"Are you unable to obtain a loan at a reasonable rate or
forced into paying a higher deposit to a phone company or
utility because of negative items in your credit report?
If so, you are not alone. Millions of Americans have
similar blemishes on their credit files causing them to be
denied for a loan or pay higher interest rates if they do
get a loan,” says the nonprofit Institute of Consumer
Financial Education (ICFE), a San Diego based group that
is making the self-study credit education program
available for the first time.
When Credit Is Due is a 12-lesson text, (also
available in Spanish) written by Paul Strassels, one of
America's premiere analysts on the subject of credit and
debt, and the author of 14 books on personal finances.
The course is designed to help individuals gain a better
knowledge of money issues and responsibilities revolving
around the world of credit. The course is a self-study
curriculum, with pass/fail tests following each lesson.
When students complete the course successfully, they will
be registered in a national database and sent a
registration card identifying them to lenders as graduates
of a national standardized credit education program. This
could entitle them to special consideration from
participating utilities, mortgage companies and discounts,
depending on the lenders' discretion. They will also
receive three cards addressed to the three major credit
bureaus allowing them to add a positive statement to their
The same theory applies to consumers who are borrowing
money or asking for credit as the concept of the
well-known driver's education course. When people take
drivers education and learn the rules of the road and
necessary driving skills, they are considered to be better
drivers. Auto insurance companies recognize them as better
driving risks and grant discounts on insurance premiums to
those who satisfactorily complete the course.
Individuals who successfully complete the
When Credit Is Due program should be better able to steer their
financial course in the future.
Who should consider taking this course? If you are a
first-time credit seeker, a college student seeking
credit, or an individual who has negative items on your
credit report, this program should help you boost your
credit rating and entitle you to other valuable benefits
when seeking an apartment or insurance, etc.
When Credit Is Due course is also beneficial
when applying for a loan, asking for a credit card
account, seeking a discount on a loan from a participating
lender, or experiencing a life-style change such as
getting married, having a baby, getting a divorce, or
thinking of retirement. Also if you are currently enrolled
in a debt management program with an accredited, nonprofit
credit counseling agency or thinking of declaring
Now considered the nation's foremost credit education
program, the 300-page
When Credit Is Due text will
help users achieve security and financial stability by
providing money management skills and proven techniques
promoting an understanding of the wise use of credit.
The 12 lessons included in the
When Credit Is Due course are:
Lesson One: The Facts Of Life
What you need to know to get along as a financially responsible adult.
Lesson Two: Living On The Edge
How to budget and save your money, and plug your spending leaks.
Lesson Three: To Borrow Or Not To Borrow
How to decide if you should pay cash or borrow the money you need.
Lesson Four: So You Have Decided To Borrow Some Money
How to get through the credit-granting process once you decide to
Lesson Five: The Terms Of The Deal
How to determine if you are getting the deal you have bargained for.
Lesson Six: Auto Loans And Leases
One of the toughest deals to negotiate.
Lesson Seven: Home Sweet Home
The largest debt you are likely to ever have.
Lesson Eight: Credit Cards And Other Loans
What you need to know about credit cards, personal signature loans, etc.
Lesson Nine: You've Got Trouble When
How to tell you when you may have a problem.
Lesson Ten: When You Fall Behind
Dealing with delinquency and bill collectors.
Lesson Eleven: Bankruptcy
The ultimate credit overload
Lesson Twelve: Building And Rebuilding Your Credit
How to establish good credit when you have no credit history or even a
bad credit past.
The cost of the 12-week self-study program is $50. Text
books may be ordered from the the ICFE at
PO Box 34070
San Diego, CA 92101
or at the ICFE's Web by clicking on the
When Credit Is Due
Some of the incentives offered by banks and credit unions to
Credit When Credit Is Due graduates include:
From 1/8% to 1% off on loan rates,
scholarships, reimbursement off all or part of the cost of
books, discounts on loan closing costs, waive membership
fees, no-fee checking, waive credit report fee for
mortgage loan applicants and waive loan processing fees.
Participating banks and credit unions include but are not
limited to: Kern Schools Federal Credit Union,
Bakersfield, CA., Bakersfield City Employees Federal
Credit Union, Orange County Teachers' Federal Credit
Union, Orange County, CA., American River HealthPro Credit
Union, Sacramento, CA, 1st Bank of Colorado, Denver, CO.,
Florida Central Credit Union, Tampa, FL, Tampa Bay Federal
Credit Union, Tampa, FL., American Trust Bank, Dubuque,
IA., Iowa State Bank, Waterloo, IA., Union Planters Bank,
Waterloo, IA., US Bank and Wells Fargo Bank, Waterloo, IA.
