According to the largest network of non-profit credit counseling agencies, the National Foundation for Consumer Credit (NFCC), the number of Americans seeking credit counseling and entering debt management programs has risen sharply over the last ten years. NFCC's member agencies, which deal with a little over half of all the debt handled in credit counseling, assisted over 1.4 million Americans in 1998. About 504,000 of these consumers, who carried a debt of $2.3 billion, entered debt management programs. In 1988, by contrast, only 254,000 consumers entered debt management at NFCC agencies.
Credit Card,Credit Counseling
Consumer Federation of America
LARGE BANKS INCREASE CHARGES TO AMERICANS IN CREDIT COUNSELING