MARMORA, N.J., May 6, 2020 /PRNewswire/ -- The Financial Counseling Association of America, the National Foundation for Credit Counseling and unaffiliated nonprofit credit counseling agencies are providing counseling and payment relief for people at risk of falling behind on credit card debt. The new program provides counseling and assistance related to temporary hardship programs that allow consumers to defer their monthly payments for up to 60 days.
"Nonprofit credit counseling agencies finally have more options to offer individuals faced with making difficult financial decisions regarding outstanding credit card debts," said FCAA Executive Director Lori Pollack.
Consumers assisted through this program can receive counseling at no cost, as well as no long-term commitment. After counseling, activated deferred payment programs will report as being paid on-time and will not lead to debt collection activity or late fees.
Nonprofit credit counseling agencies are also able to provide long-term solutions for people who face a prolonged period of inability to repay their credit card debt, student loan debt or mortgage payment.
For people already enrolled in a Debt Management Plan (DMP), options are available to reduce monthly debt payments for as long as necessary or to place payments on forbearance in more severe hardship situations.
To get help from an FCAA agency, call 800-450-1794 or visit www.fcaa.org.
About the FCAA
The FCAA is a 501 c3 nonprofit association whose members are 501c3 nonprofit credit counseling agencies. By providing financial education, budget counseling, housing counseling, student loan counseling, bankruptcy credit counseling and Debt Management Plans, licensed FCAA members and their certified credit counselors can offer a holistic approach to help financially distressed consumers.
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SOURCE Financial Counseling Association of America