sources received by Navicore Solutions for the provision of its services are
through the following:
Monthly service fees and a one time enrollment fee from
clients enrolled in our Debt Management Program (These funds are used to help
defray administrative costs of the DMP and are not fees for counseling.),
Fair Share Contributions received from creditors as dictated
by their guidelines,
Grant funding for financial education and program services,
and lender funding for the provision of housing counseling.
Solutions does not pay or receive compensation or other consideration for the
referral of debtors to or by Navicore Solutions. Navicore Solutions is a 501c(3)
All of Navicore Solutions’ counselors must meet
certification requirements, as set forth by the National Foundation for Credit
Counseling (NFCC) Code of Practice. A counselor is required to complete a
testing and certification program, as conducted by the NFCC, in order to be
designated as a Certified Consumer Credit Counselor. Once a counselor
successfully completes the certification program, the standard requirement for
certification has been fulfilled and the counselor is designated as a Certified
Consumer Credit Counselor.
In order to
maintain Certified Consumer Credit Counselor status, the counselor is required
to uphold the NFCC Code of Ethics and earn a minimum of 20 Professional
Development Units every 2 years.
Credit Report Impact
Budget and credit counseling sessions do not pose a negative
impact on a consumer’s credit score.
Late payments, unpaid debts, charge-offs, accounts sent to
collections, and judgments are considered derogatory and may stay on a credit
report for up to 7 years.
If the consumer enrolls in a Debt Management Program
(DMP), a notation may appear on the credit report, at the discretion of the
lender, that the consumer is making payments through a 3rd party. The notation
is removed once the program has been completed or the agreement has been
terminated. Establishment of a DMP may or may not adversely affect an
individual’s credit score.
Accounts settled for less than full balance are considered
derogatory and may stay on a credit report for up to 7 years.
bankruptcy notation will remain on the report for a period of up to 10 years.
The fee for Navicore Solutions’ bankruptcy counseling
service is $50. There is no additional fee for consumers taking the course
jointly. Payment may be made by phone, online, check or money order. No
individual will be refused counseling if they demonstrate the inability to pay,
due to income level and/or hardship situation.
Navicore Solutions will waive the fee if your household
income falls below 150% of the poverty guidelines, as determined by the U.S.
Department of Health and Human Services or, if you are receiving your legal
services pro bono. The waiver request form is available on our website or can
be requested from one of our counselors. This form must be submitted along with
proof of income or pro bono services prior to the start of your counseling
Navicore Solutions’ obligation to provide a certificate of counseling
completion in a prompt manner. Certificates are issued once the client has
completed the online program and phone review with a counselor. Clients, on their
own, or through Navicore Solutions’ services, have the right to negotiate an
alternative payment schedule with regard to each unsecured consumer debt.
Navicore Solutions provides course instruction in English and Spanish. For
other languages clients are referred to another agency for assistance.
Navicore Solutions does not disclose any nonpublic personal
information about our customers except as permitted by law.
Navicore Solutions does not disclose information to credit
reporting agencies that a customer has sought credit-counseling instruction.
Navicore Solutions may disclose client information to the
United States Trustee.
States Trustee has reviewed Navicore Solutions’ counseling services, yet has
neither reviewed nor approved any other services. Navicore Solutions provides
exceptional counseling services that are available to the public regardless of
income, sex, age, place of residence, or any other demographical criteria.