Legitimate Debt relief services are often boiled down to 3 categories, which include nonprofit credit counseling agencies, debt negotiators, and bankruptcy attorneys. I want to focus on the role of today’s credit counselors, and how they can fill a larger pair of shoes this year and beyond, with a keen focus on student debt. Student loan debt has rightly been ... Read More »
I could not help but notice the number of new financial initiatives that seem to just disregard Consumer Credit Counseling as we know it with groups like the National Foundation for Consumer Credit. Could it be true that out in the wider world the NFCC and its members have just lost their luster? Here is what prompted my question over ... Read More »
I could not help but notice an absence of some familiar faces in an announcement by the Consumer Financial Protection Bureau (“CFPB”) today on financial education. The CFPB announced an inspired national project to help those most in need to get more education about managing their finances. You would have expected the National Foundation for Credit Counseling to have been ... Read More »
A press release out by Advantage Credit Counseling Service drew me to their site today. – Source. While there I came across a good example of the ethical conundrum facing nonprofit credit counselors today. Advance Credit Counseling Service is not alone in dealing with this problem. According to the Advantage Credit Counseling Service website they are a proud member of ... Read More »
The National Foundation for Credit Counseling sent out a press release today claiming their survey uncovered public misconceptions about credit counseling agencies. The press release listed five areas the NFCC felt consumers struggled with in knowing the truth about credit counseling. But some of the points the NFCC felt they needed to clarify appear to actually misrepresent the truth to ... Read More »
Consumer credit counseling is one of the options people turn to when dealing with debt issues so let’s take an honest look at the pros and cons of the program and what it has to offer. Consumer credit counseling in one form or another has been around as debt proraters, debt lumpers, or debt consolidators since the late 1930s. But ... Read More »
As a student of debt history I’m probably one of those odd geeks that spends time reading outdated and arcane material about consumer debt and debt relief activities. Recently I sat down and read a 1968 document put out by the NFCC. Today they are called the National Foundation for Credit Counseling but back then they were the National Foundation ... Read More »
The National Foundation for Credit Counseling Recently put out a press release celebrating their clients of the year who, in my opinion, should never have been put into a debt management plan to begin with. See NFCC Celebrates Utter Stupidity and Puts Older Dementia Patient in Debt Management Plan. My goodness, I hate to make this issue about Jim and ... Read More »
A press release out today by the National Foundation for Credit Counseling is downright ignorant, stupid, harmful and cruel. It’s hard to believe they feel this is something to be proud of. For the record, I’m not calling the consumer stupid. In this release the NFCC brags about Francine and Jim Bostick who at ages 57 and 68 had more ... Read More »
On one hand you have to applaud the most recent release from the National Foundation for Credit Counseling. One thumb up. On the other hand it comes across as simply just more denial about the disturbing lanscape that faces narrow niche nonprofit credit counselors. The NFCC survey was an online poll conducted on the NFCC website. Right off the bat ... Read More »
Today I got an email from USA.gov that struck me. The email made it seem as if credit counseling could help rebuild credit. That a no-no for credit counseling to avoid or run afoul of the CRedit Repair Organizations Act. I’ve covered that here. The email USA.gov sent out linked only to National Foundation for Credit Counseling (NFCC) to find ... Read More »
This is a story that I’ve been working on for a few weeks. I’ve been asking people and groups for feedback and information to write this but what I’ve run into, is a wall. I have received some feedback from groups and people that don’t wish to be publicly identified to protect themselves but what I have learned has been ... Read More »
“Dear Steve, My husband and I would like to consolidate our debt into one payment, but do not want to be scammed. Collectively we have 41,000 in debt, including school debt and credit. We cannot file for bankruptsy because our parents co-signed on a loan for 20,000 of it. We own a house, a business and two cars. We looked ... Read More »
A lawsuit I’ve been following since it became publicly available back in the middle of October has become a major milestone in what could spell the death of credit counseling as we know it I first learned of this case about six months ago when it was developing but I’d not written anything about it at that time. In fact ... Read More »
Over the past couple of weeks I’ve noticed a wave of information appearing on the web about the decrease in demand for credit counseling services. The reason given seems to be “consumer fatigue.” The peak client numbers that nonprofit consumer credit counselors saw in 2009 appear to be slowly falling. NFCC member agencies in the Ninth District began to see ... Read More »
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