FCAA

The Financial Counseling Association of America

Debt Relief Options – Which Is Right for You?

Debt management, debt consolidation and debt settlement offer different ways to obtain debt relief.

Debt can come swiftly or grow gradually over time. When bills begin rolling in and payments become overwhelming, there are options available to help. Before jumping into a plan, make sure you know your options for debt relief and which one best fits your situation. 

While debt management, debt consolidation and debt settlement sound similar, each offers a distinct approach. The right choice can bring freedom and relief, while the wrong choice could harm your credit score and impact your finances for years to come.  [Read more…] about Debt Relief Options – Which Is Right for You?

FCAA Welcomes New Credit Counseling Agency Members

The Financial Counseling Association of America (FCAA) is pleased to announce the addition of three new member agencies. Money Management International, American Financial Solutions and InCharge Debt Solutions have joined the ranks of other leading non-profit credit counseling agencies (CCAs) that make up the organization.

“These outstanding agencies not only make the FCAA stronger but also bring new voices and ideas to the table,” said Lori Pollack, FCAA executive director. “Together, our members serve hundreds of thousands of consumers each year.” [Read more…] about FCAA Welcomes New Credit Counseling Agency Members

5 Tips to Get Financially Fit in 2024

Americans say their financial health is a top priority in 2024. Nearly 70% have financial regrets from 2023. Most plan to focus on building better financial fitness in the New Year. 

Getting fit and stronger in any area of life takes effort, especially if you’ve neglected it for a while. The Financial Counseling Association of America (FCAA) offers 5 tips to help you get financially fit in 2024.

[Read more…] about 5 Tips to Get Financially Fit in 2024

The Dangers of Credit Card Debt

When signing up for free airline miles or cash-back rewards, most people do not consider the potential dangers of credit card debt. Credit cards help build credit, protect against unauthorized charges, and offer useful benefits when used responsibly. However, if not managed well, credit cards can lead to a dangerous debt trap. 

How do credit cards work?

Credit cards let people borrow money and pay it back later. 

“For the most part, using credit cards and understanding how credit card companies work are pretty straightforward,” said Todd Ossenfort, Chief Operating Officer of Pioneer Credit Counseling. “Just remember, you are expected to pay back any money you spend when the monthly statement comes.”

People can choose to pay back the full amount each month or pay a minimum amount of the balance due.

[Read more…] about The Dangers of Credit Card Debt

3 Smart Strategies to Avoid Holiday Debt

The upcoming holiday season can bring a mixture of emotions for many people. When money is tight, joyful gatherings and gift exchanges can cause anxiety and stress. Follow these smart strategies to stay out of debt over the holidays.

Holiday giving and how people pay

People love to give around the holidays. The spirit of goodwill and generosity during the holidays is truly special. In 2023, nearly 85% of Americans plan to purchase gifts for friends and loved ones during the holidays. Many also plan to gather and share special foods or drinks at parties or festive meals.

[Read more…] about 3 Smart Strategies to Avoid Holiday Debt

Student Loan Repayments Restart This Month

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

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