Trinity Debt Management: Lower Cost with a Nonprofit Touch

Overview of Trinity Debt Management

Founded in 1994, Trinity Debt Management is a credit counseling and debt management agency based in Cincinnati, Ohio. Their mission, starting in 1994, is to assist individuals and families to overcome financial challenges and become financially educated. They are available in 45 US states in total, excluding the states of Kansas, Montana, Nevada, New York, or Rhode Island.

Trinity offers several services, with a primary focus on debt management plans (DMPs). These plans consolidate multiple account payments into a single, manageable monthly payment. In addition to DMPs, they provide expert credit counseling, budgeting assistance, and free educational resources.

While the agency has a long standing in the industry, they lack certain accreditations that might be expected from such an experienced organization. They are not accredited by the Better Business Bureau (BBB), the American Fair Credit Council (AFCC), or the International Association of Professional Debt Arbitrators (IAPDA). However, they list the following as their source of accreditation: registration with the Oregon Department of Consumer and Business Services, a license from the Virginia State Corporation Commission, and a license from the state of Michigan.

Types of Debt Covered by Trinity Debt Management

The company mentions that their services are directed towards people with unsecured types of debt. However, we were successful in finding the following types of unsecured debt that they cover:

• Credit card debt
• Unsecured personal loans
• Lines of credit
• Medical debt

To determine if Trinity’s debt relief services cover your specific type of debt, it’s best to contact them directly. You can use the contact information provided below for accurate guidance.

Services Offered by Trinity Debt Management

The agency offers the below services:

• Debt Management Plans (DMPs): For over three decades, Trinity’s specialty has been their personalized debt management plans that consolidate multiple debts into one single monthly payment. This approach simplifies finances, reduces interest rates, and eliminates late fees through negotiations with creditors. They also promise to work to decrease or eliminate collection calls
• Free credit counseling: They state that their certified credit counselors can provide you with personalized advice on how to best manage your debt, how to budget, and how to improve your overall financial health
• Budgeting assistance: Even though they do not offer straight budgeting plans or tools, they can educate you on the best budgeting practices for your specific needs and how to find the best budgeting resources out there
• Educational resources: They pride themselves on being a free education provider on many financial topics. Topics that include debt relief, homebuying, loans, and personal finance, delivered in article format, free e-books, financial calculators, and personal finance programs

Fees at Trinity Debt Management

They do not disclose the average percentage rate of total money saved by their clients. However, they claim that their debt management plans can help reduce interest rates and eliminate late fees by as much as 60%.

For their monthly fees, they typically charge between $8 and $50, with an average of $34. The exact fee depends on the specifics of your plan and the total amount of debt being managed. Based on our research, Trinity does not charge upfront fees. Instead, all fees are incorporated into the monthly payments.

To qualify for a DMP with them, you need a minimum debt of $10,000. Depending on the amount of debt and your ability to meet monthly payments, the typical duration of their program is between 36 and 60 months.

Advantages & Disadvantages of Trinity Debt Management

In this section, we break down the main advantages and disadvantages you need to know before considering Trinity as your debt relief provider.

Advantages

• Free initial consultation: Trinity offers a complimentary initial consultation, allowing you to understand their debt relief options without any financial commitment. This gives you the opportunity to receive professional advice and make informed decisions without any commitment on your end
• Lower fees: Their fee structure is relatively low compared to competitors, at an average monthly fee of $34. This is due to the fact that they follow a nonprofit business structure
• Extensive educational resources: The company provides a wealth of educational materials, including instructional videos, free books, articles on various forms of debt relief, financial calculators, and a personal finance program provided by MoneyEd

Disadvantages

• Lack of industry accreditations: Despite their long history and experience, the organization lacks accreditation from key industry organizations such as the Better Business Bureau (BBB), the American Fair Credit Council (AFCC), and the International Association of Professional Debt Arbitrators (IAPDA)
• Limited state availability: They are licensed to extend their services in 45 states, except in Kansas, Montana, Nevada, New York, or Rhode Island. This limitation restricting access to their services might result in excluding individuals who could benefit from their debt relief programs in these places
• Limited debt relief solutions: They primarily focus on offering debt management plans and do not offer a wide range of debt relief solutions. If you’re seeking alternative methods to debt relief, such as debt settlement or consolidation loans, you may need to look elsewhere for more options

Client Experience at Trinity Debt Management

On Trustpilot, the nonprofit holds a commendable rating of 4.4 out of 5 stars, indicating a generally positive reception from users. However, they are not rated on the Better Business Bureau (BBB) or Google Reviews. 

Positive feedback

Many customers express high levels of satisfaction with Trinity, particularly highlighting the company's knowledgeable and understanding staff. For example, many reviewers liked to commend the personalized care and attention they received, which made them feel supported during their debt relief struggles. Others mentioned the significant reduction in the interest rates they paid.

Critical feedback

Despite the positive reviews, some customers have expressed dissatisfaction with the handling of payments, such as late or missed payments to creditors, which can negatively impact clients' credit scores. There were also concerns about unexpected fees and a lack of transparency regarding the costs associated with the program.

Customer Support at Trinity Debt Management

You can contact their team by phone at 800-793-9049 or by filling out the Contact Us form on the company's website. Additionally, you can subscribe to their newsletter for updates and information. You can also visit them at:

11229 Reading Road, 
Cincinnati, 
OH 45241

Final Thoughts 

In conclusion, Trinity Debt Management is an Ohio-based nonprofit organization that has been serving individuals and families with personalized debt management plans, credit counseling, and financial education since 1994.

They stand out for their free initial consultation, lower fees compared to many competitors, and extensive educational resources. However, they are not accredited by some key industry organizations like AFCC and IAPDA and are only available in 45 states.

Ultimately, the suitability of Trinity’s services depends on your own preferences and financial goals. To explore other options in the debt relief industry, visit our review page. You can also lay out debt relief providers against each other and compare their offerings through our comparison tool. To attain general knowledge and insights on debt relief and other financial fields, visit our blog page.

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