One Sector, One Voice: Working Together on Consumer Issues
|
|
- Abel Bridges
- 8 years ago
- Views:
Transcription
1 1 Remarks on the State of the Credit Counseling and Financial Education Sector by Susan C. Keating President and CEO National Foundation for Credit Counseling at the Association of Independent Consumer Credit Counseling Agencies Annual Meeting San Francisco, California March 31, 2014 One Sector, One Voice: Working Together on Consumer Issues I appreciate the opportunity to be here to talk to the AICCCA membership. I am so pleased to be able to spend time with you this afternoon. And I look forward to welcoming Dave Jones to our Leaders Conference next fall to speak to the NFCC membership. I last spoke at this gathering in As you well know, our country and the credit counseling sector have been through significant changes in the years since then. But one thing hasn t changed: Our two groups share common ground on helping consumers in financial distress and improving the level of financial literacy in this country. I m optimistic that we can continue to work together on initiatives that benefit our sector and the clients we serve. During the next few minutes, I d like to share with you my perspective on where the credit counseling sector stands and how the NFCC and our members are addressing some of the key challenges we face. I ll also talk about what I believe is the vital importance of working together as a sector and speaking with one voice on financial issues that affect consumers. I plan to save time to address your questions and get your feedback on what the NFCC is doing. State of the Sector The U.S. credit counseling and financial education sector is at a tipping point. The needs of the Main Street Americans we serve are changing and we must change with them. We must refocus our priorities and reengineer our services to ensure that the work we do remains relevant to consumers. In recent years, our focus has been on helping clients navigate one of the most difficult financial crises in the nation s history and its effects on their personal finances. Now, the crisis is easing and some economic indicators are on the upswing. We re seeing evidence that consumers are learning from their experiences during the economic recession. Many are looking for ways to keep from falling into the same circumstances again.
2 2 We re seeing several signs that the economy is improving. Unemployment is at a five-year low and bankruptcy filings are down to their lowest level since The national mortgage delinquency rate has dropped below four percent for the first time since And the credit card delinquency rate continues to remain much lower than historical norms. At the same time, we re still seeing news stories about people who feel left behind in what for them has been a lackluster recovery. Unemployment continues to hurt some more than others, including young adults, African Americans and those who ve been looking for work for more than six months. Median earnings for middle-class workers are down four percent since the recession ended. A third of working-age baby boomers have no retirement savings and another third have savings equal to or less than a year s salary. At a trillion dollars, student loan debt is now the second-largest form of consumer debt and a growing crisis with more than seven million borrowers in default. NFCC surveys and our members experiences give us more insight into what people are thinking and doing in this economic environment. Our data suggest that close to one in five Americans still use credit cards to fund a lifestyle their income can t support. A majority misunderstand the purpose of a budget, believing it s to restrict their spending. A majority identify themselves as having problems with both spending and saving. Many have misperceptions about credit counseling agencies that prevent them from reaching out for the help they need. And when they do seek help, some of the top reasons they cite are poor money management and lack of financial understanding. Yes, Americans are at a tipping point. Many are realizing that to move forward, they need a better understanding of and control over their finances even as they struggle to figure out how to achieve those goals. As consumers reposition themselves in this changing economic landscape, we need to reposition our sector to be relevant to their needs now and in the future. How? By refocusing our efforts so that we can not only help consumers navigate crisis situations, but also keep them from getting into crisis in the first place. That means providing the tools and education consumers need to manage their finances in today s economy and prepare for a better financial future particularly those still traveling a difficult road to recovery. And it means getting paid for providing those services. NFCC s Approach: Credit Solution Plan It became clear to us at NFCC as we observed the changing landscape that it was time to restructure the process of how our sector serves consumers. As we see it, the answer is to offer a
3 3 simple, effective set of solutions for clients with extensive debt in conjunction with quality financial counseling that enables them to achieve financial health over the long term. Our Credit Solution Plan is designed to accomplish that: simplify the process of putting eligible clients on repayment plans, expand and tailor solutions to meet the needs of today s consumers, and increase the successful completion of repayment plans by implementing agency best practices. It s designed to boost the demand for holistic financial counseling as Americans reposition in a changing economy. It s also designed to ensure the sustainable funding that enables agencies to provide essential client services. For more than two years now, we ve been working with our members, our financial partners and other sector stakeholders to develop this plan. We ve welcomed the participation of Dave Jones and Rick Bugado on the working groups we set up to address various aspects of the plan. Their contributions have been valuable. Crafting the Credit Solution Plan has been a daunting task and a long, complex process. But we believe our deliberately collaborative approach has been the right and necessary way to proceed. Our purpose has been to be thoughtful and make sure we have a strong plan before we implement it because what we do now will create the foundation on which we can build future enhancements and assure long-term success. Throughout this process, we ve worked to factor many different points of view, priorities and constraints into the equation to provide the greatest overall benefit. It has been a collaborative effort to fashion a sector-wide solution that centers on the ultimate outcome we want to achieve for consumers. So what have we been up to? Through our working groups, agencies and creditors have been developing ways to drive more customers to financial counseling, increase debt management plan conversion rates and improve DMP retention. Our groups have been working on a number of opportunities, including identifying best practices for improving processes. One example of best practice work is the ACH best practice survey, the results of which we shared with you last fall. Last month in Delaware, we had an important meeting of the NFCC Advisory Council member organizations at which we identified significant steps to move from the concept and analysis stage to implementation of the Credit Solution Plan. Again, Dave and Rick participated on behalf of AICCCA and its members. We also had strong representation from financial institutions, including nine of the top ten creditor organizations.
