Get help with finances from the National Foundation for Credit Counseling agencies.
The NFCC partners with other 1,2000 member agencies to provide help, including with debt, credit needs and more to people of all ages, income and backgrounds. The organization is the nations oldest nonprofit dedicated to improving people’s money management skills and general financial well‑being. Find details below on what the National Foundation for Credit Counseling offers and how to get help. They have offices in most major towns and cities and they operate remotely as well.
Who can get help from the National Foundation for Credit Counseling
Certified NFCC counselors help with people from all walks of life, no matter their income. Clients range from homeowners to students, servicemembers, veterans, retirees and anyone in need of general financial support. The goal is to help people find solutions to high credit card balances, student loans, medical or credit car debt, or housing costs among other needs. They offer individuals a number of services, most of which is free
The organization offers confidential one-on-one credit and debt counseling. The goal is to help clients with paying off credit card debts using programs such as a DMP or interest rate reductions They also help families learn how to budget, invest their money, provide free financial literacy advice as well as many other services. a NFCC counselor will create a tailored action plan to help the client meet their goals, whether it is paying off debt, building a budget, dealing with creditors, or even preparing for homeownership or bankruptcy
What NFCC does: Credit counseling, education, and solutions to debt
A key program offered is the Debt Management Plan (DMP). With voluntary creditor participation, enrolled debts may qualify for lower interest rates, waived fees, refi - credit card modification, and consolidated monthly payments. Anyone that enrolls into a DMP will make one payment to the agency, which then distributes funds to your creditors. If you stick to the plan, collection calls and other creditor actions typically stop.
When it comes to direct debt relief options, National Foundation for Credit Counseling staff complete debt consolidation as well undertake the negotiation of interest rates for you directly with your credit card company or bank. Most centers will also offer credit card counseling debt management plans.
In addition to debt reduction resources, NFCC provides bankruptcy counseling, medical advocate services, housing counseling (including foreclosure prevention, first‑time homebuyer guidance, and reverse mortgage advice). They also help people reduce / get out of student loans and arrange budgeting education. The National Foundation for Credit Counseling will also provide financial literacy workshops, credit report reviews, and special programs for the specific needs of veterans and active‑duty military members Or they focus on the basics of investing into stocks, mutual funds or retirement accounts.
The results speak for themselves as well. The average clients reduce their debt by over $17,000 and NFCC client credit scores rise by an average of 50 points. Many people state that at minimum using the services provided by credit counseling centers like NFCC will help people gain peace of mind. This occurs as the services they provide will help reduce a consumers stress level.
Services from NFCC compared to others
Do not confuse NFCC with a debt consolidation loan agency or a financial advisor. While they may offer some of the same services, at least on the surface, there are key differences. Many consumers turn to for‑profit debt settlement firms or other questionable credit repair services promising fast results. But in general, anything too good to be true usually is.
As alternatives to a National Foundation for Credit Counseling member agency will often come with high fees, upfront payments, not effective debt relief, credit score damage, and no real oversight. NFCC member agencies are nonprofit, mission‑driven, and strictly held to fee limits as to what they can charge a client. Their counselors aren’t compensated based on your income or results.
Another one of the major differences between a National Foundation for Credit Counseling Center and a debt consolidation company is that while a company that consolidates your bills will provide you with a loan, a NFCC will offer you a number of additional services. NFCC will also differ from financial advisors as well in that they help with all aspect of financial literacy, ranging from credit repair to investing, pensions, and 401Ks among other services. A National Foundation for Credit Counseling counselor can provide tips on all of this as well as the pros and cons to each program.
Unlike for-profit debt settlement type companies, a holistic approach to money management is offered. National Foundation for Credit Counseling also help with general budgeting, saving, as well as investing. All of these are critical financial literacy skills that benefit families with a low income or those who are doing well in life.
- Staff give details on the best ways to save money as well as how to make your money work for you. They also have workshops on investing, understanding the pros and cons of stocks or mutual funds, tips on compound interest, as well as much more. Find more information on free financial literacy help.
Nonprofit NFCC organizations typically offer free initial consultations, transparent fee practices, and support whether or not your creditors participate. Clients users can ask questions about managing their finances, compare agencies, and verify accreditation before committing.
Find a National Foundation for Credit Counseling Center
While NFCC is a national organization, it connects you to local and regional nonprofit member agencies including local ones. Many of the credit counselors are embedded in communities, schools, charity groups, or social service networks. Those organizations and others can be found here, and use this to locate credit counseling agencies.
Whether you prefer to meet in person, online, or by phone, an NFCC counselor is available within your area. You can find agencies using the NFCC Agency Finder at https://www.nfcc.org/agency-finder/ or by calling toll‑free at 800‑388‑2227.
Many community action agencies either also offer credit counseling, or they can refer an individual to a NFCC approved credit counseling agency in their area. Click here to find your local community action agency and credit counseling center. Contact a community action.
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