Debt management services are one of many services offered
by nonprofit credit counseling agencies or for - profit debt management companies.
A debt management program administered
by a nonprofit credit counseling agency should be able to hep you reduce your monthly payments, interest rates and pay off your credit card debt in three to five years.
If you've got a lot of credit card debt, in my view the best way for most people most of the time to pay it off is through a Debt Management Plan, either a do - it - yourself job or administered
by a nonprofit credit counseling agency.
A debt management plan is typically administered
by a nonprofit credit counseling organization.
Not exact matches
Another way to get a handle on your debt is
by seeking help from a reputable
nonprofit credit counselor.
Bern Lefson, a certified mentor at SCORE, the
nonprofit dedicated to helping small businesses that is supported
by the U.S. Small Business Administration, says there is a consistent trend of consumers carrying less cash and making more transactions with
credit cards.
Investors should begin their research
by checking out S&P's, Moody's Investors Service's and Fitch's online
credit ratings for cultural
nonprofit bonds.
HF invests in Latino economic growth
by supporting Latino
nonprofits and educating thousands of Latinos about
credit, capital, and homeownership.
A «Bank Transfer Day» campaign has been organized on Facebook to encourage consumers to switch to a
nonprofit credit union
by this Saturday.
The Calhouns were assisted in their early business endeavors
by small business loans overseen
by the
nonprofit Center for Community Self - Help, a community development lender,
credit union, and real estate developer that works with people «traditionally underserved
by conventional markets,» the organization says.
A measure that allows
nonprofit organizations in New York to accept
credit cards for the purchase of raffle tickets was signed into law
by the governor in December, and is now in effect.
In a response letter to Leahy dated May 12, 2016, President Conway - Turner pledged to remove the research foundation as administrator of IGPE and determine whether the
nonprofit was improperly managing any other campus programs «that require the payment of tuition
by students or involve
credit bearing courses»
by the end of the fiscal year.
A measure sponsored
by State Sen. Pat Gallivan and Assemblyman Robin Schimminger allows
nonprofit organizations in New York State to accept
credit cards for the purchase of raffle tickets.
He's been a key player in designing the state's Buffalo Billion and other economic development projects and is
credited with inventing the opaque
nonprofit management model that is now under scrutiny
by U.S. Attorney Preet Bharara.
Joined
by area politicians and community leaders, the parents, students and teachers rallied in support of the Education Investment Tax
Credit which would increase support for public and religious schools
by creating a tax incentive for individuals and corporations to donate to scholarship programs administered
by nonprofit educational organizations.
Lending Circles, a program managed
by the
nonprofit Mission Asset Fund, dramatically improved
credit scores for low - income residents of San Francisco, the studies found.
More than 6,500 CTE courses qualify for some «a-g»
credit, according to a review
by EdSource, a
nonprofit, nonpartisan education - research group in California.
The tax -
credit scholarship program is entirely funded
by voluntary donations from individuals and businesses to Student Scholarship Organizations (SSOs),
nonprofits that provide students with scholarships to attend private schools.
CSDC was the lead catalyst, architect and advocate for the establishment of a $ 25 million Congressional demonstration program in 2001, the forerunner to the
Credit Enhancement for Charter School Facilities Program administered by the U.S. Department of Education, which has provided several hundred million dollars in grants nationally for credit enhancement and revolving loan programs operated by nonprofit organizations and state age
Credit Enhancement for Charter School Facilities Program administered
by the U.S. Department of Education, which has provided several hundred million dollars in grants nationally for
credit enhancement and revolving loan programs operated by nonprofit organizations and state age
credit enhancement and revolving loan programs operated
by nonprofit organizations and state agencies.
Previous ESA laws have been funded through state treasuries, but policymakers could increase freedom for taxpayers
by funding ESAs through voluntary donations to
nonprofit scholarship organizations for which donors would receive tax
credits.
Tax -
credit scholarships allow individuals and businesses to reduce their state tax liability
by making a private donation to a
nonprofit organization that provides students scholarships to attend private schools of their choice.
Even though the
nonprofits are funded
by tax
credits, proponents argue that neo-vouchers wouldn't violate the state constitution's ban on taxpayer funds for religious institutions.
by: Diane Ravitch March 7, 2017 A
nonprofit parent - led group called Fund Education Now created a fact sheet about Florida's Corporate Tax
Credit plan, which was designed to evade the state constitution's explicit ban on using public money to fund religious or private education.
