National Foundation For Consumer Credit - NFCC

AAA

DEFINITION of 'National Foundation For Consumer Credit - NFCC'

A non-profit organization that seeks to educate consumers about credit and borrowing. One of the major services provided by the National Foundation for Consumer Credit is counseling for consumers who have taken on too much debt, with the goal of keeping consumers from declaring bankruptcy. Another way they assist is by helping consumers work out payment plans and reduce their overall debt load.

BREAKING DOWN 'National Foundation For Consumer Credit - NFCC'

The NFCC was founded in 1951. It provides services through member agencies and offices throughout the United States. Members must meet certain standards and accreditations, and services are confidential. Credit issuing institutions have been proponents of the counseling services offered by organizations such as the NFCC because it reduces the odds of a debtor declaring bankruptcy.

RELATED TERMS
  1. Credit Agency

    A for-profit company that collects information about individuals' ...
  2. Credit Counseling

    Personalized counseling services that provide guidance and support ...
  3. Credit Card

    A card issued by a financial company giving the holder an option ...
  4. Credit

    1. A contractual agreement in which a borrower receives something ...
  5. Bankruptcy

    A legal proceeding involving a person or business that is unable ...
  6. Debt/Equity Ratio

    1. A debt ratio used to measure a company's financial leverage. ...
Related Articles
  1. Insurance

    How To Find A Credit Counselor

    Paycheck to paycheck is no way to live. Learn how to find the help you need.
  2. Budgeting

    5 Signs That You're Living Beyond Your Means

    Learn what to watch for before you find yourself drowning in debt or filing for bankruptcy.
  3. Credit & Loans

    The History Of Consumer Credit Rights

    The Fair Credit Billing Act of 1974 gave consumers the power to dispute credit card charges.
  4. Mutual Funds & ETFs

    ETF Analysis: iShares MSCI Europe Financials

    Learn about the iShares MSCI Europe Financials fund, which invests in numerous European financial industries, such as banks, insurance and real estate.
  5. Credit & Loans

    Can Corporate Credit Cards Affect Your Credit?

    Corporate cards have a hidden downside. If the company fails to pay its bills, you could be liable for the amount and end up with a damaged credit rating.
  6. Stock Analysis

    The 4 Worst Financial Stocks of 2015

    Learn about the financial services sector and the types of companies within it. Understand the four worst performing financial stocks in 2015.
  7. Credit & Loans

    Your Credit Score: More Important Than You Know

    Credit scores affect key aspects of your personal and professional life. Knowing your score and managing your credit input can make a big difference.
  8. Credit & Loans

    What Qualifies as a Nonperforming Asset?

    A nonperforming asset is a loan made by a financial institution to a borrower who has failed to make any scheduled payments for at least 90 days.
  9. Credit & Loans

    How Does a Lease Work?

    A lease is an agreement between two parties where the lessor owns property that it allows the lessee to use pursuant to terms of the agreement.
  10. Credit & Loans

    Fixing Your Credit Score: A Do It Yourself Guide

    Following these five steps can go a long way toward repairing a low score.
RELATED FAQS
  1. How can I take a loan from my 401(k)?

    The majority of employers offer eligible employees the opportunity to save for retirement in a qualified plan through paycheck ... Read Full Answer >>
  2. What is the difference between a possessory and a non-possessory lien?

  3. Why is more interest paid over the life of a loan when it is capitalized?

    More interest is paid over the life of a loan when that interest is capitalized because the capitalized interest is added ... Read Full Answer >>
  4. What are the differences between Chapter 7 and Chapter 13 bankruptcy?

    In the United States, the most common kinds of personal bankruptcy filings are under Chapter 7 or Chapter 13 proceedings. ... Read Full Answer >>
  5. What is the difference between a lien and an encumbrance?

    A lien represents a monetary claim levied against property to secure payment of an obligation of the property owner, while ... Read Full Answer >>
  6. Can a creditor sue me for a delinquent account?

    If a credit card account becomes delinquent, the creditor can sue the debtor for the balance as soon as the delinquency occurs. ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Alligator Spread

    An unprofitable spread that occurs as a result of large commissions charged on the transaction, regardless of favorable market ...
  2. Tiger Cub Economies

    The four Southeast Asian economies of Indonesia, Malaysia, the Philippines and Thailand. Tiger cub economy indicates that ...
  3. Gorilla

    A company that dominates an industry without having a complete monopoly. A gorilla firm has large control of the pricing ...
  4. Elephants

    Slang for large institutions that have the funds to make high volumes trades. Due to the large volumes of stock that elephants ...
  5. Widow's Exemption

    In general terms, a widow's exemption refers to the amount that can be deducted from taxable income by a widow, thereby reducing ...
  6. Wedding Warrant

    A warrant that can only be exercised if the host asset, typically a bond or preferred stock, is surrendered. Until the call ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!