American Financial Solutions
American Financial Solutions is a 501(c)(3) nonprofit credit counseling agency founded in 1999 that delivers Debt Management Plans, housing and bankruptcy counseling, student loan counseling, and financial education to consumers across all 50 states and DC. It operates as a division of the North Seattle Community College Foundation.
- Company typePrivate
- Founded1999
- HeadquartersSeattle, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What American Financial Solutions does
American Financial Solutions (AFS) is a 501(c)(3) nonprofit credit counseling agency founded in 1999 and headquartered in Seattle, Washington, operating as a division of the North Seattle Community College Foundation. The organization provides consumer-facing financial counseling and structured debt repayment services across all 50 states and the District of Columbia, with physical counseling centers in Seattle and Bremerton and a DBA presence ('AFS Credit Counseling') in Arizona, Illinois, Nebraska, and New Hampshire. Its core product is the Debt Management Plan (DMP), which consolidates unsecured debts (credit cards, medical bills, personal loans) into a single monthly payment, with creditors agreeing to lower interest rates and waived fees; the organization reports $10 billion in client debt repaid and 500,000+ clients served since inception. Supporting services include HUD-approved housing counseling (homeownership, foreclosure prevention, HECM reverse mortgage), EOUST-approved pre-bankruptcy counseling and post-bankruptcy education, student loan counseling, the Save2Build credit-building loan program (in partnership with Justine Petersen CDFI), and a catalog of free online financial education courses. Technology stack consists of a secure client portal (myafsaccount.com), interactive financial calculators, online intake forms, video content, and live chat — purpose-built for credit-counseling workflows rather than AI-driven personalization.
The business model is hybrid: DMP setup and monthly maintenance fees (state-regulated, with waivers available at or below 150% of Federal Poverty Guidelines) provide the primary recurring revenue; unit-priced counseling services ($30 for online pre-bankruptcy counseling, $50 for phone/in-person, $30 for post-bankruptcy education, $200 for HECM counseling) generate transactional revenue; voluntary creditor 'fair share' payments contribute an affiliate-like stream; and federal and state grants (HUD, Washington State Housing Finance Commission) fund foreclosure prevention and housing counseling delivered at no cost to clients. Free initial counseling and education are positioned as a freemium funnel into paid DMP enrollment. The go-to-market combines direct-to-consumer channels (phone, website, online application, live chat) with B2B2C partnerships — employer EAP programs, banks and credit unions (including white-label counseling), and community organizations (Black Home Initiative, Fannie Mae, NeighborWorks America, Prosperity Now). Customer segments are horizontally distributed: individuals and families with unsecured debt, homebuyers and homeowners, homeowners 62+ (HECM), pre/post-bankruptcy filers, student loan borrowers, credit-invisible consumers, employer partners, and financial institution partners. The organization is governed by a Board of Trustees chaired by Jerome B. Gronfein, with President Cindy R. Seremek, CPA, leading operations.
American Financial Solutions firmographics
Firmographics- Name
- American Financial Solutions
- Legal name
- North Seattle Community College Foundation dba American Financial Solutions
- Website
- https://myfinancialgoals.org
- Company type
- Private
- Founded year
- 1999
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- American Financial Solutions is a 501(c)(3) nonprofit credit counseling agency founded in 1999 that delivers Debt Management Plans, housing and bankruptcy counseling, student loan counseling, and financial education to consumers across all 50 states and DC. It operates as a division of the North Seattle Community College Foundation.
- Ownership category
- akta.pro rank
American Financial Solutions industry classification
Industry- Product category
- Credit Counseling Services
- NAICS
- Activities Related to Credit Intermediation (5223), Educational Support Services (611710)
- SIC
- Services-Consumer Credit Reporting, Collection Agencies (7320)
- akta.pro primary industry
- Credit Counseling & Debt Management Plans (DMP) (FSAKAJAH)
- akta.pro secondary industries
- Debt Management Plans (DMP) Administration (FSAEAFAB), Collections & Creditor Negotiation Support (Debtor-Side) (FSAEAFAI), Reverse Mortgage Counseling & Consumer Education (HUD-Approved) (FSALAIAG)
Keywords
Where American Financial Solutions is headquartered
LocationHeadquarters
- HQ city
- Seattle
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
American Financial Solutions business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Debt Management Plan Fees: Fees paid by clients enrolled in debt management plans. These include a one-time setup fee and monthly maintenance fee, which are regulated by state guidelines and nonprofit agency standards.
