation loans?
No. DebtWave does not lend money. A traditional Debt Management Program provides a structured repayment process for eligible debts rather than replacing those debts with a new loan.Can a Debt Management Program lower my credit card interest rates?
Participating creditors may provide reduced APRs or other concessions under their current program guidelines. However, available rates and terms depend on the creditor and individual account.Will I still repay my credit card balances on a DMP?
Yes. A traditional Debt Management Program generally focuses on repaying enrolled balances rather than settling them for less than the amount owed.How can I estimate my Debt Management Program payment?
Use DebtWave's Debt Management Plan Calculator to enter creditor information and see estimated program payments and APRs.Do I have to enroll after credit counseling?
No. Your counseling session can help you understand your finances and available options. Afterward, you decide which approach fits your situation.NOT SURE WHERE TO START?
Start With a Free Financial Review
You do not need to choose a financial program before contacting DebtWave. Start with nonprofit credit counseling, review your financial situation and compare your available options before deciding what to do next.Free consultation • No new loan • No obligation to enroll
Debt Management Program eligibility, creditor participation, interest rates, payments and concessions vary by creditor and individual account. Past results do not guarantee future results. DebtWave does not lend money.