Overwhelmed by Credit Card Debt? Your Credit Score is Key – Find Out Why

Overwhelmed by Credit Card Debt? Your Credit Score is Key – Find Out Why

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If you're facing a mountain of credit card debt or struggling with other unsecured loans, you're not alone. Many people find themselves in this situation as consumer debt levels continue to grow and understanding your FICO® Score is a crucial step towards regaining control. myFICO is a great resource for educational content and learning where you stand on your credit journey. But there are additional resources available.

The new partnership between the National Foundation for Credit Counseling (NFCC) and FICO is designed to help people exactly like you. It allows NFCC Certified Credit Counselors to share your FICO® Score during counseling sessions, providing the context and support you need to tackle your debt head-on.

Why is this so important when you're dealing with overwhelming debt?

• Pinpoint the Impact of Debt: Your credit score reflects how your debt management is affecting your financial health. A counselor can help you understand how your credit card balances and missed payments are impacting your score and what that means for your future.
• Create a Targeted Debt Management Plan: A counselor’s guidance allows you to create a debt management plan that addresses both your debt and your credit. This might involve enrolling in a Debt Management Plan (DMP), creating a budget, or exploring alternative debt management options.
• Understand the Connection Between Debt and Credit: An NFCC counselor can explain how managing your debt directly impacts your credit score, highlighting the importance of consistent on-time payments and reducing your credit utilization.
• Identify and Correct Errors: Sometimes, errors on your credit report contribute to a lower score. An NFCC counselor can help you identify and correct these errors, potentially improving your credit score and making it easier to manage your debt.
• Get Personalized Strategies for Rebuilding Credit: After addressing your debt, rebuilding your credit is essential. An NFCC counselor can provide personalized strategies to help you establish a positive credit history and improve your financial standing.
• Unbiased Guidance: NFCC member agencies are nonprofit organizations, meaning their focus is on your financial well-being. They will help you find the most suitable solutions for your unique situation.

Ready to tackle your debt?

If you're struggling with credit card debt or other unsecured loans, seeking guidance from an NFCC Certified Credit Counselor is a powerful step towards financial recovery. They can help you understand your credit score, create a sustainable DMP, and rebuild your financial future.

Find an NFCC Certified Credit Counselor near you and learn more about your credit and how they can help you regain control of your debt at nfcc.org. For more information visit Credit and Financial Counseling.