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The National Foundation for Credit Counseling (NFCC), founded in 1951, is the largest and longest-serving nonprofit financial counseling organization in the United States. NFCC member agencies provide access to financial counseling services for consumers.
Credit counseling (known in the United Kingdom as debt counseling) is commonly a process that is used to help individual debtors with debt settlement through education, budgeting and the use of a variety of tools with the goal to reduce and ultimately eliminate debt. [1]
Credit counseling services can either come from nonprofit organizations or for-profit companies. If you’re feeling the pinch in your budget from debt payments, you join millions of other ...
Because no mechanism currently exists to track the outcomes of the counseling, policymakers and program managers are unable to fully assess how well the requirement is serving its intended purpose. — Government Accounting Office, Bankruptcy Reform: Value of Credit Counseling Requirement Is Not Clear
When choosing a debt management program, stick with companies approved by the National Foundation for Credit Counseling. The Consumer Financial Protection Bureau's database lets you check if a ...
Medical debt comes with more consumer protections than credit card debt, so a nonprofit debt management counselor may have more options for negotiating this debt, such as social service referrals ...
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