Recent News Coverage
(On May 26, 2010, the agency changed its name to CredAbility. News releases prior to this date refer to the agency’s original name, Consumer Credit Counseling Service (CCCS) of Greater Atlanta)
Heal a Wounded Credit Score, Friday, February 18, 2011
Some lost their jobs or were just overwhelmed by mounting debt. Others got caught up in the real estate bubble or had major medical bills. Whatever the reason, the rising number of foreclosures, short sales, late credit card payments and the ultimate credit sin — bankruptcies — have left black marks on credit reports most everywhere.
AJC's Biz Beat Interviews CredAbility President Suzanne Boas, Tuesday, February 15, 2011
It’s rare when journalists get the chance to call on the same source of information over two decades. But I’ve been lucky enough to be able to interview Suzanne Boas, on and off, during the 19 years she’s headed CredAbility, the new name for what was the Consumer Credit Counseling Service of Greater Atlanta.
CredAbility Chief to Retire, Wednesday, January 19, 2011
Suzanne Boas, the long-time president of an Atlanta consumer credit counseling service that she helped steer into national prominence, told employees Tuesday that she will retire at the end of June.
More Homeowners Filing Bankruptcy to Avoid Foreclosure, Thursday, January 20, 2011
Living in a state with one of the quickest foreclosure tracks in the nation, many struggling Georgians learn that their homes will be sold on the courthouse steps just a matter of weeks before the sale. For those unwilling to walk away from their home, one possible next step is quick and controversial: declaring bankruptcy.
For Consumers, a Year to Trim Budgets, Not Trees , Tuesday, November 30, 2010
As we enter the holiday season, all eyes are on the American consumer. Economists, government officials and businesses are hoping that consumers will open up their wallets and give the economy the boost it needs. But on the heels of the worst recession in generations, with jobs still scarce and foreclosures and bankruptcies at record highs, is this really what we should be hoping for?
Indiana 'Consumer Distress' Ranks Among Worst in U.S., Friday, November 19, 2010
CredAbility, an Atlanta-based nonprofit credit counseling agency, said Indiana's consumer distress rating fell to 60.68 in the last quarter, from 62.61 in the previous quarter and down from 62.32 a year ago.
Texans' Distress Level Eases Slightly, Thursday, November 18, 2010
Texas consumers fared slightly better in terms of financial distress in the third quarter but were still considered to be having a tough time, according to the CredAbility Consumer Distress Index.
15 Times When You Shouldn't Use Your Credit Card, Monday, October 04, 2010
There are plenty of reasons to use a credit card -- convenience, accountability and safety amongthem -- but when is it better just to step away from the swiper?
Poverty Rate in U.S. Rose to 15-Year High in 2009, Thursday, September 16, 2010
The poverty rate in the U.S. rose to the highest level in 15 years in 2009, underscoring the toll the recession took on the nation and adding fuel to an election- year debate over the Obama administration’s economic policies.
Foreclosures Hit Home Builders Hard, Monday, September 20, 2010
Despite the fact that luxury home builder Bob Toll has told me over and over again that foreclosures don't compete directly with new construction, at least not his pricey new construction (which I don't buy for a second), the Monthly Sentiment Survey from the National Association of Home Builders has some pretty strong words to the contrary.
New Index Finds U.S. Consumers in Financial Distress, Tuesday, June 15, 2010
While the U.S. economy is showing signs of recovery, the average U.S. consumer remains in financial distress – despite a significant pullback in household spending.
Want a Loan Modification? Get Your Paperwork Ready, Friday, May 28, 2010
Attention delinquent borrowers: If you want to get into the Obama administration's mortgage modification program, you'd better have your paperwork ready.
Credit Scores Strong in Financially Distressed America, Thursday, May 27, 2010
Yesterday, the Consumer Credit Counseling Service of Greater Atlanta, which has renamed itself CredAbility, released a new quarterly index that measures the financial health of the average American over time. The index uses a 100-point scale where anything below 70 indicates financial distress. The methodology is proprietary, but CredAbility uses data from public and government sources a well as its own research in these five areas: employment, housing, credit scores, household budget and net worth.
