Consumer Credit Counseling: NFCC shows key data in its survey report.

In ‘the 2013 Consumer Financial Literacy Survey’ report, both the National Foundation for Credit Counseling (NFCC) and the Network Branded Prepaid Card Association (NBPCA) have revealed some very interesting and insightful consumer data.

The survey was conducted by market research firm, Harris Interactive Inc. along with Public Relations Research, in which around 2,037 adults aged above 18 years participated during the period March 4-6 2013.

Here are some of the most crucial findings of the report that you may well go through.

Credit counseling and financial troubles

In case of these survey participants undergoing some sort of financial troubles including debt-related ones, then most of the adult consumers continued to say that they’d first approach their acquaintances for help (28%).

However, when inquired about the reason for nurturing such a notion and why they would not work with a professional non-profit credit counseling agency, then more than one in five respondents (22%) claimed that they are well-equipped enough to resolve their financial problems on their own, without necessitating any external help.

On other hand, there are more than one in four participants (27%) or above 63 million consumers who have said that if they needed help with respect to their financial obligations, then would certainly love to work with a non-profit consumer credit counseling agency to get them resolved.

How to find a legal credit counseling agency

If you want to work with a licensed credit counseling agency, then you can contact the NFCC for that. Their toll free contact number is 1.800.388.2227 and their official web address is www.nfcc.org.

However, you may also try out another pro-consumer advocacy organization, the Association of Independent Consumer Credit Counseling Agencies (AICCCA) to get proper credit counseling. You can speak to their representatives over the phone at 1.866.703.8787 and their official website is www.aiccca.org.

How credit counseling agencies may help you

Here is a brief explanation about the role played by the credit counseling agencies to straighten up your finances:

1. A good and efficient credit counseling agency can assist you to look closely at your spending behavior – the single most important factor to find out where your money actually goes. A credit counselor will analyze your monthly income, expenses, savings and debt obligations to suggest whether you need a debt management plan or file for bankruptcy to get rid of your financial problems.
2. Legitimate non-profit credit counseling agencies can provide you with complimentary counseling sessions. These sessions may last for an hour or so during which the counselors will review your debt situation and overall financial health without charging you a dime. However, before a credit counselor goes deeper into your financial condition he or she may ask you questions like ‘What has brought you to us today?’

Finally, you should stay away from those agencies that uses the ‘non-profit’ tag carelessly. Instead, what you must look for in a credit counseling agency is its official non-profit certification from the Internal Revenue Service (IRS) under Section 501(c)(3) of the Internal Revenue Code or IRC.