4 4 During the meeting, we reviewed the work we did to validate the new Credit Solution Plan platform with a representative sample of agencies both NFCC and AICCCA members and participating financial institutions. We finalized the new Credit Solution Plan Protocol (which outlines agency counseling best practices and repayment plan tiers) and discussed a timeframe for implementing the plan. We also reviewed our progress on developing sustainable funding to serve our clients. As a result of that meeting, we now have a consensus to move forward on implementation. Our next steps include discussions with stakeholders to finalize data flows and a design approach. That will lead to written user specifications that we can use to begin the system programming changes needed to put the plan into action. Our goal is to begin implementing the plan before the end of this year. Our plan rollout will involve careful coordination across agencies, financial institutions and solution providers to ensure a smooth and successful phased implementation. I believe that reengineering the core services our sector delivers is fundamental to our ability to serve our clients well. That is why nothing is more important for our sector right now than successfully implementing the Credit Solution Plan. Nothing will have a greater impact on our ability to provide the services that are most relevant to the needs of consumers today. And what we do now will lay the groundwork for services the sector may develop in the future, including the less-than-full-balance payment program AICCCA has been pursuing. So I encourage you to stay engaged in the effort to implement the Credit Solution Plan as we move forward. Your support is important to this effort. One Sector One Voice Many of you know that cooperation between our organizations to benefit consumers and our sector has many precedents. I ll mention just a few examples of NFCC initiatives we ve collaborated on with AICCCA and other sector stakeholders. Through our Debt Settlement Working Group, we did consumer research on debt repayment, consumer outreach and educational activities, and background work on a less-than-full-balance product. We also worked with the Federal Trade Commission as it fashioned its 2010 Telemarketing Sales Rule that provided significant consumer protections against predatory debt settlement practices. As a result of the NFCC and AICCA s collaboration on the NFCC Call to Action, a majority of the nation s credit card issuers agreed to provide additional relief to consumers struggling to
5 5 repay their debts. Creditors implemented the changes necessary to provide more affordable DMPs for consumers with insufficient income to qualify for a traditional plan. Our cooperative effort to improve operational efficiencies led to the Credit Counseling Resource Center, sponsored by MasterCard and offered through Peregrin. It now provides a central repository for information on creditor policies, processes and contacts to help agencies serve consumers better. It also houses a secure communications channel for creditor and agency communications. Today, Citibank, Bank of America, Chase and Wells Fargo are using it for their annual due diligence programs and other creditors are coming on board, resulting in resource savings for agencies Through our Balance Verification project, also part of our efforts to improve efficiencies, we ve improved the ability of agencies to obtain client balance verifications before debt management plan proposals are accepted. As a result, agency efficiency is increasing and proposal decline rates are decreasing. We at the NFCC believe strongly in the value of financial literacy for all Americans and our vision is to create a national culture of financial responsibility. That s the impetus behind the Credit Solution Plan and other initiatives you ve worked on with us. It s the vision we keep front and center as we continue to make progress on issues that matter to our sector and consumers in areas such as financial education, housing counseling, federal housing funding, consumer protection and student loans. It fuels our push to raise public awareness of financial responsibility through our national communication and education efforts and Sharpen Your Financial Focus, our new initiative to promote the need for sound money management. Yes, it s a pivotal time for consumers, for our respective organizations and member agencies, for the credit counseling and financial education sector. We re at a tipping point. That s why at the NFCC, we re repositioning to make needed changes, creating solutions and driving change for the future. We have the tools and talent within our organizations and across the sector to accomplish these things. Vitally important is that we coordinate our efforts and worth together. Our best opportunity for success is to come together as a sector and speak with one voice to consumers, to financial services companies, to government agencies about what we can do to help Americans get to a better place financially.