Tax -
credit scholarships are programs that help low - and middle - income K — 12 families access a better educational fit for their children
by allowing taxpayers to receive full or partial tax
credits when they donate to
nonprofits that provide private school scholarships.
The sad truth is many consumers still don't understand how their
credit scores work, according to a survey conducted
by the Consumer Federation of America, a
nonprofit association.
(B) «
Credit repair services organization» does not include: (i) Any person authorized to make loans or extensions of credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States; (ii) Any bank or savings and loan institution whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Savings Association Insurance Fund of the Federal Deposit Insurance Corporation; (iii) Any nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986; (iv) Any person licensed as a real estate broker by this state if the person is acting within the course and scope of that license; (v) Any person licensed to practice law in this state if the person renders services within the course and scope of his or her practice as an attorney; (vi) Any broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission if the broker - dealer is acting within the course and scope of those regulatory agencies; or (vii) Any consumer reporting agency as defined in the federal Fair Credit Reporting Act (15 U.S.C. 1681 - 1
Credit repair services organization» does not include: (i) Any person authorized to make loans or extensions of
credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States; (ii) Any bank or savings and loan institution whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Savings Association Insurance Fund of the Federal Deposit Insurance Corporation; (iii) Any nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986; (iv) Any person licensed as a real estate broker by this state if the person is acting within the course and scope of that license; (v) Any person licensed to practice law in this state if the person renders services within the course and scope of his or her practice as an attorney; (vi) Any broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission if the broker - dealer is acting within the course and scope of those regulatory agencies; or (vii) Any consumer reporting agency as defined in the federal Fair Credit Reporting Act (15 U.S.C. 1681 - 1
credit under the laws of this state or the United States who is subject to regulation and supervision
by this state or the United States; (ii) Any bank or savings and loan institution whose deposits or accounts are eligible for insurance
by the Federal Deposit Insurance Corporation or the Savings Association Insurance Fund of the Federal Deposit Insurance Corporation; (iii) Any
nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986; (iv) Any person licensed as a real estate broker
by this state if the person is acting within the course and scope of that license; (v) Any person licensed to practice law in this state if the person renders services within the course and scope of his or her practice as an attorney; (vi) Any broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission if the broker - dealer is acting within the course and scope of those regulatory agencies; or (vii) Any consumer reporting agency as defined in the federal Fair
Credit Reporting Act (15 U.S.C. 1681 - 1
Credit Reporting Act (15 U.S.C. 1681 - 1681t).
Credit unions typically offer the best rates for debt consolidation loans because they are
nonprofit organizations and are owned
by their members.
Nonprofit debt consolidation is debt relief services that are offered
by credit counseling companies to help debtors get out of debt and repair their damaged
credit.
If you find yourself in financial trouble, contact a member agency of the National Foundation for
Credit Counseling (NFCC), the nation's largest national nonprofit credit counseling network, by calling 1.800.388.2227 or visiting www.nfcc
Credit Counseling (NFCC), the nation's largest national
nonprofit credit counseling network, by calling 1.800.388.2227 or visiting www.nfcc
credit counseling network,
by calling 1.800.388.2227 or visiting www.nfcc.org1.
There are many
nonprofit counseling agencies listed online, but before you choose one, be sure it's approved
by the National Foundation for
Credit Counseling (NFCC), or at least endorsed
by the Better Business Bureau.
Nonprofit credit counselors approved
by the U.S. Department of Housing and Urban Development are often a better choice.
