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Is Clearpoint Credit Counseling Solutions Doing Debt Settlement?

A reader wanted me to watch a past video, that I’ve embedded below. The reader wanted to know if Clearpoint Credit Counseling Solutions was involved in debt settlement.

Clearpoint is an NFCC and AICCCA member agency (source) so the claim they had been involved in debt settlement sounded surprising to me. Typically non-profit credit counseling agencies are scared to touch debt settlement for fear of losing their creditor funding.

Maybe MSNBC was confused when they shot the piece. Here is what they say:

She had $5,000 in credit card debt, including a $1,700 balance on her Visa card, but with the help of a non-profit credit counseling service, (the consumer) was able to convince Visa Providian to settle for just $900.

And then surprisingly Jean Chatzky, who was and maybe still is a board member of the National Foundation for Credit Counseling (NFCC) agrees that debt settlement is a valid option. She says, creditors “are willing to deal” if you’ve fallen behind.

So why is credit counseling so resistant to settling debts if one of their own board members says creditors are willing to deal?


Damon Day - Pro Debt Coach

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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