6 6 The key to our success is synergy. Many of you have heard me say, our collective efforts will produce much greater results than any individual endeavors. Henry Ford was an innovator who rethought traditional approaches and developed new strategies to fit the times. We can learn from something he said: Coming together is a beginning. Keeping together is progress. Working together is success. Together. One sector. One voice. That s the surest way for us to succeed. I m grateful for the opportunity to share with you today some of the work NFCC is doing on behalf of our sector and the consumers we serve. The financial counseling sector has been around for 60 years, and we want to make sure we have a sustainable service model and funding to support that model far into the future. We welcome your continued participation and, ideas in this important and needed effort. I truly believe we are on the right path to reach more Americans with the financial tools and solutions they need today. As we move forward, I hope you will join us and work with us. Together we can make it happen. I ve kept my remarks brief because I wanted to leave plenty of time to have a conversation with you. I m happy to address your questions and I d love to get your feedback on what I ve talked about this afternoon. So who has the first question?
2014 State of the Credit Counseling and Financial Education Sector. Delivered by Susan C. Keating. President and CEO
2014 State of the Credit Counseling and Financial Education Sector Delivered by Susan C. Keating President and CEO National Foundation for Credit Counseling 49 th Annual Leaders Conference Seattle, Washington
More information2015 State of the Financial Counseling and Education Sector. Susan C. Keating. President and CEO. National Foundation for Credit Counseling
2015 State of the Financial Counseling and Education Sector Susan C. Keating President and CEO National Foundation for Credit Counseling 50 th Annual Leaders Conference Indianapolis, Indiana September
More informationThe 2009 Consumer Financial Literacy Survey Final Report. The National Foundation for Credit Counseling
The 2009 Consumer Financial Literacy Survey Final Report Prepared For: The National Foundation for Credit Counseling Prepared By: Harris Interactive Inc. Public Relations Research Summary At this time
More informationForeclosure & Credit Recovery
Foreclosure & Credit Recovery Presented by Joy Thormodsgard, CEO Who We Are NOT & Who We Are Have You Heard or Seen Ads for Foreclosure, Debt Settlement, or Credit Recovery? Deep pockets for radio, television,
More informationProgram Overview. 595 Market Street, 16th Floor San Francisco, CA 94105 800.808.4327 www.balancepro.org
Program Overview 595 Market Street, 16th Floor San Francisco, CA 94105 800.808.4327 www.balancepro.org Our Financial Fitness Program In a tenuous economy where borrowers continue to struggle and the risks
More informationNFCC Kicking Into Action in Missouri - The New Challenge
FINAL Remarks of Susan C. Keating Interagency Consumer Complaint Conference Financial Education: What s New in Outreach and Education Kansas City, Missouri April 16, 2009 I m pleased to be here today along
More informationWhat is the difference between a Debt Settlement Plan
Debt Resource Guide N 2 What is the difference between a Debt Settlement Plan and Bankruptcy? CareOne Team Members 2 3 I m struggling with my debt. Do I have options? I don t want a one-size-fits-all solution.
More informationBaines & Ernst Guide to Debt Management Plans
Baines & Ernst Guide to Debt Management Plans Contents Introduction 1. Introduction 2. What is a Debt Management Plan? 3. How a Debt Management Plan works 4. Do you qualify for a Debt Management Plan?
More informationCounseling Your Borrowers to Avoid Default. A guide to helping your borrowers reduce delinquency and avoid default
Counseling Your Borrowers to Avoid Default A guide to helping your borrowers reduce delinquency and avoid default Table of Contents 1. Overview Definition of Default 2 Student Eligibility 2 Cohort Default
More informationSurviving a Layoff. A straight forward guide to making the right decisions while coping with a job loss.
Surviving a Layoff A straight forward guide to making the right decisions while coping with a job loss. It s not easy, but Apprisen has a great guide to help you get through your layoff Listen to the news
More informationConsumer Credit Counseling. Knowing Your Options A Briefing for Individuals Contemplating Bankruptcy
Consumer Credit Counseling Knowing Your Options A Briefing for Individuals Contemplating Bankruptcy Part 1 Overview You are contemplating bankruptcy and probably have a number of questions. Is bankruptcy
More informationCONSUMER CREDIT COUNSELING SERVICE OF SAN FRANCISCO
CONSUMER CREDIT COUNSELING SERVICE OF SAN FRANCISCO A N N U A L R E P O R T HELPING. COUNSELING. TRANSFORMING. Letter from the CEO/President 2013 was yet another record year for Consumer Credit Counseling
More informationIntermediate Counseling Module Plan for Success Script
Intermediate Counseling Module Plan for Success Script Slide 1: Title slide Slide 2: Prepare for successful repayment Borrowing money to pay for your education can greatly impact your quality of life today
More informationHow To Help A Homeowner Who Is At Risk Of Foreclosure
1 PRINCIPAL REDUCTION AND FORECLOSURE PREVENTION Preliminary Report, Findings and Recommendations from the IDT Seattle City Council March 26, 2014 IDT Scope of Work 2 Resolution 31495 directed IDT to explore
More informationEffective Workforce Development Starts with a Talent Audit
Effective Workforce Development Starts with a Talent Audit By Stacey Harris, VP Research September, 2012 Introduction In a recent survey of CEO s, one in four felt they were unable to pursue a market opportunity
More informationDEBT HOLE TRAPPED IN THE. Daddy, why are you coming home late again?
