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.