DebtWave Credit Counseling

What DebtWave Credit Counseling does

DebtWave Credit Counseling, Inc. is a 501(c)(3) nonprofit credit counseling agency founded in 2001 and headquartered in Escondido, California (San Diego County), serving consumers across the United States except New York, Kansas, and Maryland. The company helps individuals eliminate credit card debt through a free credit counseling entry point that funnels into a Debt Management Program (DMP), in which certified counselors negotiate interest rate reductions and consolidated monthly payments with creditors on the client's behalf. Supporting services include Pre-Bankruptcy Counseling, Credit Coaching, a Financial Wellness Program, and an Accelerated Payment Plan; the company also operates a specialized Boost for Our Heroes program for military personnel and veterans.

The technology layer is modest and human-centric: an online DMP enrollment portal, a suite of free financial calculators (DMP payment estimator, credit card payoff, debt-to-income, net worth, minimum payments), a soft-inquiry credit pull capability, and a proprietary Financial Analysis Report generated during counseling sessions. Distribution is direct-to-consumer via phone (1-888-686-4040), online self-service enrollment, scheduled in-person appointments, and community-based Financial Opportunity Clinics run through the San Diego Financial Literacy Center (SDFLC). Content channels include the Talk Wealth To Me podcast (75+ episodes), an educational blog, and partnerships with the Foundation for Financial Planning, Live Well San Diego, and State Farm.

DebtWave's business model is subscription-based: free initial credit counseling sessions serve as a freemium funnel into a recurring DMP, with an initial setup fee up to $99 and a monthly service fee up to $59 (state-regulated). Reported client outcomes include an average interest rate drop from 23.24% to 6.36%, an average $238 monthly payment reduction, an 85% creditor proposal acceptance rate, an average 68-point FICO improvement (628 to 696), and cumulative $300M+ in credit card debt repaid through the program. The company is BBB accredited and a member of the National Foundation for Credit Counseling (NFCC), and is governed by a small executive team led by Executive Director Mike Marsden and Director of Counseling Services Carlos Perez.

Name

DebtWave Credit Counseling

Legal name

DebtWave Credit Counseling, Inc.

Website

https://debtwave.org

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

DebtWave Credit Counseling is a 501(c)(3) nonprofit founded in 2001 that helps U.S. consumers eliminate credit card debt via free credit counseling and a subscription Debt Management Program that negotiates lower interest rates and consolidated payments with creditors.

Ownership category

akta.pro rank

Product category

Credit Counseling Services

NAICS

Activities Related to Credit Intermediation (5223), Credit Intermediation and Related Activities (522)

SIC

Services-Consumer Credit Reporting, Collection Agencies (7320), Personal Credit Institutions (6141)

akta.pro primary industry

Credit Counseling & Debt Management Plans (DMP) (FSAKAJAH)

akta.pro secondary industries

Consumer Credit Counseling & Budgeting (FSAEAFAA), Debt Management Plans (DMP) & Consolidation Programs (FSAKAIAJ), Collections & Creditor Negotiation Support (Debtor-Side) (FSAEAFAI), Credit Education, Monitoring & Consumer Credit Management Tools (FSAKAKAJ)

Keywords

• Credit counseling services
• Debt management programs
• Financial literacy education
• Credit card debt relief
• Nonprofit financial counseling

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Debt Management Program Fees: DebtWave generates revenue through fees charged for their Debt Management Program. As a nonprofit 501(c)(3) organization, fees are regulated by states. The program includes an initial setup fee and monthly service fees. DebtWave disburses payments to creditors on behalf of clients.
2. Free Credit Counseling Sessions: Free initial credit counseling sessions that provide budget analysis and financial education. These sessions serve as the entry point for identifying clients who may benefit from the fee-based DMP.
3. Credit Coaching: Personalized credit score coaching sessions offered to active DMP clients, providing tips to improve credit scores during and after the debt payoff journey.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

DebtWave Credit Counseling is a nonprofit 501(c)(3) credit counseling agency that delivers free one-on-one credit counseling sessions and a fee-based Debt Management Program (DMP) in which the agency negotiates lower interest rates and consolidated monthly payments with creditors. The DMP is designed to help consumers pay back 100% of their unsecured debt and become debt-free in three to five years. Supporting offerings include credit coaching, pre-bankruptcy counseling, a financial wellness program, an accelerated payment plan, and a military-focused program, all backed by certified credit counselors.

Product overview

DebtWave Credit Counseling offers a nonprofit credit counseling and debt management platform focused on helping consumers eliminate credit card debt. The core offering consists of free Credit Counseling Sessions that provide budget analysis and debt solutions, leading into the primary Debt Management Program (DMP) which negotiates lower interest rates and payments to achieve debt freedom in 3-5 years. Supporting services include Credit Coaching, Pre-Bankruptcy Counseling, Financial Wellness Program, and Accelerated Payment Plan. Educational offerings include the Smart With Your Money (S.W.Y.M.) Program, San Diego Financial Literacy Center (SDFLC), and Talk Wealth To Me Podcast. The company also provides a suite of free Financial Calculators for credit card payoff planning. Military-focused assistance is available through the Boost for Our Heroes program.