A New Era of Consumer Caution, Monday, March 08, 2010
As a credit counselor, Rodney Tullie has been helping consumers manage debt problems for two years. That's been long enough to witness, from a front-row seat, what some are heralding as the end of an economic era.
Foreclosure Reality, Sunday, November 01, 2009
Kathleen Day, a spokeswoman for the nonprofit Center for Responsible Lending, says Congress should have made it mandatory, not voluntary, for lenders to help troubled borrowers with foreclosure prevention programs early in the crisis.
What's This Charge?, Tuesday, October 27, 2009
WHAT'S THIS CHARGE?: It might just be an unexplained charge on your credit card statement that you don't recall making or have a receipt for. But it's important to look into these small transactions as they may be part of a larger problem: stolen credit.
Mortgage Demand Drops as Fixed Rates Rise, Wednesday, September 16, 2009
Demand for U.S. home loans fell as fixed mortgage rates rose last week in a banking period shortened by the Labor Day holiday, the Mortgage Bankers Association said on Wednesday.
5 Foreclosure Fighting Tips, Friday, July 24, 2009
Foreclosure filings nationally rose 33 percent in June compared with the same month last year, according to data collected by RealtyTrac, Inc.
False Promises of Foreclosure Help, Sunday, August 09, 2009
Don and Evelyn Perry turned to People's First Financial when they worried their Lawrenceville home may fall into foreclosure. They paid $3,000, but never got their loan refinanced.
Choosing Bankruptcy to Avoid Foreclosure, Thursday, August 06, 2009
Even though you cannot get rid of your mortgage payments through bankruptcy, about one in five people who went through mandatory pre-bankruptcy credit counseling said they were doing so to avoid losing their homes to foreclosure, according to Consumer Credit Counseling Services of Greater Atlanta. That organization provides counseling throughout the United States.
Avoid Firms That Prey On Troubled Homeowners, Friday, June 12, 2009
The economic crisis has spawned several unscrupulous companies that prey on homeowners who are having trouble paying their mortgages.
Loan Modifications Create Counseling Need, Saturday, August 01, 2009
The frenzy to participate in the Obama administration affordable home loan modification program is on. However, some market insiders say more borrower counseling is needed because the complexities of the loan modification process can create roadblocks that prevent consumers from getting a modification.
Meltdown Changes Key Agency, Tuesday, July 28, 2009
Almost anyone can get into financial trouble. No one knows that more than Suzanne Boas, who for nearly two decades has guided a non-profit agency that tries to help thousands of distressed consumers each year. In this economic meltdown, however, the clients are different -- and so is Boas and her agency.
Paying off Debt Without Going Broke, Wednesday, May 20, 2009
Last summer, Maria Calderon was so overwhelmed by credit card debt, she couldn't sleep. She owed $21,000 on nine cards with interest rates as high as 29.99 percent.
Weighing the Options With Credit Card Debt, Saturday, May 16, 2009
"A debt management plan doesn't reduce the balance" owed, says Rick Phillips of Consumer Credit Counseling Service of Greater Atlanta, "but one of the big advantages is that the interest rates go down, usually significantly."
Credit Counselors Offer Practical, Proven Tips, Sunday, June 21, 2009
When credit card debt, home loan payments and college expenses become overwhelming, some Americans are finding themselves on a path to losing their home or filing for bankruptcy.
Grant Will Help CCCS Better Serve Hispanics, Friday, May 08, 2009
A $908,000 grant from the Goizueta Foundation to the Consumer Credit Counseling Service of Greater Atlanta will expand financial services to metro Atlanta's Spanish-speaking population.
New Federal Loan Plans Unveiled to Help Homeowners, Friday, March 06, 2009
On March 4, President Obama's administration announced details of a comprehensive plan to help responsible homeowners avoid foreclosure by encouraging affordable and sustainable mortgage loans. Under the Making Home Affordable plan, eligible borrowers may seek either a loan modification or refinancing.
Hard Times Feed Surge in Client at Financial Counseling Service, Wednesday, January 21, 2009
More than a half-million Americans sought credit counseling last year from an Atlanta-based service, a 26 percent increase over 2007.
Mortgage Trouble Rises to Record Level, Saturday, December 06, 2008
Recession, Job Losses Driving Distress
The Unemployment Survival Guide, Thursday, November 13, 2008
Keeping your financial house in order is important. It’s even more crucial if you recently lost your job.
