Definition of National Foundation for Credit (NFCC)

a nonprofit national organization based in Silver Spring, Maryland, created in 1951 to help the increasing number of consumers who have taken on too much debt. The NFCC has more than 150 members operating 1300 locations providing consumers with money management, budget, and wise-credit-use education workshops and counseling sessions. While counselors work with creditors to work out a payment plan, the NFCC does not provide credit or financial assistance. Most members do not charge for counseling; however some members charge a low fee for services such as debt repayment or counseling. No one is turned away due to the inability to pay.