Debt Management

Student Loan Repayments Restart This Month

October 16, 2023

Prepare for your student loan bill and learn about options to help with student loan debt

After a three-year pause, federal student loan repayments started up again on October 1. For nearly 45 million borrowers, the added burden of student loan payments may make life a lot harder. Today, many Americans have difficulty managing their budgets because of housing expenses, rising prices, growing families and job changes.

In June, the Consumer Financial Protection Bureau warned that 1 in 5 student loan borrowers could struggle when repayments began. One in 13 borrowers is currently behind on payments. [Read more…] about Student Loan Repayments Restart This Month

Debt Repayment Options – One Size Fits All?

April 12, 2022

by Lori Pollack, Executive Director
Financial Counseling Association of America (FCAA)

Being in debt can be overwhelming. As you start to think about the best ways to pay off your debt know there are options; there is hope.

How much debt do you have?
Are you able to make your monthly payments on time, or do you wind up paying late fees? Or have you fallen behind and stopped making payments altogether? [Read more…] about Debt Repayment Options – One Size Fits All?

FCAA Announces its Free Debt Freedom Tool

February 28, 2022

It can never be too early in the year to get serious about your personal finances. The Financial Counseling Association of America (FCAA) has a no-charge new tool that can help you get your personal finances back on track in 2022!

The FCAA is pleased to announce the FCAA Debt Freedom Tool. This no fee calculator was developed with you in mind and designed to give you the truest sense financially of where you are and how to get where you want to be financially. [Read more…] about FCAA Announces its Free Debt Freedom Tool

We Aren’t Just for People in Trouble!

February 26, 2022

by Linda Jacob, AFC®, CFP®, Consumer Credit of Des Moines

If you are able to make your monthly payments on your credit cards, but the balances just don’t seem to
go anywhere, perhaps a Debt Management Plan (DMP) is right for you. You do not have to be late on
your payments to qualify for a DMP. But if you do qualify, you will be eligible for concessions from your
creditors such as lower interest rates. Depending upon your situation, you may also be making smaller
monthly payments than you currently are. [Read more…] about We Aren’t Just for People in Trouble!

Still Experiencing COVID-19 Related Financial Hardships?

February 25, 2022

Financial Counseling Association of America (FCAA) member credit counseling agencies offer debt relief programs to assist consumers experiencing financial hardships related to COVID-19 pandemic.

COVID-19 financial hardships still loom large. Without relief through government aid, consumers are likely relying more and more on credit cards to help manage household expenses. Added to that is the concern that it may become more difficult for consumers to pay the bills when deferments offered by credit cards issuers end.

Now more than ever, consumers need to be aware of their options when it comes to seeking help repaying their unsecured credit card debts. [Read more…] about Still Experiencing COVID-19 Related Financial Hardships?