The Center will provide former and current military members with the information and tools to evaluate their current financial situations and create target plans to solve their financial problems.
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.
“Our Veterans and Military Personnel Financial Education Center will serve as a crucial resource to help those who have served our country prepare for a healthy financial future,” said Steve Trumble, president and CEO of Newton-based American Consumer Credit Counseling. “Veterans and military members face very distinctive financial challenges and this section of our website will provide extensive expertise in money management, budgeting, and financial literacy to ensure that these individuals and their families avoid many of the financial pitfalls they often face.”
Results from an ACCC online survey report that93 percent of all military homeowners have a mortgage, compared to only 64 of civilians. Military families are also more likely to have at least one credit card, with 91 percent in contrast to 69 percent of civilians. Additionally, post-deployment service members face new financial problems and challenges, including an unemployment rate over 20 percent for veterans between the ages of 18 and 24.
“The unique challenges of military life during both pre and post deployment including: frequent relocation, separation from family and friends, the stresses of deployment, and returning to limited employment opportunities, often lead to increased vulnerability to identity theft, failure to pay household expenses, heavy reliance on mortgage options, and significant credit card usage,” said Trumble.
The Federal Trade Commission and its partners have teamed up to sponsor Military Consumer Protection Day on July 17, 2013. The FTC aims to empower military and veteran communities with information as a means for preemptive protection against consumer fraud. Government and nonprofit organizations, such as ACCC, have come together to distribute resources to help military personnel avoid scams, invest wisely, manage money and credit, and deal with debt.
“The dynamics of supporting a household while on active duty can be especially complex, as even the process of paying routine bills can become a challenge.” continued Trumble. “Budgeting properly in preparation for the return home from military service can mark the difference in making ends meet or not.”
American Consumer Credit Counseling’s certified and experienced counselors offer various financial education, counseling and debt management services to help consumers achieve long-term financial health and stability. ACCC works closely with various military and veterans financial education programs such as the National Guards Yellow Ribbon program and the New England Center for Homeless Veterans.
American Consumer Credit Counseling’s certified and experienced counselors offer various financial education, counseling and debt management services to help consumers achieve long-term financial health and stability.
ACCC is a 501(c)3 organization, that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:
- For credit counseling, call 800-769-3571
- For bankruptcy counseling. call 866-826-6924
- For housing counseling, call 866-826-7180
- For more information on financial education workshops in New England, call 800-769-3571 x1980
- Or visit us online at ConsumerCredit.com
About American Consumer Credit Counseling
American Consumer Credit Counseling (ACCC) is a non-profit 501(c)(3) organization dedicated to empowering consumers to achieve financial health through education, counseling, and debt management. ACCC provides individuals with practical solutions for solving financial problems and recognizes that consumers’ financial difficulties are often not the result of poor spending habits, but more frequently from extenuating circumstances beyond their control. As one of the nation’s leading providers of financial education and credit counseling services, ACCC works with consumers to help them with the best plan of action to reduce their debt and regain financial stability. ACCC is accredited by the Better Business Bureau and holds an A+ rating. It is also a member of the Association of Independent Consumer Credit Counseling Agencies. For more information or to access free financial education resources log on to ConsumerCredit.com or visit TalkingCentsBlog.com.