2015 TRAPPED IN THE DEBT HOLE Daddy, why are you coming home late again? Jonathan is a typical American consumer. He works hard to provide for his family and enjoy his time off, but he never seems to have
More informationRepayment Overview. A guide to repaying your federal student loans
Repayment Overview A guide to repaying your federal student loans Table of Contents A guide to repaying your federal student loans...2 Learning about available repayment plans...4 Standard Repayment Plan...4
More informationRun the CAP Money Course
Run the CAP Money Course money:course budget. save. spend. Prevention is better than a cure In a society where money has a profound impact on everyone s lives and the majority of people worry about their
More informationThe U.S. Department of Education (ED), with student loan default prevention and recovery services that save the government and taxpayers millions.
About American Student Assistance American Student Assistance (ASA) is a nonprofit, federally funded organization whose mission is to help college students and their families successfully manage higher
More informationA Plan Sponsor s Fiduciary Calling to Improve the Retirement Readiness of Plan Participants
LPL FINANCIAL A Plan Sponsor s Fiduciary Calling to Improve the Retirement Readiness of Plan Participants A White Paper Prepared by The Wagner Law Group On Behalf of LPL Financial Contents 2 Executive
More informationIMPORTANCE OF CREDIT HISTORY AND SUCCESSFUL SAVING
IMPORTANCE OF CREDIT HISTORY AND SUCCESSFUL SAVING From America Saves and Experian WHAT IS A CREDIT REPORT AND SCORE? A credit score is a three digit number that measures how likely you are to repay a
More informationBecoming Agile: a getting started guide for Agile management in Marketing and their partners in IT, Sales, Customer Service and other business teams.
Becoming Agile: a getting started guide for Agile management in Marketing and their partners in IT, Sales, Customer Service and other business teams. Agile for Business www.agilefluent.com Summary The
More information2014 Wells Fargo Millennial Study
2014 Wells Fargo Millennial Study Overview Table of contents Overview 1 Key findings 2 Background and methodology 7 The contents of this report are for information purposes only. They should not be construed
More informationBAINES & ERNST GUIDE TO DEBT MANAGEMENT PLANS
BAINES & ERNST GUIDE TO DEBT MANAGEMENT PLANS Contents 1. Introduction 2. What is a Debt Management Plan? 3. How a Debt Management Plan works 4. Do you qualify for a Debt Management Plan? 5. Other debt
More informationCALL DEBT. Talk to an Aussie Who Cares
A Complete complete Guide Guide to to Debt Relief Debt Relief Solutions in Australia in Australia CALL 1800 00 3328 DEBT Talk to an Aussie Who Cares Contents Introduction... 3 About Debt Rescue... 4 The
More informationManaging Your Finances During a Furlough
Managing Your Finances During a Furlough A straight forward guide to making the right decisions while coping with the reduction of income caused by a furlough. Managing Your Finances During a Furlough
More informationLegal Network News CALIFORNIA ADVOCATES FOR NURSING HOME REFORM
Legal Network News CALIFORNIA ADVOCATES FOR NURSING HOME REFORM The Reverse Mortgage Trap by Tim Millar, CFP Reverse mortgages have been getting a lot of attention as the number of baby boomers reaching
More informationHousehold Debt and Credit: Student Debt
Household Debt and Credit: Student Debt February 28, 2013 Donghoon Lee The views presented here are those of the author and do not necessarily reflect those of the Federal Reserve Bank of New York, or
More informationPension Plan Sustainability Guide
Pension Plan Sustainability Guide It is very important for you to read this Guide to understand the reasons why MEPP is exploring possible pension plan design changes for the future. The Management Employees
More informationSmall Business Owner Report Spring 2015
Letter from Robb Hilson We are pleased to share the spring 2015 Bank of America, a semiannual study that uncovers the concerns, aspirations and perspectives of small business owners around the country.
