ACCC in the News
American Consumer Credit Counseling Provides Consumers with 5 Steps to Recover from Identity Theft
Boston, MA (May 21, 2013)— Identity theft is a major culprit in an ever increasing digital world; despite the growing threat many consumers do not know how to handle it, or even what identity theft is. According to the Federal Trade Commission identity theft occurs when someone steals your personal information and uses it without your permission. According to a recent study conducted by Javelin Strategy and Research, in 2012 there were 12.6 million victims of identity fraud in the US, which equates to one victim every three seconds.
When it Comes to Spending Men and Women Alike Prefer "Big Savers:, According to American Consumer Credit Counseling Survey
Boston, MA (May 21, 2013)—Men and women prefer ‘big savers’ over ‘big spenders,’ according to a recent survey conducted by American Consumer Credit Counseling that asked consumers to define the qualities of a fiscally attractive mate. Half of all survey respondents preferred ‘big savers,’ while only 12 percent identified themselves as being more attracted to ‘big spenders.’ Nearly eight in ten respondents preferred that their significant other hold the same fiscal views as them.
You Cosigned a Loan, They Defaulted. Now What?
(U.S. News and World Report) (May 7, 2013)— The advice for cosigning a loan for a family member or friend is always virtually the same: Don't do it, and if you do, understand the consequences if something goes wrong.
But what if you ignore the advice and cosign, and the loan goes south for reasons beyond your control?
Although there is no database that tracks cosigned loans, anecdotal evidence and some data suggest cosigning is common – and it isn't always parents cosigning for children. In 2010, LeaseTrader.com, a national car leasing marketplace, reported a 29 percent increase over the previous two years in the number of parents asking their kids to cosign a car loan for them.
During Money Smart Week American Consumer Credit Counseling Partners with Boston Public Library to Host Workshop for Teens
Boston, MA (April 25, 2013)—This Friday, American Consumer Credit Counseling in partnership with the Boston Public Library will host an interactive “Money Matters for Teens” workshop that will explore basic financial strategies, such as managing resources, “budget busters,” how to avoid overspending and how to create a budget. This workshop is a part of Money Smart Week, a national initiative to educate consumers on ways to manage their personal finances.
American Consumer Credit Counseling Survey finds Most Americans Lacking Education on Retirement and Investing
Boston, MA (April 24, 2013)—Many American consumers are struggling to understand some of the more complex financial education topics including identity theft and retirement according to a recent poll conducted by national nonprofit American Consumer Credit Counseling. The ACCC survey conducted during National Financial Literacy Month, found that nearly 8 in 10 consumers surveyed reported that they do not know how to recover from identity theft, while 80 percent are unclear about how to effectively optimize their retirement funds.
American Consumer Credit Counseling Sponsors Second Boston Reality Fair to Promote Healthy Financial Future For Local High School Students
Boston, MA (April 9, 2013)—On April 11th, American Consumer Credit Counseling will collaborate with the Treasurer’s Office and the Boston Public Schools Superintendent’s office, along with a coalition of Greater Boston financial planning and community organizations and other partners, to host the second annual Boston Reality Fair: Financial Tools for Life, a program for high school juniors and seniors. The Boston Reality Fair will offer interactive educational workshops and a Money Matters play sponsored by Cambridge Savings Bank to prepare students for sustainable financial stability throughout their lives.
Poll: Most Will Use Tax Refund To Pay Down Debt
(wbjournal.com) April 1, 2013 | Most Americans polled by the nonprofit group, American Consumer Credit Counseling (ACCC), will use this year's tax refund to pay down credit card debt, and results show there is some evidence that consumer confidence is increasing.
Survey: Tax refunds will go to pay down debt, boost savings
(BostonHerald.com) April 1, 2013 | Consumers concerned about their budgets will use this year’s tax refund to pay down debt and strengthen their savings, according to a recent survey conducted by American Consumer Credit Counseling.
