What does Clark say about credit counseling?

I’ve searched this site, but can only find an article about NFCC. I’m not sure how current it is because it mentions 2017. Is that the only legit direction to go?

1 Like

Yes, we strongly and only recommend credit counseling through the National Foundation for Credit Counseling (NFCC.org). Here’s more information about their services:
https://clark.com/personal-finance-credit/national-foundation-for-credit-counseling-contact/

Hope this helps! :green_heart:

1 Like

Thank you!

Is it true that using debt consolidation has tax implications? I advised someone I know who is in a lot of debt to seek the help of NFCC, and they told me that the amount of debt that is reduced is taxable. Is this true?

Yes. Forgiven debt over $600 is taxable except for some specific exceptions e.g. bankruptcy