More informationRemarks by. Thomas J. Curry Comptroller of the Currency. National Asian American Coalition. San Diego, California.
Remarks by Thomas J. Curry Comptroller of the Currency National Asian American Coalition San Diego, California October 18, 2013 Good evening. It s a pleasure to be here at the 10 th Anniversary Economic
More informationImagine How It Would Feel Not To Worry About Debt. Primerica. Debt Resolution. Customized Debt Solutions
Imagine How It Would Feel Not To Worry About Debt Primerica Debt Resolution Customized Debt Solutions Are you struggling and feel overwhelmed by your personal debt situation? Do you want to get out of
More informationStrategies for Paying Off Debt
Strategies for Paying Off Debt This program is made possible by a grant from the FINRA Investor Education Foundation through Smart Investing@your library, a partnership with the American Library Association.
More informationFederal Student Loan Repayment
Federal Student Loan Repayment The Road to Zero Know your financial goals. Know what you owe. Know what time it is. Know your options. Select your plan. Manage your payments. AccessGroup.org Financial
More informationCustomer-centric default management Taking collections to the next level
Experience the commitment ISSUE PAPER Customer-centric default management Taking collections to the next level This issue paper describes how customer-centric default management can generate both short-term
More informationThe Impact Of Rising Student Debt On Alumni Engagement And Giving
The Impact Of Rising Student Debt On Alumni Engagement And Giving January 2015 Jonathan Sparling, American Student Assistance Agenda 2 1. National Trends 2. Institutional Data Insights 3. Suggestions for
More informationReverse Mortgages Overview
Reverse Mortgages Overview An Overview of Reverse Mortgages In 1987 President Ronald Reagan authorized the Department of Housing and Urban Development (HUD) to create the Home Equity Conversion Mortgage
More informationThe resources on Mapping Your Future can be categorized into four topics:
Products and Services Mapping Your Future is a national nonprofit organization providing career, college, financial aid, and money management information and services for students, families, and schools.
More informationA Debtor s Guide to the role of a PIP
A Debtor s Guide to the role of a A guide to the role of your professional advisor for a DSA or a PIA Insolvency Service of Ireland nseirbhís Dócmhainneachta na héirea n ISI Tackling problem debt together
More informationSettlement ==========SOLUTION S. Your Debt Your Way.com= SERV CE YOU CAN COUNT ON. (!/lliful (Ou& ({;tudtana PROGRAM
Settlement ==========SOLUTION S Your Debt Your Way.com= SERV CE YOU CAN COUNT ON (!/lliful (Ou& ({;tudtana PROGRAM TM INTRODUCTION There are too many families that living pay check to pay check during
More informationFrequently Asked Questions
Frequently Asked Questions On March 26, 2010, the Administration announced several enhancements to the existing Making Home Affordable Program (MHA) and the Federal Housing Administration (FHA) refinance
More informationMortgage Meltdown Is Every State Impacted?
Mortgage Meltdown Is Every State Impacted? Good morning and thank you for taking your valuable time to learn more about the current status of the mortgage lending industry. I am glad to have the opportunity
More informationWHAT BANKRUPTCY CAN T DO
A decision to file for bankruptcy should only be made after determining that bankruptcy is the best way to deal with your financial problems. This brochure cannot explain every aspect of the bankruptcy
More informationI Didn t Want To File For Bankruptcy
I Didn t Want To File For Bankruptcy I contemplated filing bankruptcy as my only option. Without your help I stood a real chance of losing my business, my home and the ability to provide for my family.
More informationWhat options are available? Ways to deal with debt.
What options are available? What options are available? There are a range of options available to help you to deal with your debt. Before deciding on any of the options please speak to a Debt Action NI
More informationResearch on Credit Counseling and Consumer Debt Relief SoluHons
Research on Credit Counseling and Consumer Debt Relief SoluHons Prof. Michael Staten Director, Take Charge America InsHtute Norton School of Family and Consumer Sciences University of Arizona statenm@email.arizona.edu
More informationFive Trends Impacting the Home Care Agency
Five Trends Impacting the Home Care Agency Introduction Technology has brought significant changes to the non- medical home care industry and its constituents. People of all ages including home care clients
More informationFTC Facts. For Consumers Federal Trade Commission. Living paycheck to paycheck? Worried about debt. Fiscal Fitness: Choosing a Credit Counselor
FTC Facts For Consumers Federal Trade Commission For The Consumer December 2005 Fiscal Fitness: Choosing a Credit Counselor Living paycheck to paycheck? Worried about debt collectors? Can t seem to develop
More informationIs Student Loan Debt The Next Financial Crisis?