Out of 251 consumers surveyed in the recent web poll, 45 percent said they will use their 2013 tax refund to pay down their credit card debt, while 26 percent will put the cash directly into their savings. Less than 1 percent of respondents will use the refund to open or contribute to a retirement account or pay down student loans.
The Hidden Horrors of Your Credit Report
(Boston, MA) March 5, 2013 | As National Consumer Protection Week kicks off in March, many consumers are reminded of some of the critical mistakes that can cause long term damage to their financial profile, the most common of which is credit reporting errors. A recent study released by the Federal Trade Commission earlier this year discovered that 26 percent of consumers suffer from material errors on at least one of their three credit reports – errors which often go unnoticed. Even more shocking, 5 percent of these consumers participating in the study moved into a different credit risk tier once the error on their credit report was corrected.
American Consumer Credit Counseling Survey Finds Most Household Finances Controlled by Women
(PRWEB) February 27, 2013 | Nearly 80 percent of women in relationships bear the responsibility of managing household finances – often with little help from their significant others, according to a survey conducted by national nonprofit American Consumer Credit Counseling.
Smart Spending: Eliminating Personal Loan Debts with Tax Refunds
February 12, 2013 | After the consuming task of submitting tax returns, the beneficial part arrives: payday. Instead of spending the return in a frivolous manner, taxpayers should utilize this annual check from the government to reduce their debts, including personal loans and credit cards. According to a recent TD Ameritrade survey, nearly half of Americans expect an income tax refund this year. Of those consumers that expect a tax refund, almost half plan to reduce their debts. Forty-three percent, to be more precise, plan to pay off debts with their refund.
Retirement Living: Debt holds many Boomers back
(USA TODAY) February 8,2013 | Baby Boomers, forget about retirement. We'll be working for the rest of our lives. OK, that may be an exaggeration, but not by much. We have not saved enough money. And worse, many of us will still be up to our eyeballs in debt when we do retire. We're just one medical emergency away from bankruptcy.
American Consumer Credit Counseling Hires Karen Niro as New Chief Operating Officer
(Boston, MA) January 25, 2013 | American Consumer Credit Counseling (ACCC) announced today that Karen Niro has been hired as Chief Operating Officer for the nonprofit organization.
“Karen’s vast experience in the field of financial services, coupled with her keen understanding of operational and administrative best practices, makes her the ideal candidate for this job,” said Steven Trumble, president and CEO of ACCC. “ We are thrilled to have Karen on board and are looking forward to having her as part of the ACCC team.”
5 Things to Know before filing for Bankruptcy
(Boston, MA) January 24, 2013 | Bankruptcy filings fell nearly 14 percent to fewer than 1.2 million in 2012, continuing a two-year trend that has been observed in all 50 states. But for many consumers still faced with insurmountable debt, an environment of continued economic uncertainty has forced them to consider bankruptcy as their only alternative.
“Too often all it takes is one bad break, like a job loss or costly medical procedure, to force someone to file for bankruptcy,” said Steve Trumble, President and CEO of Newton-based American Consumer Credit Counseling. “Most people who file for bankruptcy are facing threats of repossession and perhaps imminent foreclosure. Filing for bankruptcy is sometimes the only way they can stay in their homes.”
For those consumers who are contemplating bankruptcy as an option, there are several considerations that need to be made before filing.
Bankruptcies fell 14% in 2012, continuing 2-year decline
(Creditcards.com) | For the second year, consumer bankruptcy filings continued their downward spiral, and experts don't expect them to reverse course anytime soon.
"People have been forced to shed a lot of debt, either voluntarily or involuntarily," says Edward Boltz, president of the National Association of Consumer Bankruptcy Attorneys and a bankruptcy attorney in Durham, N.C.
Consumer debt in the Dayton region is among lowest in U.S.
(Dayton Daily News) January 18, 2013 | Consumers in the region have one of the lowest average debt burdens in the nation, and residents continue slowly to pay down their financial obligations, according to data from one of the largest credit-reporting agencies.
