News & Press Releases

December 14, 2020 (Boston, MA) – December 14, 2020 – For many consumers, the COVID-19 pandemic has added strain on their everyday household budgets. This can be especially concerning during the already stress-inducing holiday season. For others, especially those who traditionally travel or ... Read More »

December 8, 2020 – By Zach Wichter Low mortgage interest rates have not helped all homeowners and homebuyers equally. Facing a demand spike, many lenders have tightened qualifications for new loans, making small mortgages more difficult to get than ever. That makes it all that much harder to get financing in ... Read More »

December 4, 2020 – By Lauren Ward American consumer debt has reached $14.35 trillion, including mortgages, car loans, credit cards and student loans, according to the New York Federal Reserve. Some Americans are unable to manage the thousands of dollars of debt that they have, forcing them to ... Read More »

November 19, 2020 – By John F. Wasik It’s been a brutal year with more than 180,000 Americans lost to COVID. For those who were economically impacted, there’s been some relief, but it’s been short lived. Under the CARES Act, certain rules were changed so that you could ... Read More »

November 19, 2020 (Boston, MA) – November 19, 2020 – The COVID-19 pandemic started as a health emergency and quickly became a financial threat as well. The pandemic has shown there is a lack of financial education among consumers. National non-profit American Consumer ... Read More »

November 18, 2020 – By Hanneh Gundersen While some may argue that you can’t put a price on a good education, many of today’s graduates face the grueling task of paying off student loans within a reasonable time frame. However, if you’re feeling overwhelmed by student loan ... Read More »

October 29, 2020 – By Dawn Papandrea When spring's COVID-19 shutdowns put millions out of work, lenders and credit card issuers stepped up with payment relief and other special programs for struggling Americans.

October 23, 2020 – By Terri Williams The pandemic has transformed our way of living, and while this fast-moving virus has caused major societal disruptions, it’s also resulted in personal changes as well.

Boston, MA – October 15, 2020 Americans are weary from the financial impact of the COVID-19 pandemic – with a significant number seeking various forms of relief from their credit card issuers, according to a new poll by American Consumer Credit Counseling.

October 12, 2020 – By Julia Glum Feeling generous and want to help out someone with no credit? It’s possible to add an authorized user to your credit card, but you should recognize the risks before you take them on.

October 2, 2020 – By Sarah Sharkey It's safe to say that 2020 has been a wild ride for nearly every American. Not only have we been dealing with a global pandemic, but also unprecedented job losses and wild price swings in financial markets. The economic chaos caused by COVID-19 has upended the financial plans of millions of people throughout the year.

Boston, MA – September 30, 2020 Consumers struggling to pay monthly bills as a result of the COVID-19 pandemic must be proactive and communicate regularly with lenders, credit card issuers, and other financial institutions, American Consumer Credit Counseling (ACCC) said today.

September 21, 2020 – By Rebecca Lake Borrowing money – whether it’s using a credit card or taking out a personal loan – means creating debt that you have to repay, usually with interest.

September 17, 2020 – By Nicole Dieker If you’ve ever received a phone call from a debt collector asking about a credit card debt that you barely remember, you might be wondering just how long debt collectors can pursue an old debt.

Boston, MA – September 17, 2020 With interest rates plunging to new lows, American Consumer Credit Counseling (ACCC) is advising more clients on mortgage refinancing as well as COVID-19 relief options made possible through the CARES Act.

September 16, 2020 – By Rachel Harman For those who have paid off their home or only have a small mortgage, a reverse mortgage may be a way to help cover retirement expenses.

Boston, MA – August 24, 2020 American Consumer Credit Counseling (ACCC) is advising more and more people who are considering a loan or hardship withdrawal from their 401(k) plan or other retirement savings to cope with the financial impact of the COVID-19 pandemic.

August 10, 2020 – By Terri Williams The COVID-19 pandemic has caused global financial uncertainty. However, the U.S. has been hit particularly hard.

Boston, MA – August 5, 2020 American Consumer Credit Counseling (ACCC) says Americans facing hardship from private student loans due to COVID-19 can still find relief – even though most private loans were left out of the federal CARES Act initiated in March.

July 17, 2020 – By Joe Dwinell Jittery consumers are dipping into their 401(k) and other retirement funds at a growing rate as the coronavirus pandemic continues to wound the economy, a new survey found.

Boston, MA – July 15, 2020 The COVID-19 pandemic and related economic crisis are forcing Americans to borrow against their retirement funds, and confidence in the U.S. economy is further declining among those who have been hardest hit, according to a new poll by American Consumer Credit Counseling.

Boston, MA – June 24, 2020 American Consumer Credit Counseling warned today that consumers are at increased risk of being scammed as economic fallout from the COVID-19 pandemic creates an environment ripe for financial predators.

June 18, 2020 – By Barry Bridges Student loan consolidation is the process of taking multiple outstanding loans and reorganizing them into a single loan, sometimes with a longer repayment period and therefore a lower monthly payment.

