Moneyscope Report—October 27, 2009

Having trouble managing your financial matter? Since so many people need debt relief these days, a lot of people are getting credit counseling.  The demand for credit counseling and credit and debt counselors is increasing, according to the NFCC, or National Foundation of Credit Counselors. The NFCC has also stated concern that financial illiteracy is at an all time high, and especially in the area of mortgage loans, which is what the majority of their clients need help with.  Granted, the bank’s fine print doesn’t help, which some claim is purposefully confusing.  An NFCC study revealed that many people didn’t know what the interest rates on their cars and homes were.  Perhaps everybody could use some credit counseling with their credit repair.