Is Student Loan Debt The Next Financial Crisis? Tim Parker, provided by San Francisco Chronicle Wednesday, February 22, 2012 There's no doubt that we're all still a little sensitive when it comes to the
More informationEnjoy Retirement In Your Dream Home. Home Equity Conversion Mortgage for Purchase Guide
Enjoy Retirement In Your Dream Home Home Equity Conversion Mortgage for Purchase Guide At Towne, we recognize the unique financial needs of the senior community. A Home Equity Conversion Mortgage (HECM)
More informationReforming Florida Higher Education
Reforming Florida Higher Education A Report For Governor s Blue Ribbon Task Force On Higher Education Reform By Tom Auxter President, United Faculty of Florida (UFF) July 26, 2012 What does reform mean
More information2011 ANNUAL REPORT Fiscal Year 2010-2011
2011 ANNUAL REPORT Fiscal Year 2010-2011 Peter Laroche President & CEO Letter from Board Chair, Charlette Lindell Charlette Lindell CCCS Board Chair Another year has passed and the world of financial counseling
More informationHelp for Rhode Islanders in Housing Trouble
Help for Rhode Islanders in Housing Trouble An Update from Rhode Island Housing June 2009 Table of Contents: Getting Out of Mortgage Trouble... 2 Modification, Refinancing and Beyond... 3 Homeowner gets
More informationNovember 2014. Dear Fellow Members,
November 2014 Dear Fellow Members, Five years ago, executive leadership at Darden Restaurants, Inc. partnered with Multi Media Federal Credit Union to build and launch your credit union, which is dedicated
More information2015 Wells Fargo Retirement Study
2015 Wells Fargo Retirement Study Table of contents Overview 1 Key findings 2 Background and methodology 8 Harris Poll conducted the survey online of 1,993 affluent investors, ages 30 75 who have $250,000
More informationStudent Debt Being Smart about Student Loans
Insight. Education. Analysis. S e p t e m b e r 2 0 1 4 Student Debt Being Smart about Student Loans By Kevin Chambers During the 2008 crisis, total American household debt fell. The amount of money borrowed
More informationIn Home Sales Training Manual. Debt Settlement Program
In Home Sales Training Manual Debt Settlement Program Introduction to the industry The debt relief business is booming because of the rise in unemployment rates, the poor economy, and those who have found
More informationEvolving the Student Loan Guarantor: A Borrower-Centric Model
Evolving the Student Loan Guarantor: A Borrower-Centric Model Ensuring Student Loan Borrower s Consumer Rights The U.S. s federal student loan programs have reached a tipping point. For over 15 years,
More informationDebt Settlement Arrangement (DSA)
Debt Settlement Arrangement (DSA) A solution for people with unmanageable unsecured debt Insolvency Service of Ireland Seirbhís Dócmhainneachta na héireann ISI Tackling problem debt together Insolvency
More informationAVOIDING FORECLOSURE
AVOIDING FORECLOSURE Consolidated Credit 5701 West Sunrise Boulevard Fort Lauderdale, FL 33313 1-800-210-3481 www.consolidatedcredit.org Congratulations on taking this important step to a brighter financial
More information1 Identify your goal. What is it that you want to buy. 2 Gather information. What are the terms of the credit
Be a Savvy Credit User About 40% of credit card holders carry individual balances of less than $1,000, while about 15% individually carry total card balances of more than $10,000. Forty-eight percent of
More informationCiti U.S. Mortgage Lending Data and Servicing Foreclosure Prevention Efforts
Citi U.S. Mortgage Lending Data and Servicing Foreclosure Prevention Efforts Third Quarter 28 EXECUTIVE SUMMARY In February 28, we published our initial data report on Citi s U.S. mortgage lending businesses,
More informationDMP or IVA? Call Payplan on 0800 716 239. debt plans
debt plans Call Payplan on 0800 716 239 Our free helpline is open Monday to Friday 8am-9pm, and Saturday 9am-3pm. Find out more at www.payplan.com Please contact us if you d like this leaflet in Braille,
More informationFHA Servicing Compliance The Collingwood Group Conference Call Summary April 12, 2012
FHA Servicing Compliance The Collingwood Group Conference Call Summary April 12, 2012 Below is a summary of the April 12, 2012 mortgage industry call sponsored by The Collingwood Group. Questions may be
More informationLEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages
LEGAL & GENERAL HOME FINANCE Guide to Lifetime Mortgages A lifetime mortgage could give you the freedom to really enjoy your retirement. We re delighted you re finding out more about lifetime mortgages.
