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Tag Archives: nfcc

Why is Credit Counseling Stumped Demand is Down?

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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 »

    NFCC Challenges Debt Relief Industry to Think Bold. My Thoughts.

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    It appears Michael Bovee took the NFCC challenge to think bold about consumer services to heart and submitted this guest post. Steve published his reaction to the state of the industry speech made by Keating at the recent NFCC conference here. There is a great deal contained in the address by Keating to comment on. The less than full balance ... Read More »

      NFCC and Nonprofit Credit Counseling Must Be Dreaming They Are Falling

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      Recently there was a meeting of the National Foundation for Credit Counseling (“NFCC”) where the State of the Union was laid out for credit counseling groups attending. It was actually called the 2011 State of the Credit Counseling and Financial Education Sector Address The published remarks from that speech by Susan Keating, President and CEO of NFCC, paint a somewhat ... Read More »

        NFCC Appears to be Talking Out of Both Sides of Their Mouth

        Recently the National Foundation for Credit Counseling (“NFCC”), the nonprofit franchise operation for credit counseling outfits, filed a public statement in which they were winging about the amount of funding they get from creditors. Historically, a significant amount of support for those activities came from creditors in the form of “fair share.” In recent times, however, and due in a ... Read More »

          Credit Counseling Against Registration of Debt Relief Providers? Huh?

          In what is another of the ultimate ironies of nonprofit charitable credit counseling, it appears that at least two trade associations feel nonprofit credit counselors should not have to participate in any national registration of debt relief companies with the Consumer Financial Protection Bureau. I must admit, the position against CFPB registration stumps me and seems anti-counsumer at face value. ... Read More »

            Dear Credit Counselors, You Are Your Own Worst Enemy.

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            I’m frustrated. For the life of me I can’t understand why credit counseling continues to look at debt settlement as the enemy. The anger and desire to kill the solution seems to be opposite of what a charitable industry should be trying to do. The other day over a delicious Cracker Barrel lunch I was asked which side of the ... Read More »

              The Importance of Data Transparency When Working With Credit Counseling and Debt Settlement Regulators and Lawmakers

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              Recently Christoper Viale, the president and CEO of Cambridge Credit Counseling, and I had a chance to talk about a number of issues that are important in the debt relief world today. You can read the full transcript of our conversation below. Some of the highlights are: Coming forward with actual credit counseling performance data was not embraced with open ... Read More »

                NFCC and CCCS Should be Open and Transparent When It Comes to Performance

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                For far too long credit counseling groups have remained silent about how their service actually performs. Many routinely direct consumers to nonprofit credit counselors but how effective are they? The actual performance numbers have always been a closely guarded secret. That secret has been held, not out of modesty, but out of fear that when it was reveled, fans and ... Read More »

                  NFCC Hooks Up With United Way for Free Marketing

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                  The following press release was sent out announcing the new partnership between the National Foundation for Credit Counseling and United Way. What I can’t figure out is what United Way gets out of this relationship. National Foundation for Credit Counseling and United Way Worldwide Join Together to Help Financially Distressed Consumers Washington, D.C. (Vocus/PRWEB) April 04, 2011 The National Foundation ... Read More »

                    The History of Getting Out of Debt This Week on the Get Out of Debt Guy Show

                    In this show I talk with Dr. Louis Hyman, a consumer credit historian. We talk about the history of debt relief. He points out that the process of intervening in the debt of consumer began way back after World War I with the advent of new consumer debt opportunities. It does not matter if it was the refinancing of debt ... Read More »

                      What Do You Think About the NFCC Debt Management Program? – Nancie

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                      “Dear Steve, My 74-yr-old mother has approx. $20K in unsecured debt, spread over numerous Visa/MC and store credit cards. She lives in a Seniors’ mobile home park (I purchased the structure in which she lives; it is titled in my and my husband’s Trust); her monthly space rent is Read More »

                        National Foundation for Credit Counseling (NFCC) – Scam, Complaint, Review, or Praise?

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                        Please share your experience with this debt relief association and provide your review and feedback, in the comments section below. The goal of this page is to allow people to share information that may be important to help others to make a more informed decision regarding their experience with this debt relief association. Here are some potential questions you might ... Read More »

                          CareOne Sends Notice to NFCC That They Should Comply With FTC Rules

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                          Here is a copy of the letter that CareOne sent to the National Foundation for Credit Counseling yesterday asking them to comply with the new FTC telemarketing sales rules. Apparently both ACCPros and AICCCA received the same letter. August 31, 2010 Susan C. Keating President and CEO National Foundation for Credit Counseling 801 Roeder Road, Suite 900 Silver Spring, MD ... Read More »

                            Debt Settlement Trade Group Blaming New York Activists for Debt Settlement Legislation But Banks Were In On It As Well

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                            Interesting messages floating around about the Debt Settlement Consumer Protection Act of 2010. At least one debt settlement trade group is trying to vilify the creators of this legislation by saying the bill was secretly drafted by New York based liberal activists. But the major drivers of this bill appear to be primarily D.C. based entities and while the debt ... Read More »

                              Debt Settlement Industry in Denial At Their Own Peril. Ass Whopping Next Week.

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                              Just one day after the Senate hearing on the debt settlement industry, many inside the industry think the hearings went okay or feel they were a bit one sided but they can recover from that. People, it’s time to wake up and smell the coffee. New Legislation Will Make Debt Settlement Companies Vomit A Washington Post article today confirms what ... Read More »

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