If you’re dealing with debt in New York, you’re not alone. From New York City and Buffalo to Rochester, Albany, and surrounding areas, millions of New Yorkers are managing rising credit card debt, student loans, and high living expenses. At APFSC, we provide tailored, non-profit debt relief and credit counseling services to help you reduce your payments, simplify your finances, and work toward long-term financial stability.
The Growing Debt Problem
The Financial Reality in New York
New York is one of the most expensive states to live in, especially in major cities. Rent, transportation, healthcare, and everyday expenses are consistently higher than the national average. As a result, many residents rely on credit cards or loans to stay afloat. The average credit card debt in New York is over $6,200, while the average student loan debt has climbed to nearly $37,000. About 11.6% of New Yorkers carry active student loan balances.
With inflation pushing prices even higher, many families find themselves in a cycle of minimum payments and rising interest. APFSC is here to help you break that cycle with a proven plan and one-on-one support.
How APFSC Helps New Yorkers Pay Off Debt
Our process begins with a free consultation, where a certified credit counselor evaluates your income, living expenses, and current debt. From there, we design a customized Debt Management Plan (DMP) to consolidate your unsecured debts into one monthly payment—often with reduced interest rates and waived fees.
With a DMP, you’ll get:
- One fixed monthly payment tailored to your budget
- Negotiated lower interest rates with most creditors
- Stopped late fees and collection calls
- A path to becoming debt-free in 3 to 5 years
- Access to budgeting support and financial education
This is not a loan—it’s a smarter way to pay off what you already owe and take back control of your money.
Why New Yorkers Fall Into Debt
- High cost of rent and housing in cities like NYC and Brooklyn
- Medical expenses not covered by insurance
- Job loss or reduced hours in competitive markets
- Reliance on credit to cover commuting and food costs
- Student loan burdens without a clear repayment plan
Talk to a HUD-certified housing counselor to get help with the housing challenges you’re facing.
Why a Debt Management Plan Works
A Debt Management Plan is one of the most effective tools for paying off unsecured debt such as credit cards, medical bills, and personal loans. Instead of juggling multiple payments, you’ll make one monthly payment to APFSC, and we’ll pay your creditors directly—often with reduced rates and better terms.
Benefits include:
- Reduced interest and lower total repayment
- Fewer late fees and eliminated penalties
- Protection from debt collectors and legal threats
- Steady credit score improvement with on-time payments
- Support from certified credit counselors throughout the process
Most clients complete their DMP in 3 to 5 years, depending on the total amount owed and what they can afford each month.
Your Consumer Rights in New York
As a resident of New York, you’re protected under the Fair Debt Collection Practices Act (FDCPA), which prevents harassment, threats, or misleading communication from debt collectors. The state also enforces a statute of limitations—typically six years for unsecured debts—after which legal action to collect may no longer be valid.
If you’re experiencing constant phone calls, wage garnishment threats, or lawsuits, APFSC can help you understand your rights and find the best path forward.
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 New York. 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 New York | APFSC
Reviewed by an APFSC NACCC-Certified Credit Counselor · Last updated 2026-05-13
APFSC New York · 28 Liberty Street · New York, NY 10005 · 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 New Yorkers. 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
Note on this address. 28 Liberty Street, New York, NY 10005 is APFSC’s registered office in New York (registered-agent service: CT Corporation). All counseling is delivered by phone and secure web by counselors operating from APFSC’s nonprofit headquarters; the New York address is the agency’s legal contact point for New York service-of-process and regulatory correspondence. Walk-in counseling is not offered at this address.
Talk to a counselor about your New York 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 New York law.
Quick links
- Why New Yorkers call APFSC
- What a Debt Management Plan does for New Yorkers
- Cost and timeline of a DMP
- New York consumer-debt law you should know
- How to verify a credit counselor serving New York
- APFSC at a glance
- Frequently asked questions
Why New Yorkers call APFSC
New York’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 New York: {VERIFY: avg credit-card balance per borrower from myFICO state data}.1
New Yorkers 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 New York — from New York City, Buffalo, Rochester, Yonkers, and Syracuse to smaller communities in between.