Falling debt levels among consumers in the Dayton metro area may mean they have more disposable income, which could provide a boost to consumer spending and the local economy, experts said.
ACCC's Matt Paradise on Fox 25 Morning News
ACCC’s Matt Paradise was recently on Fox 25 Morning News Talking about how you can have success with debt management.
Click here to watch the video.
American consumers with low credit scores struggling to recover from economic downturn
(BankCreditNews.com) January 7, 2013 | A recent survey by American Consumer Credit Counseling revealed that American consumers struggling to recover from the economic slowdown are being hindered by low credit scores that plague their financial lives.
Five Financial Lessons from 2012
(DepositAccounts.com) January 6, 2013 | You made it through 2012 – the good, the bad, the ugly. Exhale, reflect. What financial lessons did 2012 offer about retirement and saving? Plenty. The experts weigh in on what you should think long and hard about and use to your advantage in 2013.
Boston Business Journal:
ACCC has added Clete Thomas to its community education team
Plan ahead to get best Black Friday weekend deals
(USA TODAY) November 20, 2012 | Black Friday hasn't just moved through the following Monday and backward into Thanksgiving, it's also become as much of an online holiday as an in-store one.
The bulk of the buying still happens in retailers' brick-and-mortar locations, but some retail websites are competing as aggressively as stores and can offer better deals with less hassle.
Money Saving Mondays: Supermarket savings
(NECN) November 19, 2012 | ACCC provides ways to save at the supermarket this holiday season.
Click here to watch the video.
Grant Funds Financial Education Programs for Veterans, Military Families
(Framingham Patch) November 13,2012 | Newton-based American Consumer Credit Counseling has received a $7,850 grant from Natick-based Middlesex Community Savings Bank on Monday. The bank has two branches in Framingham.
The grant will fund a free, comprehensive financial education program called Connecting 4 Military Financial Health (C4MFH) that will serve military personnel, families, and veterans across Massachusetts.
5 Surprising Ways Your Credit Score Can Get Nicked
(NextAvenue.org) November 1, 2012 | People over 50 are especially prone to these dings, but there are ways to prevent and correct them.
According to conventional wisdom, young adults are the ones who most need to worry about their credit scores because they’re new to managing debt. But the truth is people over 50 face five financial situations that can really dent their credit scores.
The Price of Credit-Report Errors
(The Wall Street Journal) October 21, 2012 | Recent studies indicate that the credit reports lenders rely on to make decisions about consumers' credit worthiness frequently contain errors. Because this can raise the interest rates borrowers pay, it can be especially painful for retirees living on a fixed income.
American Consumer Credit Counseling Expands Community Education Team, Continues Commitment to Educating Massachusetts Consumers on Financial Management
(Boston, MA) October 17, 2012 | Leading national debt counseling non-profit promotes Clete Thomas to Community Outreach Coordinator, hosts 143 free financial education workshops throughout Commonwealth communities in the third quarter of 2012.
Don’t Allow This Halloween to Be a Financial Nightmare
(Boston, MA) October 16, 2012 | Between costumes, decorations, and party expenses, Halloween can stretch a tight budget to the breaking point – but it doesn’t have to. Here, American Consumer Credit Counseling shares five easy tips to help consumers save money on Halloween essentials.
American Consumer Credit Counseling and Boston Brain Tumor Society Raised over $500,000 at 5K Walk in Boston
(Boston, MA) October 14, 2012 | Leading non-profit debt management organization contributed to the fight against brain tumors with sponsorship and team fundraising
On Saturday October 13th, hundreds of walkers raised over $500,000 to support the National Brain Tumor Society at the 3rd Annual Boston Brain Tumor Walk. For the second consecutive year American Consumer Credit Counseling served as a leading sponsor of the event, which took place at Carson Beach in South Boston.
5 reasons to check your credit
(Credit.com) September 18, 2012 | If you've never seen your credit report, that's reason enough to request a copy. Knowing where you stand can save you time and money.
