This page is a quick look at what it costs to pay off $15,000 in debt through four approaches: Credit Counseling (DMP), Debt Settlement, Consolidation Loan, and Bankruptcy. It covers five credit tiers and four monthly amounts toward debt. Credit Counseling (DMP) and Consolidation Loan are the two whose total changes: Credit Counseling (DMP) with the amount you can pay each month, and Consolidation Loan with your credit tier. Debt Settlement and Bankruptcy cost the same in every combination. For results based on your own numbers, enter them in the Debt Disclosure Project Cost Calculator.
CLICK HERE TO CALCULATE THE TOTAL COST AND TIME TO BECOME DEBT-FREE AT $15,000
How Much Does a Debt Management Plan Cost at $15,000?
A Credit Counseling (DMP) plan has to clear the balance inside the 60 month guideline, and its payment is fixed once approved. If the amount you can put toward debt monthly is too low to finish in time, the plan is not viable. A higher monthly amount shortens the timeline and lowers the total, but every viable result still costs more than the $15,000 owed. Credit Counseling (DMP) results are the same at every credit tier, because the calculator applies one DMP rate after concession regardless of credit.
| Amount You Can Put Toward Debt Monthly | Credit Counseling (DMP) Total You’d Pay | DMP % of $15,000 Balance | DMP Timeline | Debt Settlement Total You’d Pay | Bankruptcy Total You’d Pay |
|---|---|---|---|---|---|
| $225 | Not viable* | Not viable | Would exceed 60 months | $11,250 to $12,000 | Ch. 7: $1,638 to $1,838; Ch. 13: about $5,113 |
| $375 | $19,166 | 128% | 51 months | $11,250 to $12,000 | Ch. 7: $1,638 to $1,838; Ch. 13: about $5,113 |
| $600 | $17,441 | 116% | 29 months | $11,250 to $12,000 | Ch. 7: $1,638 to $1,838; Ch. 13: about $5,113 |
| $1,200 | $16,841 | 112% | 14 months | $11,250 to $12,000 | Ch. 7: $1,638 to $1,838; Ch. 13: about $5,113 |
*Credit Counseling (DMP) needs about $331 per month to finish inside the 60 month guideline.
How Much Does a Consolidation Loan Cost at $15,000 by Credit Tier?
A Consolidation Loan’s APR is set by your credit tier, so the total you’d pay rises as the tier falls. At every credit tier where a Consolidation Loan is likely available, the total is above the original $15,000 balance. Under 580, the calculator shows it as likely not available. Consolidation Loan results are the same at every monthly amount, because the calculator fixes the loan at 48 months and sets the APR by credit tier.
| Your Credit Tier | Consolidation Loan APR | Consolidation Loan Total You’d Pay | Consolidation Loan % of Balance | Consolidation Loan Timeline | Debt Settlement Total You’d Pay | Bankruptcy Total You’d Pay |
|---|---|---|---|---|---|---|
| 800 or above | 14.76% | $19,951 | 133% | 48 months | $11,250 to $12,000 | Ch. 7: $1,638 to $1,838; Ch. 13: about $5,113 |
| 740 to 799 | 17.01% | $20,779 | 139% | 48 months | $11,250 to $12,000 | Ch. 7: $1,638 to $1,838; Ch. 13: about $5,113 |
| 670 to 739 | 22.75% | $22,979 | 153% | 48 months | $11,250 to $12,000 | Ch. 7: $1,638 to $1,838; Ch. 13: about $5,113 |
| 580 to 669 | 27.59% | $24,925 | 166% | 48 months | $11,250 to $12,000 | Ch. 7: $1,638 to $1,838; Ch. 13: about $5,113 |
| Under 580 | Not available | Not available* | Not available | Not available | $11,250 to $12,000 | Ch. 7: $1,638 to $1,838; Ch. 13: about $5,113 |
*A loan is likely not available at this tier. Entering a different APR in the calculator does not change this.
$15,000 in Debt: Total You’d Pay by Credit Tier and Monthly Amount
Each cell shows the total you’d pay through Credit Counseling (DMP) and a Consolidation Loan. The bottom two rows show Debt Settlement and Bankruptcy, which cost the same in every combination.
| Monthly Amount Toward Debt | Your Credit Tier | ||||
|---|---|---|---|---|---|
| 800 or above | 740 to 799 | 670 to 739 | 580 to 669 | Under 580 | |
| $225 | DMP: Not viable | DMP: Not viable | DMP: Not viable | DMP: Not viable | DMP: Not viable |
| Consolidation Loan: $19,951 | Consolidation Loan: $20,779 | Consolidation Loan: $22,979 | Consolidation Loan: $24,925 | Consolidation Loan: Not available | |
| $375 | DMP: $19,166 | DMP: $19,166 | DMP: $19,166 | DMP: $19,166 | DMP: $19,166 |
| Consolidation Loan: $19,951 | Consolidation Loan: $20,779 | Consolidation Loan: $22,979 | Consolidation Loan: $24,925 | Consolidation Loan: Not available | |
| $600 | DMP: $17,441 | DMP: $17,441 | DMP: $17,441 | DMP: $17,441 | DMP: $17,441 |
| Consolidation Loan: $19,951 | Consolidation Loan: $20,779 | Consolidation Loan: $22,979 | Consolidation Loan: $24,925 | Consolidation Loan: Not available | |
| $1,200 | DMP: $16,841 | DMP: $16,841 | DMP: $16,841 | DMP: $16,841 | DMP: $16,841 |
| Consolidation Loan: $19,951 | Consolidation Loan: $20,779 | Consolidation Loan: $22,979 | Consolidation Loan: $24,925 | Consolidation Loan: Not available | |
| Debt Settlement (every combination): $11,250 to $12,000, 36 months | |||||
| Bankruptcy (every combination): Ch. 7 $1,638 to $1,838, about 4 to 6 months; Ch. 13 about $5,113, 3 to 5 years | |||||
Results from the Debt Disclosure Project Cost Calculator for $15,000 in total unsecured debt. Assumes a 22.15% current credit card APR, the Federal Reserve G.19 average rate on credit card accounts assessed interest (Q2 2026), meaning accounts that carry a balance rather than all cardholders. Assumes a 7.5% DMP rate after concession, within the 6.6% to 8.4% range GreenPath, Money Management International, and InCharge publish. Credit Counseling (DMP) totals include setup and monthly fees. Consolidation Loan totals exclude a possible origination fee of 0% to 8%. Debt Settlement totals exclude dedicated account fees, income tax on forgiven debt, and dropout.
Get Your Own Numbers at $15,000
Your monthly amount or credit tier not listed here? Enter your exact balance, APR, credit tier, and the amount you can put toward debt monthly in the Debt Disclosure Project Cost Calculator to see the total you’d pay and timeline for each approach.