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Debt Management

Founded in 1951, the National Foundation for Credit Counseling is the largest serving nonprofit financial counseling organization. Find various topics in this blog, including personal finance, credit counseling, housing, budgeting and student loan help. Click here to speak with an NFCC-certified Consumer Credit Counselor.

The NFCC Congratulates NerdWallet for their Recent Award

 By Tara Carter Congratulations to our friends at NerdWallet for their Honorable Mention in the Most Innovative Non-Bank Financial Services Organization category at the 2016 BAI Global Banking Innovation Awards! Those nominated for this award are non-bank financial service organizations that provide financial products or services directly to consumers.[i] NerdWallet stood out among many others with their free online Checking Account Tool that evaluates 14 inputs from users against more than …Read More

10 Ways to Fall into Savings this Autumn

 By Lauralynn Mangis, Online Marketing Specialist at Advantage Credit Counseling It’s back-to-school time and every family is looking for ways to cut costs and save a little extra money during the fall season. With the majority of everyone’s budgets being stretched thin due to the back-to-school necessities, it’s important to cut costs when and where you can. Here are some quick and easy ways to save money this Autumn: 1. …Read More

5 Myths About Credit Counseling

 By Steve Nitz NFCC member agencies provide financial education to millions of consumers each year. These appointments can be either in person, over the phone or online. However, there’s a good amount of the country’s population that’s afraid to schedule a counseling appointment due to a number of misconceptions. Here are five myths about credit counseling, debunked: I. Credit counseling will hurt your credit score Possibly the biggest misconception when …Read More

Credit Counselor Nitzsche: Once Helped, Now He Helps

By Cliff Goldstein Like a lot of young adults, Thomas Nitzsche was able to get approved for several credits cards with high spending limits when he was in his early 20s. And like a lot of people, Nitzsche soon found himself buried under a mountain of debt. “I always maintained good credit, but I was facing about $10,000 in combined debt,” Nitzsche says of that stressful period a decade ago. …Read More

Tips to Settle Credit Card Debt

By Melinda Opperman Settling debts is not easy. Many individuals ask us for tips to settle credit card debt. Settling your debts may be possible when a verifiable hardship exists, such as medical problems, unemployment, underemployment, divorce, or death of a family member. Recent credit card debt is more difficult to settle than other kinds of debt (medical debts in particular are generally a good candidate for settlement). The customer …Read More

How to Get Out of Debt

By Lauralynn Schueckler The recent recession affected the financial lives of people all over the country. The recession led to much higher rates of unemployment and underemployment. Because of this, many people needed to rely on credit cards to meet all of their financial obligations and pay for emergencies that arose. While this may have been a good short-term solution, many now find that they have an insurmountable amount of personal …Read More

Debt Consolidation vs. Debt Settlement vs. Debt Management Program

By Lauralynn Schueckler Debt consolidation typically involves taking out a lower interest loan to pay off multiple high interest secured, or unsecured debts such as credit cards. The lowest interest rate consolidation loan is generally secured against the borrower’s assets such as a home or a car. Because credit card debts have such high interest rates, even an unsecured consolidation loan can significantly reduce the borrower’s monthly payment. With so …Read More