You've probably heard that it pays to stay on top of your credit, but how often does a person really need to pull his or her credit report.
Majority of Consumers have Found Reporting Errors on their Credit Report, According to American Consumer Credit Counseling Survey
(Boston, MA) September 5, 2012 | ACCC surveys of budget-conscious Americans finds that 87 percent of consumers have experienced some form of error on their credit report potentially hurting their ability to borrow.
Most Consumers Are Unsure Where to Find Affordable Financial Counseling, According to Recent Poll
(Boston, MA) August 20th, 2012 | American Consumer Credit Counseling offers low-cost financial guidance for all age groups and hosts dozens of free workshops every month.
Most Americans who are in need of credit counseling are at a loss at how to best obtain it, according to a new web poll. Of the 2,274 survey respondents, 47 percent said they are not seeking professional financial guidance because they don’t know where they can turn for trustworthy help. Another 24 percent said they don’t seek assistance because they don’t think they can afford it. The poll was conducted by the National Foundation for Credit Counseling in July.
Student Loan Debt Prevents Young Americans from Saving for Retirement and Pursuing Other Financial Goals
(Boston, MA) August 08, 2012 | ACCC surveys of budget-conscious Americans finds that consumers aged 25 to 32 are unable to purchase a home and save for retirement because of overwhelming student loan debt.
Bankruptcy Filings Fall Nationwide in Second Quarter of 2012
(Boston, MA) – August 6, 2012 — Though rates remain high, Massachusetts sees slight drop in claims in first half of 2012. Declaring bankruptcy can provide a fresh start, but often consumers are overwhelmed by the process.
American Consumer Credit Counseling Provides Free Education and Resources to Help Consumers Combat Inaccurate Information on Credit Reports
(Boston, MA) May 21st, 2012 | With 25 percent of credit reports containing erroneous information, consumers need to be aware of how to efficiently correct these mistakes.
ACCC Announces Five Tips for a Budget Friendly Summer Vacation
(Boston, MA) June 26, 2012 | Don’t let the slow economy impact your summer travel this year. Follow these five financially-savvy tips to ensure a debt-free vacation.
5 Credit Card Traps
(Forbes) June 19, 2012 | Katie Ross, education and development manager for American Consumer Credit Counseling highlights five credit card fine print traps that you don’t want to fall for.
American Consumer Credit Counseling Provides Free Budgeting Education as Part of state-sponsored money conference
(Boston, MA) May 21st, 2012 | Non-profit consumer debt counseling agency to provide critical education to consumers on budgeting tools and improving their financial habits.
Many Americans still held back by low credit scores
(Boston, MA) April 02, 2012 | Few can qualify for best rates on mortgages and car loans, according to ACCC poll. 2 in 5 surveyed have sub-prime credit. Large numbers don’t know their score at all.
American Consumer Credit Counseling Furthers Commitment to Strengthening Financial Education Among Massachusetts Consumers
(Boston, MA) March 30, 2012 | Leading national debt counseling non-profit hosts more than 178 financial education workshops throughout Commonwealth communities in the first quarter of 2012.
American Consumer Credit Counseling Launches Innovative Corporate Wellness Program
(Boston, MA) March 29, 2012 | Leading non-profit debt management organization encourages employees to increase awareness of positive health behaviors and make healthy lifestyle changes.
Budget Conscious Consumers to Use 2012 Refund to Improve Finances and Pay Off Debt
(Boston, MA) March 1, 2012 | Latest American Consumer Credit Counseling poll suggest economic concerns remain high and that many Americans will use their tax refund to lower debt and pay off bills.
American Consumer Credit Counseling to Exhibit at American Bankruptcy Institute Winter Forum at Suffolk University Law School
(Boston, MA) January 10, 2012 | American Consumer Credit Counseling (ACCC) announced today that the Newton-based non-profit will be attending the American Bankruptcy Institute’s Northeast Consumer Winter Forum, to be held at the Suffolk University Law School in Boston on Monday, January 16th.
