Consumer Information
Where Can I Get Help?
When the righteous cry for help, the Lord hears, and rescues them from all their troubles.
– Psalm 34:17
The less financially savvy you are, the more vulnerable you are to being taken advantage of or falling victim to financial scams. Not everything you read is true, so it’s important to use reputable sources of information and practice some healthy skepticism if something sounds too good to be true.
– Unknown
Resources for Consumer Assistance
The way of a fool is right in his own eyes, but a wise man is he who listens to counsel.
– Proverbs 12:15
“You’re here. Let’s look forward.”
– Jeanette Pavini
Consumer Credit & Debt Management
National Foundation for Credit Counseling
Since 1951, the National Foundation for Credit Counseling (NFCC®) has helped millions of people lead a more financially fit life. As the largest and longest-serving nonprofit financial counseling organization in the U.S., our mission is to help all Americans gain control over their finances.
The National Foundation for Credit Counseling
800-388-2227
Debtors Anonymous
In D.A. you can find a new way of living that offers recovery from compulsive debting and hope for a healthier, happier, more prosperous life.
Getting Started | Debtors Anonymous
How Credit Counseling Impacts Behaviors
- Increased awareness of and attention to household finances
- Increased financial knowledge and more informed financial decisions
- Increased accountability and support regarding financial decisions
- Structural changes that alter the composition or cost of debt
– Steven Roll/Stephanie Moulton
Advice on Choosing Debt-Counselors
- Check with the Better Business Bureau or with your state consumer protection agency
- Check into the fees: non-profit should provide free advice and charge only a minimal fee for debt management plan
- Be wary of anyone promising to improve your credit
- Be wary of anyone dispensing legal advice who is not an attorney
- Be aware that not all faith-based debt counseling are biblical and may have hidden agendas
- Ask for references of past clients and professional contacts who can vouch for honesty
- Select a member of the Association of Independent Consumer Credit
– LaRita Heet creditcard.com
Barriers to Seeking Counseling
“If you had the flu, you would seek help from a doctor.”
Asking for help is hard. My preferred route, in a time of struggle, is to bear down and pretend everything’s fine, isolate, throw myself a string of silent pity parties, and then finally fall apart to whoever is unfortunate enough to ask me how I’m doing.
I’m certain I’m not alone in this unhealthy pattern.
There’s an attractive, but false, sense of righteousness in isolationism: I’ll suffer silently so that I don’t bring anyone else down or bother God with my whining. But in doing this, we’re actually missing God’s design for our need.
– Aubrey Hoeppner
Federal Trade Commission
The FTC shares authority with the CFPB to enforce the consumer protection laws with respect to non-bank financial institutions.
Consumer Protection Laws & Regulations
The Federal Trade Commission
The FTC enforces federal antitrust and consumer protection laws by investigating complaints against individual companies initiated by consumers, businesses, congressional inquiries, or reports in the media. The commission seeks to ensure that the nation’s markets function competitively by eliminating practices deemed unfair or deceptive. ftc.gov
The Bureau of Consumer Protection
The FTC’s Bureau of Consumer Protection stops unfair, deceptive and fraudulent business practices by collecting complaints and conducting investigations, suing companies and people that break the law, developing rules to maintain a fair marketplace, and educating consumers and businesses about their rights and responsibilities.
The Consumer Protection Branch – US Department of Justice
The Consumer Protection Branch (CPB) is responsible for protecting the health, safety, and economic security of the American consumer. The CPB handles a wide variety of criminal and civil cases, including: fraudulent business opportunity, debt relief, lottery, mass-mailing and telemarketing schemes. justice.gov
10 Federal Acts Created
to Protect Consumers
Consumer Protection Act – the practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace. Such laws are intended to prevent businesses from engaging in fraud or specified unfair practices in order to gain an advantage over competitors or to mislead consumers.
Federal Trade Commission Act – was designed for business reform. Congress passed this Act with the hopes of protecting consumers against methods of deception in advertisement, forcing the business to be upfront and truthful about items being sold.
Truth in Lending Act – designed to promote the informed use of consumer credit, by requiring disclosures about its terms and cost to standardize the manner in which costs associated with borrowing are calculated and disclosed.
Home Ownership & Equity Protection Act – an amendment to the Truth in Lending Act (TILA) to address abusive practices in refinances and closed-end home equity loans with high interest rates or high fees.
Consumer Leasing Act – passed to assure that meaningful and accurate disclosure of lease terms is provided to consumers before entering into a contract. It applies to consumer leases of personal property.
Fair Debt Collection Practices Act – An act to amend the Consumer Credit Protection Act to prohibit abusive practices by debt collectors.
Fair Credit Reporting Act – requires insured banks to maintain certain records and that certain transactions in U.S. currency be reported to the Department of the Treasury.
Equal Credit Opportunity Act – prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because you get public assistance.
Credit Repair Organizations Act – intends to protect the public from unfair or deceptive advertising and business practices by credit repair organizations. It enumerates prohibited practices, required disclosures, contract requirements, liability, and penalties for non-compliance and procedure to report non-compliance.
Electronic Transfer Act – passed to establish the rights and liabilities of consumers as well as the responsibilities of all participants in electronic funds transfer activities.
– Source: wikipedia
Do Not Be Blind to the Gifts & Resources God has Already Provided
There is a folktale that goes something like this: A man is seeking God, and as he begins his journey, he comes upon a wolf in the forest.
“Will you share your food with me?” the wolf asks the man.
“No,” says the man, “I don’t have time. I am seeking God and I cannot be distracted.”
The man continues on his way. As he crosses a river, a woman appears nearby.
“I’m lonely,” says the woman. “Will you be my companion?”
“No,” says the man, “I don’t have time. I am seeking God and I cannot be distracted.”
The man continues on. He passes a tree., which whispers, “Please help free my roots. I can’t drink enough water, and I am thirsty. Will you dig out the rock that blocks my nourishment?”
“No,” says the man, “I don’t have time. I am seeking God and I cannot be distracted.”
The man reaches the edge of the forest, and when he emerges he finds nothing. Lost and alone, he collapses to the ground.
“Why have you forsaken me, God? Where are you? Why am I alone and lost, when all I have done is seek you?”
“I placed the wolf in your path to protect you,” says God. “I put the woman on earth to be your soulmate. And the rock that blocked the roots of the tree was a treasure chest. But you ignored everything I tried to give you.”
– Julia Cameron/The Prosperous Heart
The Ultimate Consumer Protector
He who dwells in the shelter of the Most High
Will abide in the shadow of the Almighty.
I will say to the Lord, “My refuge and my fortress.
My God, in whom I trust!”
For it is He who delivers you from the snare of the trapper
And from the deadly pestilence.
He will cover you with His pinions,
And under His wings you may seek refuge;
His faithfulness is a shield and bulwark.
You will not be afraid of the terror by night,
Or of the arrow that flies by day;
For He will give His angels charge concerning you,
To guard you in all your ways.
– Psalm 91:1-5,11