Which service helps you set up a repayment plan for low or no fees?

• A. Budget Counseling Center
• B. Debt Consolidation Firm
• C. Consumer Credit Counseling Service
• D. Credit Repair Organizations

Answer: (C)

A repayment plan with low or no fees is typically offered through nonprofit credit counseling services. Consumer Credit Counseling Service provides budgeting guidance and, when appropriate, a Debt Management Plan. In a DMP, you make one affordable monthly payment to the counseling agency, which then distributes funds to your creditors. The counselors often negotiate lower interest rates and waive certain fees, making the plan more affordable. Because these agencies are nonprofit, they usually charge minimal or no up-front fees, which keeps costs down compared to for-profit firms. The other options focus on different goals: budgeting help alone, loan consolidation with potential fees, or credit repair rather than arranging a formal, low-cost repayment plan with creditors.