If you’re facing debt in Colorado, you’re not alone. Whether you live in Denver, Colorado Springs, Aurora, Boulder, or anywhere in the mountains or plains, many Coloradans are struggling with credit card debt, student loans, and everyday financial stress. At APFSC, we offer effective, non-profit debt relief and credit counseling services to help you simplify your finances, lower your payments, and work toward a debt-free future.
The Growing Debt Problem
Understanding Debt in the Centennial State
Colorado’s economy is booming, but so is the cost of living. Rising housing prices, healthcare costs, and everyday expenses have pushed many families to rely on credit just to keep up. The average credit card debt per borrower in Colorado is over $6,000, and the average student loan debt has climbed to nearly $37,000. About 11.9% of Colorado residents carry student loan balances, many of whom are struggling to keep up with payments.
Even with strong job growth, debt can quickly spiral when wages don’t match expenses. Whether you’re falling behind or just trying to get ahead, APFSC can help you build a realistic plan for relief.
How APFSC Helps Colorado Residents Pay Off Debt
We begin with a free, no-obligation consultation with one of our certified credit counselors. After reviewing your income, monthly expenses, and outstanding debts, we’ll help you create a customized Debt Management Plan (DMP) that simplifies repayment and lowers your interest rates.
A DMP helps you:
- Combine unsecured debts into one manageable monthly payment
- Negotiate lower interest rates with creditors
- Eliminate late fees and reduce collection stress
- Pay off your total debt in 3 to 5 years
- Access ongoing budgeting tools and support
It’s not a loan—it’s a better way to pay back what you owe on terms that actually work for you.
Why Coloradans Fall Into Debt
- Skyrocketing housing prices, especially in metro areas
- High healthcare and insurance costs
- Credit card usage to manage basic living expenses
- Student loans with limited repayment flexibility
- Job changes or gaps in employment due to seasonal or contract work
Talk to a HUD-certified housing counselor to get help with the housing challenges you’re facing.
Know Your Rights in Colorado
A Debt Management Plan is a structured and supportive approach to paying off unsecured debt. It’s not a loan, and it doesn’t require you to stop paying or damage your credit long-term.
Here’s how it works:
- We contact your creditors and negotiate lower interest rates
- You make one fixed monthly payment to APFSC
- We send those payments to your creditors on your behalf
- Over time, your debt goes down and your credit can recover
This plan is ideal for those juggling multiple payments who want to repay what they owe—without bankruptcy or borrowing more.
Colorado Debt Statistics
- Average credit card debt: $6,023
- Average student loan debt: $36,939
- Residents with student loans: 11.9%
- Total student loan debt in Colorado: $29.5 billion
Average credit score in Colorado: 730
Why Choose APFSC?
As a non-profit organization, APFSC is focused on helping you—not profiting from your situation. We offer judgment-free support, transparent options, and actionable steps to help you get back on track.
When you contact us, you’ll speak with a certified counselor who understands the financial challenges unique to Colorado. You’ll receive a personalized action plan based on your income, debt, and long-term goals. There’s no obligation, and your first session is completely free.
Case Studies
Approved agency for all major creditors including
Geographic Locations
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Credit Counseling and Debt Management in Colorado | APFSC
Reviewed by an APFSC NACCC-Certified Credit Counselor · Last updated 2026-05-13
APFSC Colorado · 7700 East Arapahoe Road Suite 220 · Centennial, CO 80112 · 1-800-682-4007
Free consultation · Nonprofit · DOJ-approved · No obligation
American Pacific Financial Services Corp (APFSC) is a 501(c)(3) nonprofit credit counseling agency serving Coloradans. We are approved by the U.S. Department of Justice under 11 U.S.C. § 1115, BSI-certified to ISO 9001:2015 (cert #0047884258), a BBB Accredited Business, and our credit counselors are NACCC-certified.7
Talk to a counselor about your Colorado debt today
Call 1-800-682-4007 Monday–Friday, or book your free consultation online. The first session is free, there is no upsell, and a NACCC-certified counselor — not a salesperson — will review your income, expenses, and debts and tell you what actually works for your numbers under Colorado law.
