Funding 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
· HUD funding and lender funding for the provision of housing counseling.
Navicore 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) non-profit organization.
Ø Counselor Qualifications
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 16 Professional
Development Units every 2 years.
Ø 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
for less than full balance are considered derogatory and may stay on a credit
report for up to 7 years.
notation will remain on the report for a period of up to 10 years.
Ø Cost of Services
· 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
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 session.
· It is Navicore Solutions’
obligation to provide a certificate of counseling completion in a prompt
manner. Certificates are issued only if
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, subpoenaed by court or disclosed to the U S Trustee in
connection with their oversight of our agency, during the investigation of
complaints, during on-site visits, or during quality service reviews.
· Navicore Solutions does not
disclose information to credit reporting agencies that a customer has sought
· Navicore Solutions may
disclose client information to the United States Trustee as noted above.
· The United States Trustee
has reviewed Navicore Solutions’ counseling services and its services as a
provider of a post-bankruptcy personal financial management instructional
course pursuant to 11 U.S.C.111 (d), 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.