(TNND) — One of America’s largest nonprofit credit counseling agencies says it’s now managing over $1 billion in debt on behalf of its clients.
That’s the most client debt that Money Management International has overseen in 13 years.
MMI now has more than 60,000 active debt management plans, its highest total since 2017.
And MMI recorded its highest monthly enrollment in over 15 years last month.
“It shows that there’s a lot of financial strain out there,” said Ted Rossman, MMI’s principal consumer finance analyst.
Rossman said MMI was at its busiest during the financial crisis that stretched from 2007 to 2009.
“Those are some of the numbers that we’re challenging right now,” he said.
Despite the dire debt situation for a lot of…