More informationHow to Stop and Avoid Foreclosure in Today's Market
How to Stop and Avoid Foreclosure in Today's Market This Guide Aims To Help You Navigate the foreclosure process [Type the company name] Discover all of your options [Pick the date] Find the solution or
More informationQuestions and Answers for Borrowers about the. Homeowner Affordability and Stability Plan
Questions and Answers for Borrowers about the Homeowner Affordability and Stability Plan Borrowers Who Are Current on Their Mortgage Are Asking: 1. What help is available for borrowers who stay current
More informationWelcoming Remarks by. Ben S. Bernanke. Chairman. Board of Governors of the Federal Reserve System. at the. conference on
For release on delivery 9:30 a.m. EST November 9, 2011 Welcoming Remarks by Ben S. Bernanke Chairman Board of Governors of the Federal Reserve System at the conference on Small Business and Entrepreneurship
More informationFor more in-depth information about Chapter 7 and how it can help you, please contact our
Introduction This Ebook gives you an overview of Chapter 7 bankruptcy and how it can help you eliminate debt. We hope that you find this Ebook useful and informative. For more in-depth information about
More informationDebt Freedom Plan. John and Mary Sample
Debt Freedom Plan For August 1, 2015 Prepared by Money Tree Software 2430 NW Professional Dr. Corvallis, OR 97330 541.754.3701 Cover page text, cover page logo, and report headers are customizable. This
More informationHow to Stop and Avoid Foreclosure in Today's Market
Solutions Home Buyers, Inc. 800-478-9213 ext. 700 SolutionsHomeBuyersFL.com How to Stop and Avoid Foreclosure in Today's Market This Guide Aims To Help You Navigate the foreclosure process [Type the company
More informationFinancial Planning and Your Small Business
Financial Planning and Your Small Business FAMILY PLANNING EDUCATION INVESTMENT RETIREMENT SAVING EQUITY FAMILY PLANNING EDUCATION INVESTMENT RETIREMENT SAVING EQUITY FAMILY PLANNING EDUCATION INVESTMENT
More informationThank you so much for having me. I m really excited to be here today.
Welcome to The Boomer Business Owner. My guest today is Ty Crandall. Ty is an honorary Baby Boomer, internationally known speaker, author, and business credit expert. With over 16 years of financial experience,
More informationChallenges and Success in Virtual Meeting
white paper Managing Online Meetings Keeping People Engaged Survey Results and Tactics for Success San Francisco Phone 415.343.2600 Fax 415.343.2608 88 Kearny, 12th floor San Francisco, CA 94108 Boston
More informationDebt Management Plan Client Handbook
Debt Management Plan Client Handbook What can I do to ensure success in my Debt Management Plan? 1. Relax! By enrolling in a debt management program, you ve taken a positive step towards reaching your
More informationTROUBLESHOOTING TIPS AND INFORMATION
TROUBLESHOOTING TIPS AND INFORMATION This document provides information about how to manage financial issues in a variety of areas and lists additional useful websites where you can obtain further assistance.
More informationLoan Modifications, Short Sales, and Foreclosures
Sponsored by Loan Modifications, Short Sales, and Foreclosures I can t make my house payments. What do you think I should do? How the Financial Advisor can counsel clients in an informed and strategic
More informationU.S. Department of Labor Advisory Council on Employee Welfare and Pension Plan Benefits
August 19, 2015 U.S. Department of Labor Advisory Council on Employee Welfare and Pension Plan Benefits Comments from Jeff Stein, VP of Operations at Nationwide on the topic of Model notices and education
More informationWE ARE MORTGAGE PLANNERS
WE ARE MORTGAGE PLANNERS Our Team has developed a special service called The Mortgage Concierge Program. Our application has been designed to simplify the mortgage process for you, while also helping you
More informationHOUSE COMMITTEE ON SMALL BUSINESS. Hearing on. SBA Microloan Program. June 14, 2007
HOUSE COMMITTEE ON SMALL BUSINESS Hearing on SBA Microloan Program June 14, 2007 Written Statement of Elaine L. Edgcomb, Director, FIELD The Aspen Institute Washington, D.C. Madam Chair Velazquez, Ranking
More informationDuring recession, education debt increased while other credit markets dropped
West Virginia How West Virginia Will Be Affected if Stafford Loan Interest Rates Double May 2012 More than 7 million students and their families rely on federally subsidized Stafford loans to help pay
More informationCountrywide Settlement FAQ s
Countrywide Settlement FAQ s 1. Does the settlement impact my Countrywide loan? The Attorney General s settlement with Countrywide provides for loan modifications for eligible borrowers who are 60 days
More informationPartnership Orientation
Partnership Orientation BALANCE is a comprehensive financial education and counseling service. We partner with financial institutions, employers and other organizations nationwide to support their goals:
More informationThe Benefits of Business Credit
The The Benefits of Business Credit Published by David Gass This booklet is for: Individuals seeking a business loan or lease Business owners with excellent or poor personal credit Entrepreneurs who would
More informationVolume 1 Taking the first steps
Volume 1 Taking the first steps Welcome to Your Money A guide to managing Take the first step in changing your financial future. Call InCharge Debt Solutions today at 1.877.544.7766 or visit www.incharge.org
More informationFinancial Planning and Your Small Business
Financial Planning and Your Small Business The Financial Planning Association (FPA ) is the leadership and advocacy organization connecting those who provide, support, and benefit from professional financial
More informationMaking Home Affordable Updated Detailed Program Description
Making Home Affordable Updated Detailed Program Description The deep contraction in the economy and in the housing market has created devastating consequences for homeowners and communities throughout
More informationLEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages
LEGAL & GENERAL HOME FINANCE Guide to Lifetime Mortgages A lifetime mortgage could give you the freedom to really enjoy your retirement. We re delighted you re finding out more about lifetime mortgages.