Quick links
- Why Coloradans call APFSC
- What a Debt Management Plan does for Coloradans
- Cost and timeline of a DMP
- Colorado consumer-debt law you should know
- How to verify a credit counselor serving Colorado
- APFSC at a glance
- Frequently asked questions
Why Coloradans call APFSC
Colorado’s cost of living has run ahead of household income for most of the past decade. When a paycheck doesn’t stretch to cover rent, groceries, and a car payment, the gap typically closes with credit cards — and unsecured balances compound at APRs that now routinely exceed 22%. Average credit-card balance per borrower in Colorado: {VERIFY: avg credit-card balance per borrower from myFICO state data}.1
Coloradans who call APFSC are typically carrying $5,000–$40,000 in unsecured debt — credit cards, medical bills, personal loans, collections — spread across three to five accounts. At minimum payments and current APRs, that profile takes 20 to 27 years to retire and costs more in interest than the original principal.6 A Debt Management Plan compresses that to 3 to 5 years with a single monthly payment.
We are nonprofit. We do not sell loans, debt-settlement services, or credit-repair gimmicks. The counseling session is free whether or not you ever enrol in a plan.
Counseling reaches every county in Colorado — from Denver, Colorado Springs, Aurora, Fort Collins, and Lakewood to smaller communities in between.
What a Debt Management Plan does for Coloradans
A Debt Management Plan (DMP) is a structured 36–60-month repayment program administered by APFSC on your behalf. It is not a loan — you are not borrowing money. It is not debt settlement — you repay the full principal. It is a coordinated repayment of your existing unsecured debts at concessions APFSC has pre-negotiated with most major creditors.6
What a DMP changes for a Coloradan
- One consolidated monthly payment to APFSC, drawn by ACH on a date you choose
- Lowered interest rates on enrolled accounts (often into single digits) under each creditor’s published DMP-acceptance policy
- Waived late and over-limit fees on enrolled accounts
- Collection calls stop on enrolled accounts as soon as creditors accept the proposal
- A predictable payoff date, usually 36–60 months from enrolment
Creditors APFSC works with
National card issuers — Chase, Citi, Capital One, Discover, Bank of America, Wells Fargo, Synchrony, U.S. Bank, American Express — all maintain standing DMP-acceptance programs that apply uniformly to your Colorado accounts. Regional banks and credit unions operating in Colorado typically also participate. Your counselor will tell you, account by account, what concessions each creditor offers.
Where a DMP is the right tool
- Total unsecured debt between roughly $5,000 and $100,000
- Steady monthly income, even if tight
- You can commit to a single payment in the $200–$900/month range
- You are willing to close the enrolled credit accounts (a DMP requirement)
- You want to repay the debt, not erase it
Where a DMP is not the right tool
We will tell you. The free counseling session ends with a written action plan — sometimes that plan recommends a consolidation loan, a referral to a Colorado consumer attorney, or simply a tighter budget without enrolment. A nonprofit counselor’s job is to identify the cheapest path out, not to enrol you.2
For the side-by-side decision matrix, see DMP vs. Debt Consolidation Loan and Debt Relief Options Compared.
Cost and timeline of a DMP
What it costs
Reputable nonprofit DMP fees typically include a one-time set-up fee (commonly $0–$75) and a modest monthly administrative fee (commonly $25–$50), with totals capped well below what for-profit debt-settlement firms charge. Where Colorado regulators (notably the Colorado Division of Banking) impose additional caps or registration requirements on credit-counseling and debt-adjustment activity, APFSC operates within those limits. Your written disclosure will show every fee before you enrol.
APFSC fees are disclosed in writing before you enrol. There are no enrolment fees that exceed what Colorado law permits, no “monthly maintenance” charges hidden off the disclosure, and no fees taken from your first payment before any creditor has received a dollar.
How long it takes
Most DMP clients complete their plan in 3 to 5 years. Two illustrative client outcomes (names changed, dollars rounded):
- $14,569 across 4 cards, 21-year minimum-payment payoff → 5-year DMP payoff. Monthly payment dropped from $380 to $288; total interest fell from $17,563 to $2,699; interest saved: $14,864.
- $28,776 across 5 cards, 26-year minimum-payment payoff → 5-year DMP payoff. Monthly payment dropped from $750 to $568; total interest fell from $35,322 to $5,331; interest saved: $29,991.
Your numbers will differ. The free counseling session produces a written projection specific to your accounts.
Colorado consumer-debt law you should know
Knowing Colorado law before you talk to a collector — or to any counselor — keeps you from giving up rights you actually have.