(1) The following shall be exempt from the
Credit Services Organization Act: (a) A person authorized to make loans or extensions of credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act, 12 U.S.C. 1701 et seq.; (b) A bank or savings and loan association whose deposit or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or a subsidiary of such a bank or savings and loan association; (c) A credit union doing business in this state; (d) A nonprofit organization exempt from taxation under section 501 (c)(3) of the Internal Revenue Code; (e) A person licensed as a real estate broker or salesperson under the Nebraska Real Estate License Act acting within the course and scope of that license; (f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 -
Credit Services Organization Act: (a) A person authorized to make loans or extensions of
credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act, 12 U.S.C. 1701 et seq.; (b) A bank or savings and loan association whose deposit or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or a subsidiary of such a bank or savings and loan association; (c) A credit union doing business in this state; (d) A nonprofit organization exempt from taxation under section 501 (c)(3) of the Internal Revenue Code; (e) A person licensed as a real estate broker or salesperson under the Nebraska Real Estate License Act acting within the course and scope of that license; (f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 -
credit under the laws of this state or the United States who is subject to regulation and supervision
by this state or the United States or a lender approved
by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act, 12 U.S.C. 1701 et seq.; (b) A bank or savings and loan association whose deposit or accounts are eligible for insurance
by the Federal Deposit Insurance Corporation or a subsidiary of such a bank or savings and loan association; (c) A
credit union doing business in this state; (d) A nonprofit organization exempt from taxation under section 501 (c)(3) of the Internal Revenue Code; (e) A person licensed as a real estate broker or salesperson under the Nebraska Real Estate License Act acting within the course and scope of that license; (f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 -
credit union doing business in this state; (d) A
nonprofit organization exempt from taxation under section 501 (c)(3) of the Internal Revenue Code; (e) A person licensed as a real estate broker or salesperson under the Nebraska Real Estate License Act acting within the course and scope of that license; (f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured
by liens on real property; (j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 - 1217.
(1) Before executing a contract or agreement with or receiving money or other valuable consideration from a buyer, a
credit services organization shall provide the buyer with a written statement containing: (a) A complete and detailed description of the services to be performed by the credit services organization for the buyer and the total cost of the services; (b) A statement explaining the buyer's right to proceed against the surety bond or surety account required by section 45 - 805; (c) The name and address of the surety company that issued the bond or the name and address of the depository and the trustee and the account number of the surety account; (d) A complete and accurate statement of the buyer's right to review any file on the buyer maintained by a consumer reporting agency as provided by the Fair Credit Reporting Act, 15 U.S.C. 1681 et seq.; (e) A statement that the buyer's file is available for review at no charge on request made to the consumer reporting agency within thirty days after the date of receipt of notice that credit has been denied and that the buyer's file is available for a minimal charge at any other time; (f) A complete and accurate statement of the buyer's right to dispute directly with the consumer reporting agency the completeness or accuracy of any item contained in a file on the buyer maintained by the consumer reporting agency; (g) A statement that accurate information can not be permanently removed from the files of a consumer reporting agency; (h) A complete and accurate statement of when consumer information becomes obsolete and of when consumer reporting agencies are prevented from issuing reports containing obsolete information; and (i) A complete and accurate statement of the availability of nonprofit credit counseling ser
credit services organization shall provide the buyer with a written statement containing: (a) A complete and detailed description of the services to be performed
by the
credit services organization for the buyer and the total cost of the services; (b) A statement explaining the buyer's right to proceed against the surety bond or surety account required by section 45 - 805; (c) The name and address of the surety company that issued the bond or the name and address of the depository and the trustee and the account number of the surety account; (d) A complete and accurate statement of the buyer's right to review any file on the buyer maintained by a consumer reporting agency as provided by the Fair Credit Reporting Act, 15 U.S.C. 1681 et seq.; (e) A statement that the buyer's file is available for review at no charge on request made to the consumer reporting agency within thirty days after the date of receipt of notice that credit has been denied and that the buyer's file is available for a minimal charge at any other time; (f) A complete and accurate statement of the buyer's right to dispute directly with the consumer reporting agency the completeness or accuracy of any item contained in a file on the buyer maintained by the consumer reporting agency; (g) A statement that accurate information can not be permanently removed from the files of a consumer reporting agency; (h) A complete and accurate statement of when consumer information becomes obsolete and of when consumer reporting agencies are prevented from issuing reports containing obsolete information; and (i) A complete and accurate statement of the availability of nonprofit credit counseling ser
