The Institute of Consumer Financial Education (ICFE) has introduced for 2016, a new certification program titled: Certified Master Consumer Credit Care Specialist (CCCCS™) The program’s components have been accepted for a total of 20 CEs by the AFCPE and variety of other professional organizations, American Association of Family and Consumer Sciences (AAFCS.org) accepts it for 40 for Professional Development Units (PDUs).
The ICFE Certified Consumer Credit Care Specialist program includes the following courses, all accepted for 5 CEs each and an ICFE Certified Master Consumer Credit Care Specialist Certificate. See bottom of page for links to all four related courses.
* ICFE Certified Credit Report Reviewer - CCRR®
* ICFE Certified Credit Scoring Specialist - CCSS™
* ICFE Certified Credit Repair Specialist - CCRS™
* ICFE Certified Consumer Debt Compliance Specialist - DCCS™
The ICFE certification program was developed to give credit and debt counselor’s legitimization and recognition of their training. CMCCCS™ aims to equip all financial counselors with the tools to determine the methods of maintaining a good credit report and a high credit score. Plus the programs trains users how to change and improve credit reports, ratings and scores. The consumer debt collection compliance program (DCCS) is very useful for all credit, debt and other financial and housing counselors.
ICFE Certified Master Consumer Credit Care Specialists (CMCCCS™) teach their clients how to obtain their credit reports from the three major CRAs. When the client has his or her credit reports in hand, credit reports are reviewed, page-by-page, with the client present. The average credit report review and checking for mistakes takes about an hour and fifteen minutes.
The ICFE's new CMCCCS™ program is explores the Credit Repair Organizations Act CROA, the FCRA/FACTA laws about consumer credit scoring and credit repair. Also, the Fair Debt Collection Practices Act (FDCP). Nearly every financial counselor has been asked by a client about their debt issues, credit files and what their credit score determines in their financial lives. The new CCCCS™ program educates trains and equips all financial counselors with the knowledge needed to determine what how credit file mistakes, damage credit ratings and scores and how to change or make improvements. Learning about the legal practices of consumer debt collection equips the counselor to provide full-service to consumers. Learning credit repair procedures of the CROA and how the FCRA-FACTA law treats credit file mistakes. The most common questions asked about credit repair is how mistakes in the file can negatively affect the credit score.
The credit file is the basic element that determines whether consumers will be able to make certain purchases but few people know what it means. The three major credit reporting agencies - Experian, TransUnion and Equifax - provide different reports for the same people. It is estimated more than 25 percent contain errors and that may mean the difference between a ‘yes’ or ‘no’ when applying for a bank loan or purchasing a big-ticket item like a car or appliances. It can also raise the cost of credit and insurance.