Some of the incentives offered by mortgage companies to
Credit When Credit Is Due graduates include:
Waiving credit report fees, .25% discount
on loan origination fees, discounts of up to $1000 off
loan fees, no-cost appraisals upon loan closing and a cash
rebate of $500 once loan has closed. Participating
mortgage companies include but are not limited to:
Provision Mortgage Corporation, San Diego, CA., First
Source Mortgage / MyWebLender.com, and Security Mortgage,
Rapid City, SD
Some real estate companies offer a cash reimbursement of
up to $75 upon real estate loan closing.
Participating real estate companies
include but are not limited to: Century 21 Award and
Coldwell Banker Associates Realty
Some utility companies will waive deposits.
Participating utilities companies include
but are not limited to: NY State Electric & Gas, Black
Hills Power & Light - Rapid City, SD Black Hills Electric
Cooperative - Rapid City, SD West River Electric
Association - Rapid City, SD Butte Electric Cooperative,
Newell, SD and Avista Utilities, Spokane, WA.
For more information about the
When Credit Is Due
course visit the ICFE's Web page at:
To receive the same information by mail, please send $1
and a self-addressed, 60 cent stamped envelope to:
When Credit Is Due Course
PO Box 34070
San Diego, CA 92163-4070.
About the ICFE:
The Institute of Consumer Financial Education (ICFE) was founded in 1982 by the late Loren Dunton (creator of the Certified Financial Planner (CFP) designation). The ICFE is dedicated to helping consumers of all ages to improve their spending, increase savings and use credit more wisely.
The ICFE is an award winning, nonprofit, consumer education organization that has helped millions of people through its education programs and Resources. It publishes the Do-It-Yourself Credit File correction Guide, which is updated annually. The ICFE has distributed over one million Credit/Debit Card Warning Labels and Credit/Debit Card Sleeves world wide.
The ICFE became an official partner with the Department of Defense/Financial Readiness Campaign in June of 2004.The ICFE was an active partner in the California Student Debt Resource Awareness Project (CASDRAP) which resulted in a new web site: (studentdebthelp.org). CASDRAP disbanded in 2010, shortly after the web site project was completed. In 2011 the ICFE assumed the single sponsorship of the (studentdebthelp.org) web site and is now responsible for its content and operation.
The ICFE is also an on-line help for consumers who spend too much. ICFE's spending help was featured in PARADE Magazine in the Intelligence Report section. The money helps and tips are from the ICFE's Money Instruction Book, our course in personal finance.
Visit the ICFE's other web sites at: www.financial-education-icfe.org and studentdebthelp.org. Both sites helps consumers and students with mending spending, learning about the proper use of credit, budget and expense guidelines, how to set up and implement a spending-plan and also how to access financial education courses and how to teach children about money. Other ICFE services include: Ask Mr. G, a free eNews, and an online resource center for students, parents and educators, plus financial education learning tools and a book store.
About the ICFE:
The Institute of Consumer Financial Education (ICFE), founded in 1982 by the
late Loren Dunton (creator of the 'certified financial planner' (CFP)
designation) and it is dedicated to helping consumers of all ages to improve
their spending, increase savings and use credit more wisely. The ICFE trains and
certifies Personal Finance Instructors for its own curriculum. It also trains
and certifies Credit Report Reviewers and Identity Theft Prevention Specialists.
The ICFE is an award winning, nonprofit, consumer education organization that
has helped millions of people through its education programs and Resources. It
publishes the Do-It-Yourself Credit File correction Guide, now in its 16th
printing and has distributed over one million 'Credit/Debit Card Warning Labels'
and 'Credit/Debit Card Sleeves' world wide.
The ICFE became an official partner with the Department of Defense/Financial
Readiness Campaign in June of 2004.
The ICFE is also a partner in the national Jump$tart Coalition for Financial
Literacy and the California Jump$tart chapter. The ICFE staff is also active
with San Diego Saves, an offshoot of America Saves, and the California Student
Debt Resource Awareness Project (CASDRAP) (studentdebthelp.org).
The ICFE's on-line help for consumers who spend too much was featured in PARADE
Magazine in the Intelligence Report section. The money helps and tips are from
'The Money Instruction Book,' a course in personal finance, positioned to become
among the premier programs in the new bankruptcy and debtor education
The ICFE Web site at:
www.financial-education-icfe.org helps consumers with mending spending, learning about
the proper use of credit, budget and expense guidelines, how to set up and
implement a spending-plan and also how to access financial education courses and
videos and how to teach children about money. Other ICFE services include a free
eNews, and an online resource center of financial education learning
tools, including videos, books, software and personal finance courses.