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 Counseling

    Credit counseling provides guidance and support for consumer ...
  2. Consumer Credit

    Consumer credit is a debt that someone incurs for the purpose ...
  3. Credit Review

    A credit review is a periodic assessment of an individual’s credit ...
  4. Credit Monitoring Service

    A system that monitors a consumer’s credit reports for signs ...
  5. Consumer Interest

    Consumer interest is any interest charge on personal loans, including ...
  6. Credit Reporting Agency

    A credit reporting agency is a business that maintains historical ...
Related Articles
  1. Personal Finance

    Time to Accept Credit Card Offers Again?

    How much you could get and whether to respond
  2. Taxes

    How To Survive Bankruptcy

    Bankruptcy is not the end of the world. You can survive it and come out on the other side more financially solid.
  3. Managing Wealth

    How to start your own private foundation

    Learn how to start your own private foundation. Private foundations can be time consuming and expensive, but many find the endeavor worthwhile.
  4. Taxes

    A Lifeline For Those Drowning In Debt

    Don't wait to be saved, find out where the lifesaving devices are and hang on tight!
  5. Personal Finance

    Credit And Debt Management

    America is addicted to debt. Learn how to manage your credit and keep debt from ruining your life.
  6. Insights

    $46 Billion Industry Of Philanthropy

    Philanthropic giving is not just about money - millions of volunteers donate their time to worthy causes every year.
  7. Taxes

    When To Declare Bankruptcy

    When is bankruptcy the best or only route– and when is it better to look at alternative solutions? And should you always hire a lawyer?
  8. Investing

    Buying a House After Bankruptcy? It Is Possible!

    Buying a house after bankruptcy is not impossible. It just takes time to repair your credit score and demonstrate you're a good risk for a mortgage.
RELATED FAQS
  1. Is it possible to have a credit limit that's too high?

    Avoid these pitfalls when working with high credit limits, and learn how to increase your credit score by increasing your ... Read Answer >>
  2. What are the Benefits of Credit Ratings?

    Learn how credit ratings are an important tool for borrowers. Typically, the better your credit rating, the better the loan ... Read Answer >>
Trading Center