- Counseling and Program Fees: Fees from clients to cover costs of other programs and services including bankruptcy counseling ($30-$50), post-bankruptcy education ($30), and HECM counseling ($200).
- Creditor Payments: Voluntary payments from creditors that have clients enrolled in debt management plans.
- Federal and State Grants: Grant funding from government sources including HUD and Washington State Housing Finance Commission for housing counseling and foreclosure prevention services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free Initial Counseling |
| Transaction based/ take rate | Monthly | Debt Management Plan Enrollment |
| Unit Pricing | Pay-as-you-go | Pre-Bankruptcy Counseling |
| Unit Pricing | Pay-as-you-go | Post-Bankruptcy Education |
| Unit Pricing | Pay-as-you-go | HECM Reverse Mortgage Counseling |
| Freemium | Pay-as-you-go | Foreclosure Prevention Counseling |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels9 records
American Financial Solutions product offering
Product offeringCore offering
American Financial Solutions is a nonprofit credit counseling agency that provides Debt Management Plans (DMPs) consolidating unsecured debts into one monthly payment with negotiated lower interest rates and waived fees. It offers certified credit counseling, pre/post-bankruptcy counseling and education, HUD-approved housing counseling (homebuyer, foreclosure prevention, HECM reverse mortgage), student loan counseling, Save2Build credit building loans, and free online financial education classes. Services are delivered via phone, online portal, and in-person across all 50 states and DC.
Product overview
American Financial Solutions (AFS) is a nonprofit credit counseling agency offering a comprehensive suite of financial services organized around its core Debt Management Plan (DMP) combined with credit counseling, housing counseling, bankruptcy counseling, student loan counseling, and financial education. The primary product is the Debt Management Plan, which consolidates unsecured debts into one monthly payment with negotiated lower interest rates and waived fees, typically completing in 3-5 years. Supporting services include Pre-Bankruptcy and Post-Bankruptcy Education (approved by EOUST), Housing Counseling (HUD-approved covering home ownership, foreclosure prevention, and reverse mortgages), Student Loan Counseling, and the Save2Build credit building program. Education offerings include ten free online 'Investing in Yourself' courses and a Financial Resource Center with interactive calculators. The organization also provides Trauma-Informed Financial Counseling and Financial Equity initiatives for underserved communities. All services are accessible through a 24/7 client portal, with counseling available by phone and in-person.
Differentiator
Problem solved
Functional benefit
Products and services
- Debt Management Plan (DMP) A structured repayment program that consolidates multiple unsecured debt payments (credit cards, medical bills, personal loans) into one monthly payment, with AFS negotiating lower interest rates and waived late/over-limit fees with creditors. Plans typically complete in 3-5 years. A regulated one-time setup fee and monthly maintenance fee apply.
- Credit Counseling Services Confidential one-on-one sessions with NFCC-certified credit counselors who review clients' financial situations, pull and analyze credit reports, and recommend debt relief options tailored to individual needs. Initial counseling and education services are free; fees apply only for DMP enrollment or required certificate services.
- Pre-Bankruptcy Counseling Required counseling before filing for bankruptcy, providing financial analysis, budget review, and exploration of alternatives to bankruptcy. Approved by the Executive Office of United States Trustees (EOUST) to issue certificates. Fees: $30 online, $50 phone/in-person; may be waived for households at or below 150% of Federal Poverty Guidelines.
- Post-Bankruptcy Education Personal financial management instructional course required after bankruptcy filing, administered through the 'Money in Motion' online program. Certificate issued upon completion for compliance with Bankruptcy Code. Fee: $30 per person or married couple filing jointly; may be waived based on inability to pay.
- Foreclosure Prevention Counseling HUD-approved housing counseling to help homeowners facing mortgage challenges understand the foreclosure process, evaluate financial situations, develop budgets, and negotiate with lenders for mortgage modifications. Provided at no cost through HUD and Washington State Housing Finance Commission grants.
- Home Ownership Counseling HUD-approved pre-purchase housing counseling including down payment assistance programs, USDA 502 Direct Home Loan Packaging Services, and Loan Document Review. Helps buyers prepare for mortgages, qualify for loans, and understand the home-buying process.
