Association of Independent Consumer Credit Counseling Agencies (AICCCA)

About AICCCA

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Association of Independent Consumer Credit Counseling Agencies can connect you with experts on personal finance issues including college students and credit, bankruptcy alternatives, consumer debt, and many others. In addition, we are often able to locate a consumer to help personalize your story. We understand the nature of deadlines and will respond to your resource requests quickly and efficiently.

If you are on an immediate deadline call Ken Scott, Public Relations Representative, at 713-682-1382 or cell, 713-397-9091. Or you can e-mail the following information and we will arrange for you to speak with a qualified spokesperson who can provide background and comments for your story.
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News Releases

Date
Title

7/17/08    AICCCA Advises Consumers to Start Holiday Shopping Now

6/24/08    AICCCA 15th Annual Conference Offers Exclusive Opportunity to Hear Experts Address Critical Issues Facing the Consumer Credit Counseling Industry July 16 - 18, 2008 - J.W. Marriott Hotel, Washington D.C.

6/17/08    AICCCA Provides Three Step Plan to Survive an Economic Recession

5/21/08    AICCCA Says For Many Consumers Servicing Debt is a Larger Monthly Expense Than Gasoline

4/24/08    AICCCA Provides Tips to Adjust to Adjustable Rate Mortgages and Avoid Foreclosure

3/25/08    AICCCA Advises Save Now for Summer Vacation

3/13/08    AICCCA Advises Follow the Five Fs if You Owe Taxes

2/19/08    AICCCA Says Rather Than Worry About a National Recession Answer Four Questions to Determine a Personal Recession

1/25/08    AICCCA Advises Use Potential Tax Rebate To Improve Your Personal Finances, Period!

1/23/08    AICCCA Advises Consumers Avoid Refund Anticipation Loans

1/8/08    AICCCA 15th Mid-Winter Conference Offers Exclusive Opportunity to Hear Experts Address Issues Facing the Consumer Credit Counseling Industry

12/27/07    AICCCA Offers Help For the Post-Holiday Debt Blues

12/17/07    AICCCA Says Mortgage Crisis Will Drive Consumers to Credit Counseling

12/6/07    AICCCA Reminds Consumers to Keep Track of Holiday Spending

11/19/07    AICCCA Offers Black Friday and Cyber Monday Shopping Solutions to Fit Every Style

10/26/07    AICCCA Warns Against Budget-Busting Celebrations

10/4/07    AICCCA Offers Five Ways to Cut Holiday Expenses Without Being a Scrooge

9/17/07    AICCCA 3 Step Plan to Avoid Foreclosure

7/27/07    AICCCA Offers Consumers Back-to-School Shopping Tips

6/14/07    AICCCA - Learn Warning Signs and Seek Help Early to Avoid Bankruptcy

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Fact Sheet

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FAQs

What is Association of Independent Consumer Credit Counseling Agencies?

The Association of Independent Consumer Credit Counseling Agencies (AICCCA) is a nonprofit national membership organization, established to promote quality and consistent delivery of credit counseling services.

AICCCA fulfills its mission by establishing a consensus among consumer professionals regarding credit counseling service standards and professional industry conduct, as well as by establishing and maintaining strong relationships with credit management professionals and consumers.

What is a Debt Management Plan?

In addition to providing professional credit counseling and consumer education, any AICCCA member agency can enroll a consumer in a plan designed to eliminate unsecured debt. A Debt Management Plan (DMP) involves negotiating with creditors to reduce or eliminate interest and penalties while the consumer makes regular payments through the agency. The agency pays the consumer's creditors from the funds received and provides regular statements to the consumer showing the distribution of the funds received. While the DMP is in effect, the consumer should not incur additional credit card debt so that the plan can successfully work to eliminate current debt.

Will Being On a Debt Management Plan Affect My Credit?

Most consumers, who qualify for a DMP, have already experienced difficulty with credit. However, creditors recognize a sincere consumer effort to repay their debt and become rehabilitated through a responsible credit counseling agency. Some creditors do report to credit bureaus that a consumer has entered a DMP. This notation on a credit report is generally not seen as negative. One of the surest ways to rebuild credit is to gain control of family finances through successful completion of a DMP and educational help from a credit counseling agency. Missing payments to a creditor is far more damaging and expensive due to late penalties, increased interest rates, and fees.

Are Debt Management Plans Expensive?

AICCCA members are bound by standards that limit the charges for their services. Some states also have strict limitations. A responsible credit counseling agency can provide enrollment in a DMP at reasonable costs. Counseling is typically free and will be supplied whether or not a consumer is eligible for a DMP. Consumers should beware of any agency that requires high fees or asks for large contributions. Some non-AICCCA agencies ask for as much as $200 to $400 or more to enroll in a DMP.

How Long Does It Take To Complete a Debt Management Plan?

The length of a DMP depends upon the total amount of debt, the consumer's ability to repay, and the specific creditors involved. Some consumers need as much as 60 months to satisfy all of their unsecured debt. Others can do so in much less time. The key is to make a concerted effort to get your family back on the right financial track and to maintain control of your finances in the future. This takes resolve, time, and effort. Most consumers find that a DMP is a better solution than personal bankruptcy or continuing to live under a mountain of debt. With help, the behaviors that resulted in heavy debt can be corrected.