Sentences with phrase «credit counseling groups»

The public perception is nonprofit credit counseling groups are providing sound financial advice to guide consumers into making safe decisions about how to handle their finances.

And they are one of the few, if nearly only credit counseling groups to do this.

And what makes bankruptcy different, mandatory reporting, something that credit counseling groups do not offer and the industry has not pushed for.

So credit counseling groups complain their client volumes are low, and so do the debt settlement folks.

Having founded and run a large credit counseling group myself I have some first - hand experience from inside the credit counseling industry.

For far too long credit counseling groups have remained silent about how their service actually performs.

According to preliminary numbers from a non-profit credit counseling group, about 5 percent of reverse mortgages (about 30,000 total) are delinquent now.

Recently there was a meeting of the National Foundation for Credit Counseling («NFCC») where the State of the Union was laid out for credit counseling groups attending.

While credit counseling groups are critical and speak about other debt solutions they are silent when it comes to the effectiveness and success rates of the DMP.

Yet credit counseling groups continue to slight debt settlement and not embrace it as a viable and possible solution at the detriment of the very consumers they purport to assist.

Antony Murigu is the president of the non-profit credit counseling group DebtWave Credit Counseling,...

Update: Richard A. Brennan was also involved in the massively failed credit counseling group Ameridebt as their in - house counsel.

So does a NFCC member or credit counseling group like Advantage Credit Counseling Service really offer best financial advice for the consumer?

According to the Advantage Credit Counseling Service website they are a proud member of the National Foundation for Credit Counseling (NFCC), a trade / member organization of many nonprofit credit counseling groups across the United States.

In general, credit counseling groups lie or mislead people about debt settlement, debt settlement companies tell partial truths about credit counseling, and both groups try to create unfounded fear about bankruptcy.

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.

Over the years the focus of credit counseling seems to have become to actually not provide the «best» financial information for consumers but to screen those who could enter a debt management program which generates income for credit counseling groups.

A tipster (send in your tips here) sent me an email outlining how a number of credit counseling groups are funding a campaign to try to «expose bad debt settlers.»

Flores reminds consumers to consider reaching out to a professional, non-profit credit counseling group for free personal finance advice.

The NFCC makes the argument they should be regulated differently than other debt relief providers, they cite the tough IRS codes they have to follow, but it was the choice of nonprofit credit counseling groups to elect to become nonprofit.

Please take note that you need to inform your credit counselling group about your plans to take up another form of credit, so that they can balance it with your existing cash flow and monthly repayments (if you have started paying to them).

Please take note that you need to inform your credit counselling group about your plans to take up another form of credit, so that they can balance it with your existing cash flow and monthly repayments (if you have started paying to them).

The question is, does a nonprofit charitable credit counseling group assist consumers to make the best financial decision for the consumer or for the credit counseling group?

Campbell said the credit counselling group sees many young people in their 20s who are struggling with debt racked up during their university years.

If you have inside knowledge of how a credit counseling program works, you will see the following court decision creates a real problem for all credit counseling groups.

The court found when a credit counseling group «contacted clients» creditors to try to negotiate «re-aging» of accounts, a process designed to improve credit scores by relabeling delinquent accounts as current» that created an issue of engaging in credit repair.

So, our listeners are familiar with Carizon because we've had Heather Cudmore, who's the Manager of the Credit Counselling group on the show and in fact she's going to be on again this month.

I had this idea for an article to look back to my early days in the debt relief world, back when I was running Myvesta, a non-profit credit counseling group, and show you examples of what I...

Any credit counseling group, or debt settlement group that tries to sell you their solution without completely understanding what your needs and obligations are moving forward, should be avoided; and,

This might be a credit counseling group, a debt settlement company, a bankruptcy attorney or in some cases, an unsecured debt consolidation loan company.

If you contact a credit counseling group, a trustworthy credit counseling group will strongly encourage you to talk to a bankruptcy attorney and a debt settlement company before you enroll.

If you talk to a debt settlement company and think that's the right solution for you, a reputable company will encourage you to talk to a credit counseling group and bankruptcy attorney before you signup.

After you talk to a credit counseling group come back and let me know what you are thinking of doing and let's talk about it.

A more modern creditor funding solution has been to untie funding from the collection of the payment and award the credit counseling group some arbitrary funding instead.

Non-profit credit counseling groups can provide budget advice and check the budgets of consumers facing financial pressure to provide suggestions.

The single monthly payment made by the consumer to the credit counseling group provides a benefit through simplifying making payments during a difficult time.

While some credit counseling groups in general make millions, today the average credit counseling group is battling tough headwinds in making ends meet.

The debt management plan (DMP) is a program created that allows the credit counseling group to collect one monthly payment from the consumer and divide it up amongst the creditors the person owes.

The main takeaway from that point is that while the credit counseling group may be the kindest, most skilled, and professionals of the highest caliber, the consumer still needs to filter the advice and messages they hear through a sales filter.

Credit counseling groups are educational charities but they make the majority of their income in providing services.

«In general, it's a good idea to have more than one revolving account,» says Thomas Nitzsche of the credit counseling group Money Management International.