Consumer debt management remains a large field with countless entrants, and while many are legitimate and helpful, others charge high fees for essentially the same amount and type of work. Consequently, cardholders typically do best with organizations that do not make a profit on their services.
National Foundation for Credit Counseling
The National Foundation for Credit Counseling (NFCC) offers a full range of credit-counseling tools to help reduce credit card debt. Their certified counselors advise consumers on managing money, offer specific solutions on how to reduce debt and emerge from current financial difficulties and work with clients to develop a personalized plan to avoid a similar situation going forward. For those with severe debt, they offer a Debt Management Plan (DMP) to work with individual creditors on monthly payment arrangements and interest-rate reductions. This national network has over 850 offices throughout the U.S.
nfcc.org
800-388-2227
Springboard Nonprofit Consumer Credit Management
Beginning with a household budget worksheet, Springboard recommends specific ways to reduce credit card debt. Their HUD housing, bankruptcy and credit card counselors work in tandem to fashion the best solution to reduce credit card debt. Springboard has 18 locations from Texas to California and can work nationwide by phone as well. They have been serving consumers since 1975.
credit.org
800-431-8456
InCharge Debt Solutions
InCharge offers full debt-reduction services. Consumers can get started immediately with online questionnaires and FAQs. They offer a full range of resources and feature a Spanish section on their website as well. Their DMP is similar to the others and provides a clear framework for repayment, while reducing or eliminating interest.
incharge.org
800-565-8953.
CreditGuard of America
CreditGuard of America offers a full range of credit counseling and debt-management solutions. Consumers can enroll online or call them directly . They work to eliminate debt within a four- to five-year period and suggest that monthly payments can be reduced from 35 to 50 percent. Their website offers a resources section and other useful information.
creditguard.org
800-500-6489
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