Statute of limitations on credit-card debt in Colorado
The statute of limitations for collection lawsuits on credit-card debt and other written contracts in Colorado is 6 years under Colo. Rev. Stat. § 13-80-103.5. The clock generally runs from the date of the last payment or the last written acknowledgment of the debt.
A debt past the statute is still owed — but it becomes harder for a creditor to enforce in court. Making a partial payment or written acknowledgment can restart the clock under Colorado law. If you are being sued on an old account, consult a Colorado consumer attorney before responding or paying anything.
Wage garnishment in Colorado
Colorado follows the federal wage-garnishment cap: a judgment creditor may garnish the lesser of 25% of weekly disposable earnings or the amount by which weekly disposable earnings exceed 30× the federal minimum wage. Public-benefit income (Social Security, SSI, unemployment, most veterans’ benefits) is generally exempt. A creditor must first sue, win, and obtain a judgment before any wage attachment is possible.
Who regulates credit counselors and debt-relief agencies in Colorado
Credit-counseling and Debt Management Plan agencies operating with Colorado consumers are regulated primarily by the Colorado Division of Banking. Any agency that should appear in the Colorado Division of Banking’s database — and doesn’t — should be treated as a red flag. The Colorado Attorney General is where consumer complaints against any agency, including APFSC, would surface; check it before you sign anything.
For federal bankruptcy-context only: the U.S. Trustee Program’s Chapter 7 means-test median income for a four-person household in Colorado is approximately $153,501 (figure updated periodically by EOUST).5 We mention this purely because filers in some states qualify for Chapter 7 more easily than in others; bankruptcy is not a service APFSC offers.
How to verify a credit counselor serving Colorado
Before you sign anything — with APFSC or anyone else — run these checks. They take fifteen minutes:
- DOJ-approved counseling agency list. justice.gov/ust/list-credit-counseling-agencies-approved-pursuant-11-usc-111.5 APFSC is listed for the federal district(s) covering Colorado.
- Colorado state regulator. Colorado Division of Banking — confirm any state licence or registration that Colorado requires of a debt-adjuster or DMP agency. If a counselor refuses to identify the Colorado regulator they’re registered with, that’s a sign to walk.
- Colorado Attorney General consumer complaints. Colorado Attorney General — search the agency’s exact legal name. Look at the pattern, not the existence, of complaints.
- IRS Tax Exempt Organization Search. apps.irs.gov/app/eos — verify the 501(c)(3) status.
- BBB and CFPB Consumer Complaint Database. A clean record at both is the floor, not the ceiling.
The longer playbook is in Is Nonprofit Credit Counseling Legitimate? and DOJ-Approved Credit Counseling Explained.
Federal credit-counseling law in plain English
Under 11 U.S.C. § 109(h), any individual filing personal bankruptcy must complete a credit counseling session with a DOJ-approved agency within 180 days before filing, and a financial-management course before discharge.5 APFSC is approved to provide both certificates. We are not a bankruptcy law firm and we do not file bankruptcies — if filing turns out to be the right tool for you, your counselor will refer you to a Colorado consumer bankruptcy attorney. We do not earn anything from a bankruptcy referral. (Tax treatment of canceled debt is covered in IRS Publication 46813; bankruptcy-tax interaction in IRS Publication 9084.)
APFSC at a glance
| Credential | What it means | How to verify |
|---|---|---|
| DOJ-approved (11 U.S.C. § 111) | Authorised to provide pre-bankruptcy counseling and debtor education | DOJ approved-agency list |
| 501(c)(3) nonprofit | Tax-exempt, mission-driven | IRS Tax Exempt Organization Search |
| BSI ISO 9001:2015 #0047884258 | Quality-management system independently audited | BSI certificate directory |
| BBB Accredited Business | Adheres to BBB standards of marketplace trust | BBB profile |
| NACCC-certified counselors | Proctored exam + 16 CEU hours every two years | fcnonline.org |
Contact APFSC Colorado
7700 East Arapahoe Road Suite 220
Centennial, CO 80112
1-800-682-4007 · Monday–Friday
Get directions · Book consultation
Counseling is delivered by phone and secure web. Walk-in counseling at the Centennial address is by appointment only.
Frequently asked questions
Is credit counseling free for Coloradans?
The counseling session is free at APFSC. If you enrol in a Debt Management Plan, modest monthly administrative fees apply, capped by Colorado regulation. Every fee is disclosed in writing before enrolment.