What a Debt Management Plan does for New Yorkers
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 New Yorker
- 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 New York accounts. Regional banks and credit unions operating in New York 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 New York 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 New York regulators (notably the New York Department of Financial Services (DFS)) 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 New York 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.
New York consumer-debt law you should know
Knowing New York 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 New York
The statute of limitations for collection lawsuits on credit-card debt and other written contracts in New York is 3 years — one of the shorter credit-card SOL periods nationally — under N.Y. C.P.L.R. § 214-i. 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 New York law. If you are being sued on an old account, consult a New York consumer attorney before responding or paying anything.
Wage garnishment in New York
New York wage-garnishment law is more protective than federal: garnishment is capped at the lesser of 10% of gross earnings or 25% of disposable earnings above 30× the federal minimum wage, and creditors must follow the Income Execution procedure under N.Y. C.P.L.R. § 5231. Social Security, SSI, and unemployment income are exempt.
Who regulates credit counselors and debt-relief agencies in New York
Credit-counseling and Debt Management Plan agencies operating with New York consumers are regulated primarily by the New York Department of Financial Services (DFS). Any agency that should appear in the New York Department of Financial Services (DFS)’s database — and doesn’t — should be treated as a red flag. The New York 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 New York is approximately $139,040 (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 New York
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 New York.
- New York state regulator. New York Department of Financial Services (DFS) — confirm any state licence or registration that New York requires of a debt-adjuster or DMP agency. If a counselor refuses to identify the New York regulator they’re registered with, that’s a sign to walk.
- New York Attorney General consumer complaints. New York 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 New York 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 New York
28 Liberty Street
New York, NY 10005
1-800-682-4007 · Monday–Friday
Get directions · Book consultation
Counseling is delivered by phone and secure web. Walk-in counseling at the New York address is by appointment only.
Frequently asked questions
Is credit counseling free for New Yorkers?
The counseling session is free at APFSC. If you enrol in a Debt Management Plan, modest monthly administrative fees apply, capped by New York 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 New York creditor garnish my wages?
Yes — but New York caps garnishment at the lesser of 10% of gross earnings or 25% of disposable earnings above 30× federal minimum wage, after a judgment.
What is the statute of limitations on credit-card debt in New York?
3 years from the date of last payment or written acknowledgment, under N.Y. C.P.L.R. § 214-i. 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 New York 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.
Does New York require credit-counseling agencies to be specifically licensed?
Some states (including California, New York, and Massachusetts) require an additional state license or registration to administer Debt Management Plans for residents. Others rely primarily on the federal DOJ-approved roster and on the agency’s nonprofit/501(c)(3) status. APFSC operates in New York consistent with applicable New York requirements and is on the DOJ-approved list under 11 U.S.C. § 111.5
Will enrolling in a DMP show up on my credit report?
Some creditors note participation in a DMP on the tradeline. It is not a derogatory mark in itself — FICO and VantageScore do not weight it like a late payment or charge-off. Late payments already on file before enrolment do affect your score; on-time DMP payments help rebuild it over time.
Is APFSC a Better Business Bureau accredited business in New York?
APFSC’s BBB accreditation is held at the agency level, not state-by-state. It applies to APFSC’s relationship with New Yorkers the same as anywhere else. You can verify on bbb.org.
Ready to talk to a counselor about your New York debt?
A free APFSC counseling session is the lowest-risk move a New Yorker 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 New York · 28 Liberty Street, New York, NY 10005
DOJ-approved · 501(c)(3) nonprofit · BSI ISO 9001:2015 #0047884258 · BBB Accredited · Counselors NACCC-certified · Serving all New Yorkers · 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/ ↩