Many Georgia Mortgage Holders Still Struggling to Pay, Sunday, October 19, 2008
Federal bailout of Wall Street ignores root of the problem, critics say
Despite mounting foreclosures and loan delinquencies in Georgia, lenders and consumer advocates have been slow to rework troubled borrowers’ mortgage obligations.
Foreclosure Crisis Busies Counselors, Revives Mortgages, Sunday, October 12, 2008
The numbers don't lie. The Consumer Credit Counseling Service of Palm Beach County and the Treasure Coast held 1,035 pre-foreclosure counseling sessions in September—a record.
Consumer Credit Plans Mortgage Advice Center, Friday, October 10, 2008
Consumer Credit Counseling Service of Greater Atlanta (CCCS) is planning its largest expansion in the nonprofit’s 44-year history, opening a Cobb County call center this December that will exclusively serve customers struggling with their mortgage payments.
Homeowners Have a New Option, Friday, October 10, 2008
The prospect of mortgage debt forgiveness will entice hundreds of thousands of homeowners into picking up the phone to play the home-preservation game of "Let’s Make a Deal," beginning this fall.
Homeowners Make Tradeoffs as Costs Soar, Tuesday, October 07, 2008
What percentage of your family budget is your mortgage or rent check? According to recently released 2007 Census figures, 7.5 million Americans spend at least half their income on their housing expenses.
Counselors Find Pressure Rises on Middle Class, Wednesday, September 24, 2008
More middle-class Americans are suffering financial pain and reaching out for help, according to new numbers from the Consumer Credit Counseling Service of Greater Atlanta.
Need a Financial Makeover? Let Us help, Sunday, September 14, 2008
CCCS counselors provide advice and information to people in south Florida looking for help on a variety of financial issues.
As Inflation Hits, Pare These Expenses, Monday, August 18, 2008
As Inflation Hits, Consumer Credit Counseling Service of Greater Atlanta provides recommendations on how to cut expenses.
New Tool Keeps Up With Loan Modifications, Monday, August 18, 2008
As homeowners have battled to keep up with their mortgages, lenders and their call centers have struggled to handle the number of people hoping to bargain for lower interest rates, principal reductions and longer payment plans.
A Tough Teachable Moment, Sunday, August 17, 2008
Suzanne Boas discusses the current credit crisis as part of an editorial.
How to Tell If It's Good or Bad Debt, Thursday, July 24, 2008
The economy is struggling, and consumer debt is at an all-time high. Total consumer credit reached nearly $2.6 trillion in May, according to preliminary numbers released earlier this month by the Federal Reserve Board --and that sum excludes loans secured by real estate (e.g. mortgages and home equity loans).
Buying a Home? Raise Your Credit Score First!, Sunday, July 06, 2008
When you’re applying for a mortgage, the lender has to decide how big a risk is it to lend money to you. They want to know how likely you are to pay back the loan on time, and they look to your credit score for that information.
Barely Surviving on Credit Cards, Friday, May 09, 2008
These days, more and more people are saying "Charge it." Finding themselves strapped for cash and unable to use their home as an ATM, Americans are increasingly turning to credit cards to cover gas, groceries and other living expenses.
Housing Slowdown Creates Job Opportunities for Credit Counselors, Friday, April 25, 2008
The housing crisis has strained Florida’s once-booming job market, but there’s opportunity in one niche: credit counseling.
Loving Loan Workouts, Tuesday, April 08, 2008
Software developed and owned by Computer Sciences is likely to play a big role in how mortgage servicers process and approve loan modifications for troubled borrowers.
Donación de $2 milliones para apoyar la asesoría de crédito, Thursday, June 12, 2008
A pilot program to help struggling homeowners prompted the Ford Foundation to give $2 million to the Consumer Credit Counseling Service of Greater Atlanta.
Despite Interest Rate Cuts, Foreclosures Hit Record High, Friday, June 06, 2008
Even though lower interest rates have made many adjustable-rate mortgages more affordable, foreclosures continue to reach new heights as more than 1 million homeowners face losing their home, according to industry figures released yesterday.