Will a DMP hurt my credit score?
Enrolling in a DMP does not, by itself, lower your FICO or VantageScore. What can affect your score: the closing of revolving accounts that a DMP requires, and any late payments already on file before you enrolled. Most clients see scores recover within 12–24 months of finishing. Detail: How a DMP Affects Your Credit Score.
Can a Colorado creditor garnish my wages?
Yes, but only after a creditor has sued and obtained a judgment. Colorado follows the federal cap (lesser of 25% of disposable earnings or the amount above 30× federal minimum wage), and Social Security / SSI / unemployment are exempt.
What is the statute of limitations on credit-card debt in Colorado?
6 years from the date of last payment or written acknowledgment, under Colo. Rev. Stat. § 13-80-103.5. After that, the creditor’s right to sue is generally extinguished — but the debt remains legally owed and can affect credit reports.
Should I take a debt-consolidation loan instead of a DMP?
Sometimes. A consolidation loan is cheaper if you qualify for a single-digit APR and you have already fixed the spending that created the debt. If your credit is bruised or you are still using cards to cover the gap, the loan typically makes things worse. Full comparison: DMP vs. Debt Consolidation Loan.
What if bankruptcy is the right answer for me?
We’ll tell you, and refer you to a Colorado consumer bankruptcy attorney. Federal law requires credit counseling with a DOJ-approved agency in the 180 days before filing, and APFSC issues that certificate. We do not file bankruptcies.
How is APFSC funded if counseling is free?
Primarily by fair-share contributions from creditors — small percentages of the funds APFSC remits on behalf of DMP clients. That model is the industry-standard nonprofit credit-counseling funding structure and is disclosed in every client agreement.
Can a DMP stop a Colorado collection lawsuit that’s already been filed?
Not automatically. If a creditor has already filed suit, a DMP enrolment doesn’t pause the case. Your counselor can sometimes negotiate a settlement of the litigation in coordination with the DMP, or refer you to a Colorado consumer attorney. The earlier you call, the more options exist.
What happens if my income drops mid-plan?
DMPs are restructurable. If income falls, your counselor can renegotiate the monthly amount with creditors, extend the timeline, or in some cases pause the plan. The worst move is silence — call us, not the creditors, first.
Ready to talk to a counselor about your Colorado debt?
A free APFSC counseling session is the lowest-risk move a Coloradan carrying unsecured debt can make this month. We will tell you what works for your numbers — even if the answer is not a DMP.
Book your free consultation →
or call 1-800-682-4007, Monday–Friday.
APFSC · serving Colorado · 7700 East Arapahoe Road Suite 220, Centennial, CO 80112
DOJ-approved · 501(c)(3) nonprofit · BSI ISO 9001:2015 #0047884258 · BBB Accredited · Counselors NACCC-certified · Serving all Coloradans · No upsell · No obligation
Related reading
- [[link: pillar-01-credit-counseling-guide]]
- [[link: pillar-02-debt-relief-options-compared]]
- [[link: draft-01-dmp-vs-consolidation]]
- [[link: draft-02-nonprofit-credit-counseling-legit]]
- [[link: draft-03-dmp-credit-score-impact]]
- [[link: draft-04-doj-approved-credit-counseling]]
Footnotes
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myFICO, “Average credit-card debt and APR by state,” accessed 2026. https://www.myfico.com/credit-education/blog ↩
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Federal Trade Commission, “Coping with Debt.” https://consumer.ftc.gov/articles/coping-debt ↩
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IRS Publication 4681, “Canceled Debts, Foreclosures, Repossessions, and Abandonments.” https://www.irs.gov/pub/irs-pdf/p4681.pdf ↩
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IRS Publication 908, “Bankruptcy Tax Guide.” https://www.irs.gov/pub/irs-pdf/p908.pdf ↩
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U.S. Department of Justice, U.S. Trustee Program — Approved Credit Counseling Agencies (11 U.S.C. § 111). https://www.justice.gov/ust/list-credit-counseling-agencies-approved-pursuant-11-usc-111 ↩↩↩↩
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Consumer Financial Protection Bureau, “What is a debt relief program and how do I know if I should use one?” https://www.consumerfinance.gov/ask-cfpb/what-is-a-debt-relief-program-and-how-do-i-know-if-i-should-use-one-en-1457/ ↩↩
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National Association of Certified Credit Counselors. https://fcnonline.org/ ↩