- Reverse Mortgage Housing Counseling (HECM) HUD-required counseling for Home Equity Conversion Mortgages covering eligibility, costs, risks, benefits, payment options, tax implications, and borrower responsibilities. Certificate provided to lenders upon completion. Fee: $200 per session (phone or video format options available).
- Estate Planning & Heirs' Property Course Self-paced online course delivered in partnership with eHome America covering estate planning basics, wills, powers of attorney, and heirs' property issues.
- Student Loan Counseling One-on-one counseling to help borrowers explore federal and private student loan repayment options, forgiveness programs (such as Public Service Loan Forgiveness), income-driven repayment plans, consolidation, and strategies to manage defaulted loans. Counselors work directly with loan servicers on behalf of clients.
- Investing in Yourself (Financial Education Classes) Ten free online personal finance courses covering budgeting, credit reports, debt repayment, investing, identity theft, and financial planning for various life stages. Each class takes approximately 30 minutes to complete.
- Save2Build Credit Building Loan Credit building program in partnership with Justine Petersen CDFI that provides a safe, low-cost option to establish or rebuild credit. Loan funds are secured in a locked savings account while monthly payments are reported to credit bureaus, combining credit building, goal setting, and financial counseling.
- Trauma-Informed Financial Counseling Specialized counseling approach providing compassionate, non-judgmental support for clients who have experienced financial trauma, helping rebuild financial confidence. Counselors receive trauma-informed training in addition to NFCC and AFCPE certifications.
Quantifiable outcome
- $10 billion in debt paid off by clients since 1999
- +5 more outcomes
Companies that use American Financial Solutions
Customer profileNamed customers6 records
Segments8 records
Ideal customer profiles6 records
American Financial Solutions technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
American Financial Solutions partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and minor.
- Justine PetersencorePartnership with Justine Petersen, a not-for-profit corporation and Community Development Financial Institution (CDFI), to provide the Save2Build credit building program. Justine Petersen's organization funds loans for the program which combines goal setting, credit building, and financial counseling.
- North Seattle Community College FoundationcoreAFS is a division of the North Seattle Community College Foundation, a nonprofit organization. Proceeds are redirected to student scholarships, faculty grants, and academic programs for North Seattle College.
- National Foundation for Credit Counseling (NFCC)coreAFS is a member of NFCC, the nation's first and largest nonprofit organization dedicated to financial well-being. Counselors are NFCC-certified and organization is held to 18 NFCC member quality standards.
- Council on Accreditation (COA)coreAFS is accredited by COA, an independent third-party organization that reviews and monitors entities providing social services to ensure quality standards.
- U.S. Department of Housing and Urban Development (HUD)coreHUD-approved housing counseling agency providing pre-purchase, foreclosure prevention, and reverse mortgage counseling. Receives grant funding for housing counseling services.
- Washington State Housing Finance CommissioncoreAFS is a sub-grantee of the Washington State Housing Finance Commission working in partnership to assist clients with housing needs. Provides grant funding for foreclosure intervention services.
- Black Home InitiativeminorAFS is a proud partner of the Black Home Initiative, an organization focused on advancing homeownership in Black communities.
- Better Business BureaucoreAFS is a long-term member of Better Business Bureaus of Washington, Oregon, and Alaska with an A+ rating.
- Fannie MaeminorNational affiliation with Fannie Mae for housing-related counseling services.
- NeighborWorks AmericaminorNational affiliation for community development and housing counseling services.
- Prosperity NowminorNational affiliation with Prosperity Now for financial capability and asset-building initiatives.
- Rural Community Assistance Corporation (RCAC)minorPartnership for rural community development and housing assistance programs.
- U.S. Department of Agriculture (USDA)minorAFS provides USDA 502 Direct Loan Packaging services to help qualified buyers in rural areas achieve homeownership.
Scale indicators7 records
Recent moves8 records
Expansion highlights6 records
American Financial Solutions competitors and assessment
Company assessmentEmerging players
- Nav: Nav is a fintech platform providing small business and personal credit education, financial coaching, and credit-building tools — an emerging digital peer intersecting with AFS's financial education and credit-building offerings through a more tech-enabled delivery model.
