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2013 Press Releases Archive

ACCC RECEIVES $24,000 GRANT FROM ROCKLAND TRUST CHARITABLE FOUNDATION TO FINANCIAL EDUCATION

Boston, MA (November 19, 2013) — American Consumer Credit Counseling announced today that the national nonprofit organization has been awarded a $24,000 grant from the Rockland Trust Charitable Foundation. The $24,000 grant will supplement the costs of ACCC’s monthly distribution of their  “The Dollar Stretcher newsletter to over 24,000 clients in Massachusetts, a publication that offers helpful tips to consumers on how to live better for less. In addition, The Dollar Stretcher newsletter will feature articles written by Rockland Trust’s financial experts.

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MORE THAN 90 PERCENT OF YOUNG AMERICANS WOULD LOAN MONEY TO FAMILY IN NEED

Boston, MA (November 14, 2013) —  Ninety-three percent of young Americans would loan money to a family member in financial need, according to a recent online poll conducted by American Consumer Credit Counseling. The survey also found that 82 percent of respondents of all ages would lend money to a family member that has fallen on hard times with 66 percent willing to give money to a needy friend.

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AMERICAN CONSUMER CREDIT COUNSELING LAUNCHES 'CASH ONLY' HOLIDAY CHALLENGE

Boston, MA (November 5, 2013) —  As Black Friday and Cyber Monday near, national nonprofit American Consumer Credit Counseling is challenging consumers to stay in the black this holiday season. With the negative impact of the government shutdown on consumer confidence, retailers are expected to pull out all the stops to increase consumer spending. To avoid falling victim to a holiday debt hangover, ACCC is urging consumers to commit to a cash-only holiday, by utilizing its Holiday Budget Worksheet to help maintain budgeting and spending habits. You can follow staff member Kathleen Barrett’s journey on this cash only challenge at www.TalkingCentsBlog.com.

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NEW YEAR WILL NOT BRING GOOD TIDINGS FOR CONSUMERS WITH LOOMING DEBT CEILING

Boston, MA (October 29, 2013) —  Just last week 400,000 furloughed federal workers returned to work – and a paycheck – after Congress reached a temporary agreement that will keep the government running until January 15th. However, national nonprofit American Consumer Credit Counseling advises consumers to brace themselves for the looming financial threats that lie ahead should Congress not find a long-term solution to the debt crisis. 

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AMERICA TURNING CASHLESS AS 8 IN 10 CONSUMERS OPT FOR PLASTIC, ACCORDING TO AMERICAN CONSUMER CREDIT COUNSELING SURVEY

Boston, MA (October 16, 2013)—More American consumers are consistently choosing ‘plastic’ over ‘paper’ to shop for everyday purchases such as gas, meals and groceries according to a recent online survey conducted by American Consumer Credit Counseling.  The national nonprofit found that 80 percent of all respondents reported using their debit card for daily shopping expenses, while only 14 percent of respondents prefer to use cash. Of the 324 respondents, 100 percent aged 18 to 24 pay with their debit card over cash when purchasing daily necessities.

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ACCC RECEIVES $20,000 GRANT FROM NATIONAL COMMUNITY REINVESTMENT COALITION FOR HOUSING COUNSELING SERVICES

Boston, MA (September 16, 2013)—American Consumer Credit Counseling announced today that the national nonprofit organization has received a Housing Counseling grant of over $20,000 to provide Reverse Mortgage Counseling and Mortgage Delinquency/Default Counseling. The award comes from the National Community Reinvestment Coalition (NCRC), a national Housing and Urban Development (HUD) intermediary with more than 600 community-based affiliates.

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GROWING STUDENT LOAN DEBT FORCES NEARLY THREE-QUARTERS OF YOUNG AMERICANS TO MOVE BACK HOME AFTER GRADUATION 

Boston, MA (September 11, 2013)—As student loan debt quickly surpasses both auto and credit card debts nationwide, 71 percent of young Americans aged 18 to 24 are choosing to return home to live with their parents, according to a recent web survey by national nonprofit American Consumer Credit Counseling. Of those respondents aged 25 to 34, 53 percent stated that they were forced to move home after graduation due to looming student loan payments.