June 3, 2020 – By Brian O'Connell Mortgage rates are edging downward as the nation starts the long haul back to normalcy as the coronavirus pandemic abates.

June 2, 2020 – By Alexandria White If your kid often plays games on their smartphone or tablet, they may use your credit card to rack up in-app game purchases without your knowledge or approval.

Boston, MA – May 28, 2020 America’s small business owners face a long road to recovery as the U.S. economy begins reopening in all 50 states – and the challenge of balancing personal and business finances is creating unprecedented levels of stress. Budget and credit counselors from the nonprofit American Consumer Credit Counseling are spending more time helping small business owners prioritize their financial lives.

Boston, MA – May 4, 2020 Americans can double the impact of their stimulus checks with strategies for managing and maximizing a modest windfall, according to American Consumer Credit Counseling.

Boston, MA – April 27, 2020 The COVID-19 pandemic has triggered drastic changes within the IRS that could cause significant delays with American’s tax refunds – especially for those who file paper tax returns, national nonprofit American Consumer Credit Counseling warned today.

April 17, 2020 – By Latoya Irby The COVID-19 virus has ravaged both the world and our personal finances. Stay-at-home orders and the closure of non-essential businesses throughout the U.S. have led to pay cuts, job loss, and furloughs, leaving many consumers struggling to pay bills or stretch their money during the coronavirus.

April 6, 2020 – By Coryanne Hicks Your Credit Report is a detailed statement of your credit history. It includes your credit card accounts, loans, bill payment history and public records of any bankruptcies, liens or judgments against you.

March 31, 2020 – By Doug Banks Gov. Baker is expected to announce an extension of the state’s order that non-essential businesses keep their doors close to flatten the curve of the coronavirus pandemic.

March 31, 2020 – By Julia Glum As the coronavirus continues to wreak havoc on nearly every facet of the U.S. economy, concern is growing about what the pandemic may do to people’s credit scores.

Boston, MA – March 30, 2020 Americans are feeling the economic pain of the global COVID-19 pandemic, and their confidence in the U.S. economy has been badly shaken, according to a new poll by American Consumer Credit Counseling.

March 27, 2020 – By Erin Arvedlund If you need to, you can cut back on expenses during the coronavirus pandemic. Here are a few ideas on how to do that.

Boston MA – March 20, 2020 The global COVID-19 pandemic is creating worldwide economic peril. American households must act now to establish a financial emergency kit and improve readiness for fast-developing events, American Consumer Credit Counseling said today.

March 12, 2020 – By Abby Wendel In a perfect world, you could save for retirement and your child’s college tuition at the same time. But what if it comes down to a choice between the two? Which one should be the priority?

March 4, 2020 – By Dhara Singh At a time when U.S. household debt has reached a new pinnacle of $14.15 trillion, a separate analysis by American Consumer Credit Counseling (ACCC) found that American households seeking financial help are usually carrying more than $20,000 in credit card debt.

March 3, 2020 – By Rachel Hartman While stepping into retirement might mean walking away from a job, many Americans are dragging financial baggage into this next stage: debt. In recent years, the amount of debt retirees carry has grown, and the numbers are troubling from both a monetary and emotional standpoint.

Boston, MA – February 24, 2020 The margin for error is narrowing on American consumers’ credit profiles, with significant changes pending from Fair Isaac Corp., which produces the FICO credit score used by major lenders to rate tens of millions of consumers every year.

Boston, MA – February 11, 2020 American households struggling with debt and seeking financial counseling or budgeting help are carrying more than $20,000 in unsecured credit card balances on average, according to a consumer analysis by American Consumer Credit Counseling, Inc (ACCC).

February 5, 2020 – By Daniel Bortz No one sets out with a goal of accumulating debt, but that doesn’t change the fact that personal debt in the United States is at an all-time high. Adults in the U.S. aged 18 and older report having an average of $29,800 in personal debt, excluding home mortgages, according to Northwestern Mutual's 2019 Planning & Progress Study.

January 24, 2020 – By Barri Segal When it comes to credit scores, there is a lot of information to absorb. What are they? How do they affect you financially? What is a “good” score? What is the highest credit score available? Should everyone be striving to achieve a perfect score?

January 3, 2020 – By Ann Carrns The holiday decorations have been put away, the gift boxes recycled. Now it’s time to pay the cost of December’s gift and entertainment binge. Experts suggest everything from following a three-month repayment plan to selling used clothes and toys or temporarily reducing your 401(k) contributions.

January 2, 2020 – By Terri Williams Almost no one who takes out a loan plans to default on it. But as household debt in the U.S. continues to increase, defaults are inevitable. A defaulted loan won’t just go away. If you don’t resolve it, your lender will–and it won’t be pretty. Some lenders are willing to work with you, but it’s important to communicate early and often to resolve the issue amicably.