Differentiator

Problem solved

Functional benefit

Products and services

• Credit Counseling Sessions Free one-on-one sessions with certified credit counselors providing a complete budget analysis and personalized Financial Analysis Report outlining debt payoff options, including DMP, debt settlement, and bankruptcy comparisons. Available to individual consumers seeking credit card debt relief.
• Debt Management Program (DMP) Subscription program in which DebtWave negotiates reduced interest rates and a single consolidated monthly payment with creditors, enabling clients to pay back 100% of principal and become debt-free in three to five years. Includes an initial setup fee up to $99 plus a monthly service fee up to $59 (varies by state). Targets individual consumers with high-interest unsecured debt.
• Pre-Bankruptcy Counseling Mandatory pre-bankruptcy credit counseling service required before individuals can file for bankruptcy, provided in accordance with U.S. bankruptcy code requirements. Targets consumers pursuing or considering bankruptcy.
• Financial Wellness Program Program designed to help clients adopt healthy financial behaviors, build budgeting skills, and sustain financial freedom beyond debt payoff. Available to individual consumers.
• Accelerated Payment Plan Payment plan option that allows enrolled DMP clients to pay off debt faster than the standard schedule by directing additional funds toward principal reduction. Targeted at DMP clients seeking faster payoff.
• Credit Coaching Personalized coaching sessions with a Credit Score Coach providing tips to improve credit scores during and after the DMP payoff journey. Provided free to active DMP clients.
• Boost for Our Heroes Specialized financial assistance program tailored for military personnel and veterans, addressing service-specific debt, budgeting, and credit challenges. Targets active-duty service members, veterans, and their families.

Quantifiable outcome

• Average interest rate reduction from 23.24% to 6.36% through DMP enrollment
• +4 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• San Diego Financial Literacy Center (SDFLC)coreStrategic or Co-development PartnerDebtWave co-founded and operates the San Diego Financial Literacy Center, a collaborative initiative providing financial education and counseling services to the San Diego community. SDFLC hosts the Talk Wealth To Me podcast and S.W.Y.M. financial education program.
• Foundation for Financial PlanningcoreStrategic or Co-development PartnerNonprofit foundation supporting pro bono financial planning. Partners with SDFLC to offer quarterly Financial Opportunity Clinics providing free one-on-one financial counseling to at-risk and low-income populations in San Diego County.
• Live Well San DiegominorStrategic or Co-development PartnerCounty initiative promoting health and wellness in San Diego. Collaboration focuses on financial wellness as a component of overall well-being, supporting Financial Opportunity Clinics.
• State Farm InsuranceminorGTM or Marketing PartnerCorporate sponsor providing additional support for SDFLC Financial Opportunity Clinics, helping extend reach of free financial counseling services to San Diego County residents.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• GreenPath Financial Wellness: National nonprofit NFCC member offering credit counseling, DMPs, and financial education across all 50 states. Most direct competitor given overlapping service model, nonprofit status, and DMP focus.
• Clearpoint Credit Counseling Solutions: Nonprofit credit counseling agency offering DMPs, bankruptcy counseling, and student loan counseling. Comparable in scale, geographic reach, and service mix to DebtWave.
• Money Management International (MMI): One of the largest U.S. nonprofit credit counseling agencies, providing DMPs, housing counseling, and student loan counseling. Operates with a similar multi-channel phone/web delivery model and nonprofit fee structure.
• InCharge Debt Solutions: Nonprofit 501(c)(3) credit counseling agency providing DMP, debt consolidation, housing counseling, and financial education. Directly comparable in mission, regulatory profile, and target customer.

Others

• National Foundation for Credit Counseling (NFCC): Industry trade association (and DebtWave's membership body) that certifies and accredits member agencies. Not a direct competitor but defines the regulatory and ethical standards DebtWave operates under.

Emerging players

• National Debt Relief: For-profit debt settlement company that negotiates partial payoffs. Competes for the same distressed-borrower inbound as DebtWave but with a different (more credit-damaging) value proposition.
• Credit Karma: Free credit-monitoring and financial product marketplace. Captures financially-engaged consumers early in their journey and surfaces debt consolidation and credit card offers, competing for the same SEO/calculation-driven demand.
• SoFi: Online lender offering personal loans used for credit card debt consolidation. Targets a similar financially-stressed consumer but with a fixed-loan product rather than DMP, competing for the same top-of-funnel.
• Freedom Financial Network: For-profit provider of debt resolution, consolidation loans, and financial coaching. Overlaps with DebtWave's credit counseling and consolidation services but is structured as a private, PE-backed company with very different incentives.

Regional players

• MoneyFit (formerly Consumer Credit Counseling Service of Portland / CCCS): Nonprofit HUD-approved counseling agency serving the Pacific Northwest with DMPs, housing, and student loan counseling. Comparable in nonprofit structure and service mix but primarily regional rather than national.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@DebtWaveCreditCounseling
• Xx.com/debtwave

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about DebtWave Credit Counseling