Debt Management Credit Counseling Corp

PROVISION OF COUNSELING, EDUCATION AND DEBT REPAYMENT PLANS TO CONSUMERS. SEE PAGE 2, PART III, LINE 1 FOR ORGANIZATION'S MISSION AND PURPOSE

COUNSELING & EDUCATION:THE ORGANIZATION'S COUNSELING AND EDUCATION PROGRAMS FOCUS ON THE MANAGING OF CREDIT AND DEBT, BUDGETING OF PERSONAL FINANCES, AND HOUSING ISSUES. COUNSELING AND EDUCATION SERVICES ARE PRIMARILY PROVIDED THROUGH FACE-TO-FACE AND TELEPHONE COUNSELING SESSIONS, ONSITE SEMINARS AND WORKSHOPS AT SCHOOLS, COMMUNITY CENTERS AND BUSINESSES, ONLINE EDUCATIONAL COURSES, AND THE DISTRIBUTION OF FREE EDUCATIONAL MATERIALS. THE ORGANIZATION IS APPROVED BY HUD TO PROVIDE COMPREHENSIVE HOUSING COUNSELING TO RESIDENTS OF FLORIDA AND NEW YORK, INCLUDING PRE-PURCHASE COUNSELING AND HOMEBUYER EDUCATION, NON-DELINQUENCY POST PURCHASE COUNSELING, MORTGAGE DELINQUENCY AND DEFAULT RESOLUTION COUNSELING, FINANCIAL LITERACY, EDUCATIONAL WORKSHOPS, REVERSE MORTGAGE COUNSELING, AND HOMELESS COUNSELING SERVICES.SPECIFIC PROGRAM ACCOMPLISHMENTS ACHIEVED WERE AS FOLLOWS: DMCC CONDUCTED FINANCIAL EDUCATION SEMINARS AND WORKSHOPS FOR APPROXIMATELY 900 INDIVIDUALS AT NONPROFIT COMMUNITY ORGANIZATIONS AND EMPLOYER LOCATIONS. DMCC DISSEMINATED FREE FINANCIAL LITERATURE AND EDUCATIONAL MATERIALS TO ITS CLIENTS AND THE GENERAL PUBLIC THROUGH SEMINARS, THE U.S. MAIL, EMAIL AND ITS WEBSITES. EDUCATIONAL PAGES ON DMCC WEBSITES WERE VIEWED BY APPROXIMATELY 5,700 VISITORS DURING 2021. DMCC PUBLISHED EDUCATIONAL NEWSLETTERS THAT WERE DISTRIBUTED VIA EMAIL TO OVER 1,600 CONSUMERS PERIODICALLY THROUGHOUT THE YEAR. SUBSCRIPTION TO THE NEWSLETTER IS FREE OF CHARGE. DMCC PROVIDED PERSONAL FINANCIAL COUNSELING TO APPROXIMATELY 2,000 CONSUMERS, OF WHICH 900 WERE ENROLLED IN A DMCC PROGRAM. DMCC WAS AWARDED GRANTS TOTALING $277,720 TO PROVIDE HOUSING COUNSELING AND FINANCIAL LITERACY EDUCATION, INCLUDING PRE-PURCHASE HOME BUYING, POST-PURCHASE HOME OWNERSHIP, FORECLOSURE AND RENTAL EVICTION PREVENTION, AND HOMELESS ASSISTANCE. DURING THE HUD 2021 FISCAL YEAR, DMCC PROVIDED HOUSING COUNSELING SERVICES TO APPROXIMATELY 800 INDIVIDUALS AND FAMILIES.

DEBT MANAGEMENT PLANS:THE ORGANIZATION'S DEBT MANAGEMENT PLAN PROGRAM CONSISTS OF THE NEGOTIATION AND SERVICING OF REPAYMENT PLANS WITH CREDITORS ON BEHALF OF CONSUMER DEBTORS. THE PROVISION OF SUCH SERVICES IS REGULATED BY THE U.S. INTERNAL REVENUE SERVICE, MOST STATES, AND THE MAJOR BANKS PROVIDING THE UNDERLYING DEBT MANAGEMENT PLAN BENEFITS. REGULATIONS INCLUDE FEE RESTRICTIONS, BONDING AND INSURANCE, BANKING REQUIREMENTS, PRIVACY AND SECURITY POLICIES AND CONTROLS, ACCREDITATION AND CERTIFICATION OF THE ORGANIZATION, ITS MANAGEMENT AND EMPLOYEES, AND ANNUAL LICENSING AND REPORTING. THE ORGANIZATION IS ALSO SUBJECT TO PERIODIC AUDITS BY THESE REGULATING ENTITIES.SPECIFIC PROGRAM ACCOMPLISHMENTS ACHIEVED WERE AS FOLLOWS: DMCC SERVICED DEBT MANAGEMENT PLANS FOR APPROXIMATELY 4,400 CLIENTS, OF WHICH AN ESTIMATED 86% WERE LOW-MODERATE HOUSEHOLDS EARNING LESS THAN 80% OF THEIR AREA MEDIAN INCOME BASED ON GUIDELINES PUBLISHED BY THE U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES. DMCC DISBURSED OVER $13 MILLION IN DEBT REPAYMENTS TO THE CREDITORS OF ITS DEBT MANAGEMENT PLAN CLIENTS. DMCC SUCCESSFULLY COMPLETED OVER 1,200 DEBT MANAGEMENT PLAN ACCOUNTS FOR CLIENTS WHO REPAID THEIR ENROLLED DEBTS IN FULL.