Trustee Program does not operate in Alabama and North Carolina; in these states, Bankruptcy Administrators approve pre-bankruptcy credit counseling organizations and pre-discharge debtor education course providers. The following is a list of Bankruptcy Administrator approved providers in Alabama and North Carolina. Alabama Middle. North Carolina Middle. Alabama Northern. Trustee Program may issue these certificates for filers in all states and territories except for Alabama and North Carolina.
In Alabama and North Carolina, the bankruptcy administrator approves credit counseling and debtor education providers. Like many of the agencies we reviewed here, ACCC offers debt management; budget, bankruptcy, housing, and student loan counseling; and financial education to consumers nationwide.
The agency also offers a number of financial calculators, videos, and educational resources on specific topics, including budgeting, retirement planning , identity theft, information for veterans, and more. ACCC goes above and beyond in terms of offering transparency about its process and programs. An extensive FAQ page covers everything important to its clients, including pricing, interest rates, client rights and responsibilities, account transfers, confidentiality, and more.
ACCC does not charge a fee for credit counseling sessions. The agency may waive or reduce these fees for clients in financial hardship. Credit counseling services help individuals manage debt and plan their financial futures. The trusted relationship between credit counseling services and creditors allows individuals to get better interest rates for their unsecured debts and pay them off faster through a debt management plan DMP.
Credit counseling services can also help individuals with bankruptcy counseling, budgeting, student loan management, as well as general education about smart money management. Credit counseling typically starts with a financial review of the individual to get a picture of their debts and overall financial picture.
Credit counseling services can also help individuals improve their credit scores through budgeting and repayment plans and create a savings plan for future financial security.
Many people confuse credit counselors with debt relief agencies. Credit counseling services are typically nonprofit organizations that help clients managing money and debts and often offer educational materials and workshops. By contrast, debt settlement companies are for-profit businesses that can arrange settlements of debts with creditors or debt collectors for a fee.
Debt settlement companies, on the other hand, negotiate a debt settlement for their customers allowing them to pay off what they owe in one lump sum.
Almost all credit counseling services will perform an initial credit counseling session at no charge. The most typical service offered by credit counseling agencies is the DMP. Some agencies also offer paid and free educational classes. Most people think that credit counseling is only for people experiencing a financial crisis like bankruptcy or foreclosure. However, credit counseling can actually help people who are dealing with debt avoid such disasters and begin to save money and reduce their overall expenses.
We looked at nearly a dozen credit counseling services for this review. We made sure to choose agencies that were highly rated and well-established in the marketplace. We also wanted to find agencies that offered a variety of educational support for most of their services. Finally, we chose agencies that offer reasonable and competitive fees for their services as well as free basic counseling.
National Foundation for Credit Counseling. Better Business Bureau. Actively scan device characteristics for identification. Use precise geolocation data. Select personalised content. Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. We publish unbiased reviews; our opinions are our own and are not influenced by payments from advertisers.
Learn about our independent review process and partners in our advertiser disclosure. NFCC members are c 3 charities and must meet accreditation standards and offer financial literacy programs in addition to debt management. Counselors must meet training and certification requirements. It's also a good idea to look up a credit counseling agency's record with the Better Business Bureau.
Credit counseling agencies are licensed by their state, which often determines their maximum fees. Advantage Credit Counseling, for example, is licensed by the Pennsylvania Department of Banking and Securities, which regulates maximum fees. They don't charge anything for counseling. Other states have different guidelines, but they generally specify maximum setup and monthly fees.
Credit counseling agencies primarily help with unsecured debt, especially credit cards, but some have other programs, too. Some credit counseling agencies also offer HUD-approved housing counseling to help with home purchases or foreclosure prevention. They can help people assess their payment options for both federal and private student loans. Some credit counseling agencies also offer financial coaching for small-business owners, he says. AARP also offers a student loan counseling service.
She has been a financial journalist for more than 20 years. She received the personal finance Best in Business award from the Society of American Business Editors and Writers, and has written three books.
You are leaving AARP. Please return to AARP. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also manage your communication preferences by updating your account at anytime. You will be asked to register or log in. In the next 24 hours, you will receive an email to confirm your subscription to receive emails related to AARP volunteering. Once you confirm that subscription, you will regularly receive communications related to AARP volunteering.
In the meantime, please feel free to search for ways to make a difference in your community at www. Javascript must be enabled to use this site. Please enable Javascript in your browser and try again.
Now Reading:. Membership My Account.
0コメント