How Can the National Foundation for Credit Counseling Help You?

The national foundation for credit counseling (NFCC) is the largest nonprofit, credit counseling group in the United States. The NFCC is responsible for delivering low, or no cost, counseling to people in need of help with credit, debt and overall financial problems. Depending on a person's circumstances and the financial troubles that they face, the NFCC (and its Consumer Credit Counseling Service members) can offer advice to alleviate problems. NFCC services can best be organized and explained by the counseling that they provide.   

General Counseling

The NFCC website offers consumer tools to help organize and manage your finances. These tools include a budget worksheet, financial calculators and various other topics. In person the NFCC holds live public events across the country that to educate consumers regarding credit control, financial success, and overall money management. The NFCC also sells educational products that can be purchased online. 

Mortgage Credit Counseling

The NFCC is recognized and approved by the United States Department of Housing and Urban Development as a special group that helps new homeowners get advice. Following its commitment to promote responsible financial decision making, the NFCC provides potential home owners with a comprehensive list of advantages and disadvantages of home ownership. It also provides three other special services:

  • Pre-purchase counseling: For people that want to buy a home and are unsure of their financial situation, the NFCC provides guidance in the form of an expense break down, a cost analysis and advice on how to increase borrowing power. Detailed information can be accessed by calling the NFCC's housing counseling referral line at (866) 687-6322.
  • Foreclosure Prevention: For people who are worried about losing their homes, the NFCC provides a way to help a homeowner analyze the status of their mortgage and determine if their home is really at risk. The NFCC also helps consumers steer clear of foreclosure avoidance scams. 
  • Reverse Mortgage: For elderly people who are also home owners, the NFCC lays out the details of a reverse mortgage. With this service the NFCC describes the specific nature of a reverse mortgage, provides mortgage credit counseling for those that are eligible for reverse mortgages and answers common questions that potential reverse mortgage holder may have.   

Debt Consolidation Counseling

For people who are in extremely severe debt, the NFCC offers a program called the Debt Management Plan (DMP). Through the DMP the NFCC helps debtors slowly and systematically reduce the amounts that they owe. The NFCC provides debt consolidation counseling by acting as an intermediary between the debtor and the lender. By having the NFCC as a liaison between debtor and lender, stress is reduced to the debtor.

Bankruptcy Counseling

For people who are considering filing bankruptcy, the NFCC offers counseling about what bankruptcy really means, whether or not filing for bankruptcy is advantageous and discusses alternatives to filing for bankruptcy. Through a pre-filing counseling session and a pre-discharge counseling session, the NFCC educates people on how to improve their finances in order to avoid having to file for bankruptcy again in the future.

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