More informationA GROWING NEED. A CUSTOM SOLUTION. A COMPANY YOU CAN TRUST.
A GROWING NEED. A CUSTOM SOLUTION. A COMPANY YOU CAN TRUST. EVERYTHING IS COMING TOGETHER FOR YOU AND YOUR CUSTOMERS. THE HOME EQUITY CONVERSION MORTGAGE (HECM) LENDING PLATFORM from Reverse Mortgage Funding
More informationOf West Georgia / East Alabama, A program of The Family Center of Columbus, Inc.
Of West Georgia / East Alabama, A program of The Family Center of Columbus, Inc. Welcome! We understand that you are here because you are currently in bankruptcy proceedings and are required to complete
More informationStudent Loans Know Your Options
Student Loans Know Your Options Sam Hewitt Director, Political & Grassroots Advocacy, GRPP Samuel J. Hewitt Sam Hewitt is the director of political and grassroots advocacy at the American Speech-Language-Hearing
More information2014 MILLENNIALS RESEARCH STUDY
2014 MILLENNIALS RESEARCH STUDY In response to interest about the financial needs and challenges of younger employees, Voya Financial conducted an online survey among roughly 2000 young adults aged 20-34
More informationBuilding Good Credit and Improving Your Credit Score
Building Good Credit and Improving Your Credit Score US Consumer Debt Statistics August 2014 Consumer Debt = $11.74 Trillion 5% Increase over 2013 9% Delinquent Mortgages = $8.24 Trillion Avg. Mortgage
More informationYOUR FINANCES...YOUR FUTURE. Avoid deals that say no money down, pay next year. Refrain from emptying the Christmas Savings Fund!
November 2012 Staying Connected For the Alumni of the ECCB s Savings and Investment Course YOUR FINANCIAL End Year Resolutions Pay off the balance on the credit card. Avoid deals that say no money down,
More informationFRBSF ECONOMIC LETTER
FRBSF ECONOMIC LETTER 2012-25 August 20, 2012 Consumer Debt and the Economic Recovery BY JOHN KRAINER A key ingredient of an economic recovery is a pickup in household spending supported by increased consumer
More informationBORROWER IN DISTRESS: A Survey on the Impact of Private Student Loan Debt
May 2013 BORROWER IN DISTRESS: A Survey on the Impact of Private Student Loan Debt an issue brief by BORROWER IN DISTRESS Executive Summary For most, a college degree is a path to economic security. These
More informationState of North Carolina Department of Health and Human Services WORK SUPPORT STRATEGIES COMMUNICATION TOOLKIT
State of North Carolina Department of Health and Human Services WORK SUPPORT STRATEGIES COMMUNICATION TOOLKIT Table of Contents Welcome... 3 About Work Support Strategies... 3 NC FAST... 4 Audiences &
More informationConsumer Credit Counseling: Credit Card Issuers' Perspectives *
Consumer Credit Counseling: Credit Card Issuers' Perspectives * Mark Furletti September 2003 Summary: On Friday, May 23, 2003, the Payment Cards Center hosted a workshop led by collections managers from
More informationEarly Delinquency Intervention: Saving Your Home From Foreclosure
Early Delinquency Intervention: Saving Your Home From Foreclosure There are many circumstances in a homeowner s life that could result in missed mortgage payments: unexpected expenses, loss of overtime,
More informationProject Summary. St. Louis Alliance for Home Ownership Preservation
Project Summary St. Louis Alliance for Home Ownership Preservation In early 2008, Mayor Slay became concerned about the growing number of foreclosures foreclosures can hurt not only individual homeowners
More information