Credit Counseling

When the U.S. Congress changed the nation’s bankruptcy laws in 2005, the law included a provision that all people seeking bankruptcy needed to attend a credit counseling session before being able to file.

The idea was to provide the consumer with an opportunity to see if their debt could be handled with a method short of declaring bankruptcy. Read More

When looking to take care of your debt with a credit counseling service, there are several issues that you might want to research before you choose a particularly agency. Read More

In the late 1980s and early 1990s, the number of credit and debt counseling agencies in America increased significantly. An antitrust lawsuit was filed against the NFCC, arguing that the presence of creditors on the NFCC’s Board of Directors constituted monopolistic practices. As a result of this litigation, creditors agreed to fund non-NFCC member agencies as well. Read More