Has anyone heard of Money Management International?

Yes. And I think I know why you posted this question. Googling this company yields a flood of useless hits, almost all of which are traceable to the company itself. Finding independent information on them is difficult. I just discovered this myself yesterday when I had reason to become curious about their business practices.

A new Wikipedia entry has since been created, and is under development by myself and others. You can find it here:

http://en.wikipedia.org/wiki/Money_management_international

There are a few notable points to keep in mind:

1. MMI can offer legitimate services to help resolve debt issues. But the company receives significant funding from credit card issuers and mortgage issuers themselves. In fact the company was originally created by card issuers. While it does help consumers, it does it in a way that satisfies the interests of these creditors. Notably, MMI Debt Management Plans may be recommended for consumers who would in fact be better served declaring bankruptcy. Card issuers don't want you to declare bankruptcy. They'd rather work things out.

2. A Debt Management Plan, should you choose one, will affect your credit record. The effects in some cases will last exactly as long as a bankruptcy.

3. In short: consider bankruptcy, if your problems are serious. And don't just rely on MMI's advice when you make your decision.

4. MMI charges fees to consumers for Debt Management Plans. These fees are voluntary. But they may not tell you that. MMI is a tax-exempt, nonprofit organization that must provide charitable services. However, the company in the past has misled consumers into believing they had no choice but to pay the voluntary fees.

5. You can find a useful story on the voluntary fee issue here:

http://www.khou.com/news/defenders/investigate/stories/khou051130_cd_defenders.2bca7013.html

6. MMI's membership in the Better Business Bureau of Houston, TX (where the company is based) was revoked. The BBB asserted that MMI provided inaccurate, false or misleading information to consumers.

You can find the BBB's revocation letter here (it's a PDF file):

http://www.khou.com/images/0603/bbb_mmi.pdf

7. When your credit problems are serious, you may need help. If you are skeptical of MMI's intentions you should try finding help elsewhere. Options include bankruptcy attorneys and counseling from legitimate accounting firms. All firms offering debt consolidation and Debt Management Plans should be regarded with skepticism, even MMI and Consumer Credit Counseling Services and others that have the approval of the National Foundation for Credit Counseling. The NFCC was also created by card issuers.

8. Good luck.