Examples: Applicable laws and regulations may include the Fair Credit Reporting Act, Fair Debt Collection Practices Act, Equal Credit Opportunity Act, Gramm-Leach Bliley Act, and other consumer credit legislation and regulations.
Counseling and education services offer the full range of options to address debt problems, and include information about:
negotiating directly with creditors on payment or interest rate relief;
changing buying habits;
strategies for saving money;
custom designed payment plans; and
advantages and challenges of all options, including payment plans and options for student loans, bankruptcy, DMPs, and self-administered payment plans.
NAThe organization provides Housing Counseling and Education Services only.
Education programs include information that addresses, as applicable:
affordable levels of debt and debt warning signs;
appropriate use of credit and alternatives to credit use;
financial implications of student loan modification actions;
types, sources, and costs of credit and loans;
solving credit problems;
obtaining and understanding credit reports;
re-establishing credit; and
alternatives to bankruptcy.
Clients are educated about the advantages of developing a budget, including how to:
establish short and long-term financial goals and how to achieve them;
calculate gross and net monthly income; and
identify and classify monthly expenses as fixed, variable, or periodic.
Money-management education includes information about:
how to maintain adequate financial records;
making decisions about purchases based on wants and needs;
the value of insurance coverage; and
saving for emergencies, periodic expenses, and long-term goals.
The organization provides, either directly or through contractual arrangements:
counseling and education programs to a wide range of groups through various mediums, such as online technology, in educational settings, in public settings, and in the potential service area; and
information about its services to potential referral sources, such as employee assistance programs and social service organizations.
Examples: Audiences can include high schools, trade schools, adult education programs, colleges and universities, civic organizations, religious organizations, and the military, if located in the area.