AAA Fair Credit Foundation - Helping those in financial difficulty gain control of their finances, repay their debts, become fiscally educated and avoid bankruptcy.

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Frequently Asked Questions

• General
Who are you and what does your agency do?

What are the benefits of working with you?

What credentials and training does your agency have?

How are you funded?

Will you be contacting my employer to let them know I am working with you?

Do you offer other services about money management?

How can I receive information on my account?

How do I know if I have a debt problem?

• Debt Management Program (DMP)
What is a Debt Management Program (DMP)?

How is a Debt Management Program going to help me?

Will participating in a Debt Management Program affect my credit rating?

How much money can I save by participating in a DMP?

Why would my creditors choose to lower my monthly payments and interest rates?

What are the qualifications for a DMP?

How will my creditors know I am working with your agency?

I don't want my spouse to know I've charged up all of our credit cards. Do they need to be involved?

My debts were accumulated prior to my recent marriage. Does my spouse have to know about this, and must they be included on the DMP?

What debts can be included in a DMP?

Can I have only the bills that are causing me problems in a DMP?

Will I receive statements showing payments to my creditors?

Can I still use my credit cards once I enroll in a Debt Management Program?

Should I continue communicating with my creditors?

Will interest stop being charged on all of my accounts?

How long does it take for my creditors to post payments to my account?

Can I choose which debts to place on a DMP?

What accounts are considered unsecured debts?

What is the difference between participating in a DMP and filing bankruptcy?

How do you decide how much I need to pay each creditor?

Why can't I just negotiate with creditors on my own?

Can my creditors take legal action against me while I am participating in a DMP?

How long will it take to complete my DMP?

What happens if I drop out of the Debt Management Program?

When is my payment due?

What do I do if I am unable to make a payment or I missed a payment?

When are disbursements made to creditors?

What if an emergency rises and I cannot send my full payment one month?

Can I send additional payments to my creditors?

Will all creditors stop interest, waive late fees and bring my account current?

Why do some of my creditors require a higher payment than what I am currently paying myself?

I do not have any credit cards. I am behind on my mortgage and car loan. Can you help me with that?

I am behind on my mortgage. Is there anything you can do to help?

How many accounts can I put on the DMP?

Are monthly DMP administrative service fees tax-deductible?

• Debt Collection Practices
What is the Fair Debt Collection Practices Act (FDCPA)?

How do I handle Stubborn Creditors?

What if my account has been turned over to a collection agency?

The divorce judge assigned specific creditor for each of us to pay. I'm paying, but my ex isn't.
Will that information show up on my credit report, and will I still be responsible for the payment?

What is unsecured debt?

What is a "charge off?" If my debt has been "charged off," can a creditor pursue
collection?

My car was repossessed and resold. Am I liable for the difference between what the car sold for and what was owed?

What is a judgement?

My wages have been garnished. What does that mean?

• Credit Counseling
Will participating in Credit Counseling or a Debt Management Program destroy my credit rating?

What is a credit report?

Where can I get a copy of my credit report? How much does it cost?

Can you fix my credit report or clean it up?

How do I establish credit?

How long do negative credit items appear on my credit report?

What is a credit inquiry?

How do I improve my credit score?

How do I dispute credit report errors?

What exactly is a credit score?

Will my credit rating be protected by using your services?

• Bankruptcy
What happens if I file bankruptcy?

How does your program differ from Chapter 13 bankruptcy?

How long does a bankruptcy stay on my credit report and how does it affect my credit?

If I need legal advice on filing bankruptcy, and don't have the money to pay for an Attorney, what should I do?

Emergency Family Finances: Part 1

Frequently Asked Questions