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Money management International reviews

Money Management International

Money Management International is a well established company in the industry and offers a great number of educational resources including credit counseling.

Our Score
5.1
User Score
10.0

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Our Score
5.1
User Score
10.0
Rank this Company

Ratings Breakdown

Price

monthly fee
Undisclosed

Up-Front Fees

setup & activation fees
Up to $50

Free Consultation

is one included?
Yes

Time in Business

total # of years
59 years

Credit Counseling

do they offer credit counseling services?
Yes

Certified Credit Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
No

Number of Reviews

User reviews here on BDC
1

This Review is maintained by Chase Sagum

Review Last Updated: January 3, 2017

Money Management International is the largest, full-service credit counseling agency in the United States and has been helping consumers dig their way to financial freedom since 1958.  Since then the company has been on a mission to provide high quality counseling services and promote financial education to help clients stay on the right financial track. 

Rank Chart
Monthly Price
Accreditations
Review

#1

Up to $69
FCAA & ISO

#2

$10-$40
AFCC & IAPDA

#3

$10 - $49
ISO

#11
Money management International reviews

Undisclosed
NFCC

The Good

  • NFCC and FCAA certified
  • 59 years in business
  • Broad-spectrum of educational resources and tools

Great Customer Service

Money Management International is large company able to offer a variety of services. Their education and counseling services are extensive. Money Management International offers 24 hour access to a financial counselor, which is somewhat unique for the industry. In some ways, this availability makes them more approachable than many of their competitors. In addition, they offer in-person appointments at any of their satellite offices for those who prefer in-person contact.

During a consultation, a representative will determine if credit counseling is the best choice for consumers. Those under economic hardship will be directed to one of their certified finance counselors who will provide professional guidance and any counseling session they may need. During a counseling session a personal credit counselor will assess the current financial situation and help develop a realistic budget enabling consumers to achieve their financial goals.

Financial Tools

The debt calculators and other tools on the site are easy to use and informative. The educational materials are exceptional with lesson plans designed to teach personal fiscal responsibility. These could be used by educators as well as in personal or family study to improve one’s financial IQ. There are also several articles on the website designed to help families live more frugally during their debt payment plan and beyond.

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The Bad

  • Lacking transparency
  • Potentially no refund policy
  • No average interest rates

Lacking Transparency

It is the norm for consumer credit counseling or debt settlement companies to avoid posting their fees and financial policies. While Money Management does publish it’s upfront fees of up to $50, they do not disclose their monthly fees. It would be great if Money Management International could provide this information initially. Although states have different regulations as far as pricing, a range would be helpful to show consumers what to expect when enrolling in a program. We would like to see the company do more to outline the risks involved with enrolling in a debt management program such as interest rate spikes and tacked on late fees should clients wish to opt-out of the program after enrollment.

Lacking Accreditation

We like to see companies maintain accreditations. Accreditations show that the company upholds a level of quality in their services. Money Management International is lacking FCAA and ISO accreditations. While this isn’t a deal breaker, it could be a tie breaker.

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The Bottom Line

Money Management International is a full-service credit counseling provider. The site is educational and can assist you in getting ideas, help, and information about personal finances, loans, credit, and other similar matters. However, the company is lacking transparency which makes them difficult to recommend. They may not operate in all states, they do not disclose monthly fees, and they may not have a refund policy. These are very important pieces of information that Money Management International has withheld. Overall, we do not recommend working with them at this time.

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About Money Management International

Money Management International is one of the largest credit counseling agencies and offers debt consolidation – not a loan. They help customers by providing a certified credit counselor who creates a debt management plan and consolidates all of their debt into one affordable monthly payment with reduced interest rates. Along with providing debt consolidation, Money Management International offers services for budget and debt counseling, foreclosure prevention, bankruptcy counseling, financial workshops, and pre-purchase housing counseling. Money Management International also offers financial resources like free podcasts, videos, lesson plans, and webinars.

Price

Prices are undisclosed at this time.

Up-Front Fees

Up to $50 for up-front fees.

Free Consultation

Yes.  Credit counselors are available 24 hours per day, 7 days per week.

Time In Business

59 years. They opened their doors in 1958.

Debt Education

Money Management International has invested a lot of time and effort to provide good information and helpful calculators and tools available on their website.  This information alone could take days to fully explore and to digest.

The tools are helpful for consumers to understand a variety of different topics, including:  whether to sell or keep their car, what to expect for mortgages vs. rent and more.  While many of these calculators are available on other sites, this one has them all in one place and at the click of a mouse.

The educational article and tools on this website are very good and may be worth bookmarking.

Money Back Guarantee / Cancellation Policy

Money Management International does not charge a cancellation fee and there is no contract.  The fees (if any) are paid monthly for services rendered.

Unsecured vs. Secured Loans

They work with unsecured debts.

Mobile Friendly

Yes, their site is mobile friendly.