Direct peers
- Springboard Nonprofit Consumer Credit Management: Springboard is a nonprofit credit counseling agency offering DMPs, housing counseling, and financial education with particular strength in California — comparable to AFS in service offering, nonprofit structure, and HUD-approval credentials.
- Clearpoint Credit Counseling Solutions: Clearpoint is a nonprofit HUD-approved credit counseling agency providing DMPs, housing counseling, and financial education services — directly competing with AFS on the same product suite, including student loan and bankruptcy counseling.
- InCharge Debt Solutions: InCharge is a nonprofit NFCC-member credit counseling agency offering debt management, housing counseling, bankruptcy education, and student loan counseling — a direct peer to AFS across the same core nonprofit counseling services and customer segments.
- Money Fit: Money Fit is a nonprofit HUD-approved credit counseling agency focused on debt management, housing counseling, and student loan counseling in the Pacific Northwest — directly comparable to AFS in services and partially overlapping geography.
- GreenPath Financial Wellness: GreenPath is a HUD-approved nonprofit credit counseling agency providing DMPs, housing counseling, and financial wellness programs nationwide — directly competing with AFS on the same suite of services and through similar employer EAP and financial institution partnership channels.
- Take Charge America: Take Charge America is a nonprofit HUD-approved credit counseling agency providing DMPs, housing counseling, and student loan counseling — directly comparable to AFS in mission, services, and target customers.
- Money Management International: Money Management International is one of the largest nonprofit credit counseling agencies in the U.S., offering debt management plans, housing counseling, bankruptcy counseling, and student loan counseling — a direct overlap with AFS's core services and target customer base of distressed consumers.
- Consolidated Credit Counseling: Consolidated Credit is a nonprofit NFCC-affiliated credit counseling agency offering DMPs, financial education, housing counseling, and bankruptcy counseling through phone-based and online channels — directly comparable to AFS in services, delivery model, and consumer audience.
Others
- National Foundation for Credit Counseling (NFCC): NFCC is the industry trade association of which AFS is a member. While not a direct competitor, NFCC sets the 18 quality standards governing all member agencies including AFS and serves as an industry-level ecosystem participant in nonprofit credit counseling.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
American Financial Solutions social profiles
Digital presenceAmerican Financial Solutions compliance and trust
Trust signalCompliance11 records
American Financial Solutions financial estimates
Financial estimateRevenue estimate
Valuation estimate
American Financial Solutions leadership team
Management profileNumber of profiles
Profiles23 records
American Financial Solutions funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
American Financial Solutions M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about American Financial Solutions
What does American Financial Solutions do?
American Financial Solutions is a nonprofit credit counseling agency that provides Debt Management Plans (DMPs) consolidating unsecured debts into one monthly payment with negotiated lower interest rates and waived fees. It offers certified credit counseling, pre/post-bankruptcy counseling and education, HUD-approved housing counseling (homebuyer, foreclosure prevention, HECM reverse mortgage), student loan counseling, Save2Build credit building loans, and free online financial education classes. Services are delivered via phone, online portal, and in-person across all 50 states and DC.
Is American Financial Solutions a public or private company?
American Financial Solutions is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was American Financial Solutions founded?
American Financial Solutions was founded in 1999. It employs 11 to 50 people.
Where is American Financial Solutions based?
American Financial Solutions is headquartered in Seattle, United States, in the North America region.
How does American Financial Solutions make money?
Four revenue lines are on record. Debt Management Plan Fees are the primary driver. The others are counseling and Program Fees, creditor Payments and federal and State Grants.
Who are American Financial Solutions's main competitors?
Nav is listed as an emerging player. Direct peers are Springboard Nonprofit Consumer Credit Management, Clearpoint Credit Counseling Solutions, InCharge Debt Solutions, Money Fit, GreenPath Financial Wellness, Take Charge America, Money Management International and Consolidated Credit Counseling. National Foundation for Credit Counseling (NFCC) is listed as an others.
Does American Financial Solutions have an API?
No public API is recorded for American Financial Solutions.
What industry is American Financial Solutions in?
American Financial Solutions's product category is Credit Counseling Services. Its primary akta.pro industry code is FSAKAJAH, Credit Counseling & Debt Management Plans (DMP), with a secondary code of FSAEAFAB, Debt Management Plans (DMP) Administration. Its NAICS code is 5223 and its SIC code is 7320.