credit services organization for the buyer and the total cost of the services; (b) A statement explaining the buyer's right to proceed against the surety bond or surety account required
by section 45 - 805; (c) The name and address of the surety company that issued the bond or the name and address of the depository and the trustee and the account number of the surety account; (d) A complete and accurate statement of the buyer's right to review any file on the buyer maintained
by a consumer reporting agency as provided
by the Fair
Credit Reporting Act, 15 U.S.C. 1681 et seq.; (e) A statement that the buyer's file is available for review at no charge on request made to the consumer reporting agency within thirty days after the date of receipt of notice that credit has been denied and that the buyer's file is available for a minimal charge at any other time; (f) A complete and accurate statement of the buyer's right to dispute directly with the consumer reporting agency the completeness or accuracy of any item contained in a file on the buyer maintained by the consumer reporting agency; (g) A statement that accurate information can not be permanently removed from the files of a consumer reporting agency; (h) A complete and accurate statement of when consumer information becomes obsolete and of when consumer reporting agencies are prevented from issuing reports containing obsolete information; and (i) A complete and accurate statement of the availability of nonprofit credit counseling ser
Credit Reporting Act, 15 U.S.C. 1681 et seq.; (e) A statement that the buyer's file is available for review at no charge on request made to the consumer reporting agency within thirty days after the date of receipt of notice that
credit has been denied and that the buyer's file is available for a minimal charge at any other time; (f) A complete and accurate statement of the buyer's right to dispute directly with the consumer reporting agency the completeness or accuracy of any item contained in a file on the buyer maintained by the consumer reporting agency; (g) A statement that accurate information can not be permanently removed from the files of a consumer reporting agency; (h) A complete and accurate statement of when consumer information becomes obsolete and of when consumer reporting agencies are prevented from issuing reports containing obsolete information; and (i) A complete and accurate statement of the availability of nonprofit credit counseling ser
credit has been denied and that the buyer's file is available for a minimal charge at any other time; (f) A complete and accurate statement of the buyer's right to dispute directly with the consumer reporting agency the completeness or accuracy of any item contained in a file on the buyer maintained
by the consumer reporting agency; (g) A statement that accurate information can not be permanently removed from the files of a consumer reporting agency; (h) A complete and accurate statement of when consumer information becomes obsolete and of when consumer reporting agencies are prevented from issuing reports containing obsolete information; and (i) A complete and accurate statement of the availability of
nonprofit credit counseling ser
credit counseling services.
In fact, some
credit counseling organizations — even some that claim
nonprofit status — may charge high fees or hide their fees
by pressuring people to make «voluntary» contributions that only cause more debt.
However, for people crushed
by unsecured debt — usually
credit cards bearing painful interest rates — Ramsey resolutely avoids ready remedies like consulting a
nonprofit credit counseling service, enrolling in a debt management program or seeking a lower - interest debt consolidation loan.
NerdWallet studied DMP data provided
by some of the largest national
nonprofit credit counselors, including fees, adjusted interest rates, and success rates.
SUGAR LAND, Texas, March 8, 2017 — A recent survey conducted
by Money Management International (MMI), the nation's largest
nonprofit credit counseling agency, reveals the positive impact financial coaching and education has had on the lives of the employees of an Oregon - based company.
Credit unions are
nonprofits that tend to be smaller in scale, and because they rely strongly on their members to keep business strong, you may be able to obtain financing for a mortgage or auto loan if you're declined
by another financial provider.
Moreover, in this line of cases, there already had been a decision that adopts a two - part test for bona fide tax - exempt
nonprofit credit counseling agencies, requiring such agencies to: (1) be recognized
by the IRS as being exempt from federal income taxation under section 501 (c)(3) of the Internal Revenue Code; and (2) actually operate as a bona fide
nonprofit organization.
In 1997, the
nonprofit Money Management
by Mail was formed through the alignment of six consumer
credit counseling agencies seeking to more effectively leverage their decades of combined experience and expertise.
Put simply, the door is now wide open for class action lawsuits targeting
credit counseling agencies — regardless of tax - exempt or
nonprofit status — based on nothing more than the agencies» provision of DMP plans (that are incidental to the education and counseling provided
by the agencies).
Despite a stated exemption for tax - exempt,
nonprofit organizations in CROA, the broad interpretation of the statute adopted
by the First Circuit may, unfortunately, lead to a wave of litigation against legitimate
nonprofit credit counseling agencies that provide invaluable assistance to consumers in financial distress.