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MORE THAN 8 IN 10 AMERICANS PRIORITIZE PAYING DOWN DEBT RATHER THAN SAVING FOR THE FUTURE

Boston, MA (August 21, 2013)—Eighty-three percent of Americans admit that they would rather pay down their debts instead of save for their future, according to a recent online poll conducted by American Consumer Credit Counseling. The survey also found that 58 percent of consumers do not regularly deposit money in a savings account – a risky financial move that could land consumers further into debt. 

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ACCC EXPANDS PRESENCE AND FINANCIAL EDUCATION SERVICES TO PLYMOUTH COUNTY

Boston, MA (August 14, 2013)—American Consumer Credit Counseling (ACCC) announced today that the non-profit will expand its presence to Plymouth County to address the needs of consumers who are greatly impacted with financial issues and difficulties. ACCC’s new office will have certified credit counselors available Monday through Saturday to meet with consumers and provide them with assistance to secure a healthy financial future.

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AS STUDENT LOAN DEBT SURPASSES $1 TRILLION, AMERICAN CONSUMER CREDIT COUNSELING LAUNCHES ONLINE STUDENT LOAN DEBT FINANCIAL CENTER TO HELP YOUNG AMERICANS MANAGE FINANCES

Boston, MA (July 24, 2013)—Today, national nonprofit American Consumer Credit Counseling announced the launch of its online Student Debt Financial Education Center and the release of its College Financial Management Workbook.

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NEARLY HALF OF AMERICANS ADMIT THEY HAVE DECLINED A WEDDING INVITATION BECAUSE OF FINANCES

Boston, MA (July 23, 2013)—Forty-three percent of Americans confess they have declined a wedding invitation for financial reasons, according to a recent online poll conducted by American Consumer Credit Counseling. The ACCC poll also found that more than 92 percent of respondents would turn down an invitation to other events as well due to financial constraints (infographic).

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AMERICAN CONSUMER CREDIT COUNSELING LAUNCHES ONLINE VETERANS AND MILITARY PERSONNEL FINANCIAL EDUCATION CENTER TO HONOR MILITARY CONSUMER PROTECTION DAY

Boston, MA (July 17, 2013)—Today, on National Military Consumer Protection Day, national nonprofit American Consumer Credit Counseling announced the launch of its Veterans and Military Personnel Online Financial Education Center. The online center will provide former and current service members with information and tools to evaluate their current financial situations, assist in planning for their financial future, and create action plans to manage and overcome their financial challenges.

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AMERICAN CONSUMER CREDIT COUNSELING LAUNCHES INNOVATIVE NEW BANKRUPTCY PLATFORM TOOL FOR CONSUMERS

Boston, MA (July 16, 2013)—Today, national nonprofit American Consumer Credit Counseling announced the launch of its new, in-depth bankruptcy platform called CounselorConnect that helps consumers going through bankruptcy filings obtain the required bankruptcy certificate. The new platform also provides consumers with access to a personalized assessment action plan that includes information and resources to help consumers with their household budgets, financial guidelines, net worth calculations, and also includes a bankruptcy counselor’s recommendations for the filer.

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NEARLY THREE-QUARTERS OF AMERICANS ADMIT THEY ARE NOT FINANCIALLY PREPARED FOR RETIREMENT

Boston, MA (June 18, 2013)—More than 70 percent of Americans believe they are not financially ready for retirement, according to a recent online poll conducted by American Consumer Credit Counseling. The ACCC poll found that more than 7 in 10 consumers surveyed reported that they are not adequately prepared for retirement, while over 30 percent of respondents are not contributing at all to a retirement account.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.”

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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.

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American Consumer Credit Counseling (ACCC) is a nonprofit debt relief agency offering consolidated credit counseling and consumer debt solutions. If you have debt to consolidate, we can help you consolidate credit without taking a loan or paying high fees like some debt management companies charge. A fair, effective debt reduction service, our debt management program simplifies your payment responsibilities and often results in reduced interest rates from your creditors. As a leading national debt consolidation firm, ACCC has also been approved by the Department of Justice to provide credit counseling for bankruptcy both the pre-bankruptcy credit counseling certificate and the post-bankruptcy debtor education.

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