How do nonprofit debt management programs work?

The true “not for profit” programs are funded by the creditors ( Visa, Mastercard etc. )

They will tell you that if you ask, there is “training” and mandatory meetings.

The reduced interest rate is something you can ask for.

There maybe a small fee. Look up MMI.

I do not work for any of the debt management agencies.

Make sure that it is a true non-profit.

They work with creditors all the time and thus reduce interest rates by their relationship with creditors. They can usually get more in the way of a reduction than an individual can.

Using on of these programs can affect your credit rating.

Usually they charge a fee (say 3 %) to manage your payments and make them.