«
Credit Services Organization» does not include any of the following: (i) a person authorized to make loans or extensions of credit under the laws of this State or the United States who is subject to regulation and supervision by this State or the United States, or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act (12 U.S.C. Section 1701 et seq.); (ii) a bank or savings and loan association whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation, or a subsidiary of such a bank or savings and loan association; (iii) a credit union doing business in this State; (iv) a nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986, [FN1] provided that such organization does not charge or receive any money or other valuable consideration prior to or upon the execution of a contract or other agreement between the buyer and the nonprofit organization; (v) a person licensed as a real estate broker by this state if the person is acting within the course and scope of that license; (vi) a person licensed to practice law in this State acting within the course and scope of the person's practice as an attorney; (vii) a broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (viii) a consumer reporting agency; and (ix) a residential mortgage loan broker or banker who is duly licensed under the Illinois Residential Mortgage License Act of
Credit Services Organization» does not include any of the following: (i) a person authorized to make loans or extensions of
credit under the laws of this State or the United States who is subject to regulation and supervision by this State or the United States, or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act (12 U.S.C. Section 1701 et seq.); (ii) a bank or savings and loan association whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation, or a subsidiary of such a bank or savings and loan association; (iii) a credit union doing business in this State; (iv) a nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986, [FN1] provided that such organization does not charge or receive any money or other valuable consideration prior to or upon the execution of a contract or other agreement between the buyer and the nonprofit organization; (v) a person licensed as a real estate broker by this state if the person is acting within the course and scope of that license; (vi) a person licensed to practice law in this State acting within the course and scope of the person's practice as an attorney; (vii) a broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (viii) a consumer reporting agency; and (ix) a residential mortgage loan broker or banker who is duly licensed under the Illinois Residential Mortgage License Act of
credit under the laws of this State or the United States who is subject to regulation and supervision
by this State or the United States, or a lender approved
by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act (12 U.S.C. Section 1701 et seq.); (ii) a bank or savings and loan association whose deposits or accounts are eligible for insurance
by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation, or a subsidiary of such a bank or savings and loan association; (iii) a
credit union doing business in this State; (iv) a nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986, [FN1] provided that such organization does not charge or receive any money or other valuable consideration prior to or upon the execution of a contract or other agreement between the buyer and the nonprofit organization; (v) a person licensed as a real estate broker by this state if the person is acting within the course and scope of that license; (vi) a person licensed to practice law in this State acting within the course and scope of the person's practice as an attorney; (vii) a broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (viii) a consumer reporting agency; and (ix) a residential mortgage loan broker or banker who is duly licensed under the Illinois Residential Mortgage License Act of
credit union doing business in this State; (iv) a
nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986, [FN1] provided that such organization does not charge or receive any money or other valuable consideration prior to or upon the execution of a contract or other agreement between the buyer and the
nonprofit organization; (v) a person licensed as a real estate broker
by this state if the person is acting within the course and scope of that license; (vi) a person licensed to practice law in this State acting within the course and scope of the person's practice as an attorney; (vii) a broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (viii) a consumer reporting agency; and (ix) a residential mortgage loan broker or banker who is duly licensed under the Illinois Residential Mortgage License Act of 1987.
[FN25] However, an important exemption from the definition of «
credit repair organization» in the CROA, and one that has indeed become crucial in the evolution of
credit repair organizations covered
by the act, relates to «any
nonprofit organization exempt from taxation under § 501 (c)(3) of title 26.»
To quote
nonprofit Consumers Union, «Consumers won the right to a free copy of their
credit reports nearly a decade ago
by bombarding Congress with hundreds of thousands of messages.»
If you can afford one of the less extreme options associated with debt consolidation, the Federal Trade Commission recommends you use a
credit counselor with a legitimate nonprofit organization accredited by the National Foundation for Credit Counseling (
credit counselor with a legitimate
nonprofit organization accredited
by the National Foundation for
Credit Counseling (
Credit Counseling (NFCC).
In the past year the North Carolina Attorney General has had to file suit against operations that pretended to be
nonprofit credit counseling groups
by placing local telephone book advertisements.
Talking Cents was created
by the staff of the
nonprofit organization, American Consumer
Credit Counseling (ACCC).
(1) Subject to paragraphs (2) and (3), and notwithstanding any other provision of this section, an individual may not be a debtor under this title unless such individual has, during the 180 - day period preceding the date of filing of the petition
by such individual, received from an approved
nonprofit budget and
credit counseling agency described in section 111 (a) an individual or group briefing (including a briefing conducted
by telephone or on the Internet) that outlined the opportunities for available
credit counseling and assisted such individual in performing a related budget analysis.
Debt management plans are offered
by nonprofit consumer
credit counseling services throughout the country.