Contact Information

E-Mail:

No specific email address was found on the website, however, contact forms are present to send secure emails representatives.

Address:

14141 Southwest Freeway, Suite 1000
Sugar Land, TX 77478-3494

Business Hours:

Credit Counselors are available 24 hours per day and 7 days per week.

Types of Services Available

Money Management International offers a variety of services, such as a Debt Management Plan (DMP) which allows consumers to lower their interest rates, lower payments and shorten the time that it will take to pay off their debt.  They also offer counseling for student loans, home and car purchases and bankruptcy counseling services.  Money Management International is a repository of information to help improve your financial IQ and knowledge.

Minimum Debt Accepted

None.

Online Dashboard

Money Management International (MMI) has an online dashboard available for those customers entered into a debt management plan. The dashboard includes all their balance and statement information and is available 24/7.

CPFC Certified

No they are not CPFC certified.

ISO Certified

Money Management International is not ISO certified.

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  1. User Score
    10
    December 21st, 2016
    7 people found this review helpful!
    I am very good with my money yet being a 100% Disabled Vet not able to work, I had a roof that needed to be repaired extensively and a car engine blew-up all in less than a year and my well managed money went down the drain. I had a 775 out 800 credit score yet I could not get a $70,000 loan since I live in a “MOBILE STRUCTURE”,…, a mobile home. HAd I been abler to secure a loan the payment would have been super low and I would have been able to make 4,5 times the amount a month yet I could not secure it at 4 different banks. SO I tried this in the Columbia, SC affice and I have a few observations. ONE< you need to be able to accept you are failing and will have to do all you are told to make this work. The only snag I had was that one of my creditors did not accept the offer,…, I was worried and I called the customer service line and then the company agent I dealt with and both were very helpful at telling me how this all was going to work. SO, I can say the folks have been there ALWAYS so far and I have no beefs with them. Also you need to be really disciplined. Many end-up with debt consolidation because they over spent, had no knowledge of how to work their money, etc and if you do not enjoy being told WHAT YOU HAVE TO DO,…, well you will be giving this company a low grade. I can do what needs to be done and when all the debt was put into the computer and we pushed the BUTTON, it freed up almost $2000.00 a month for me. Money I was putting our every month to stay a float,…, barely! And lastly,….., I signed no CONTRACT, it was an AGREEMENT and I could decline their help at any time,…, but after 3 months and all but one creditor accepted payment plan but one,…, I can see the light at the end of the tunnel and I know it is not a train! You tell them EVERYTHING, bring in EVERYTHING, and then they work , with me over 2 hours to make this work for me, and they can help you a lot more than the banks,.., at least for me they did.
    Read More

Poll

  • When looking for a debt settlement company, which of these two aspects is most important to you?
  • Takes your existing debt and try to settle with your creditors for a lower amount. If you pay off the settled amount, your debt will be considered paid in full.
  • Negotiates with your creditors on your behalf.
  • Fee based on a percentage of your total starting debt or a percentage of the debt they save you.
  • Most settlement companies have you create a separate "escrow" account where you will make monthly contributions over a certain amount of time to contribute to your settlement. Once there is a substantial amount of funds to show your creditors, the settlement company will try to negotiate a lower amount of debt.
  • Combines all your debts and creditors into one monthly payment.
  • Allows you to pay one monthly payment to the consolidation company, instead of multiple payments to different creditors.
  • You no longer owe your original creditors; instead you pay one monthly payment to your consolidation company.
  • Consolidation companies can help negotiate lower interest rates on your debts and help lower your total debt payment in the long run. A lower interest rate will lower the amount you owe in the end.
  • Allows you to consolidate all your different debts into one personal loan that can be paid off over time.
  • Can offer borrowers a lower interest rate with a longer payback term (compared to high-interest credit cards or medical bills). This will lower the amount of money required to pay off the loan over time.
  • Personal loan debt consolidation can be an effective way to raise your credit score quickly (within 3-6 months).
  • Borrowers can receive funds from their loan within only a few days.

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Our Score
5.1
User Score
10.0
Rank this Company

Ratings Breakdown

Price

monthly fee
Undisclosed

Up-Front Fees

setup & activation fees
Up to $50

Free Consultation

is one included?
Yes

Time in Business

total # of years
59 years

Credit Counseling

do they offer credit counseling services?
Yes

Certified Credit Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
No

Number of Reviews

User reviews here on BDC
1
Our Score
9.4
User Score
9.6
Rank this Company

Ratings Breakdown

Price

monthly price range
Up to $69

Up-Front Fees

setup & activation fees
Up to $49

Free Consultation

is one included?
Yes

Time in Business

total # of years
24 years

Credit Counseling

do they offer credit counseling services?
Yes

Certified Credit Counselors

are there certified counselors on staff?
Yes

ISO Certified

is this business ISO certified?
Yes

Number of Reviews

User reviews here on BDC
557