People have had problems managing their credit for a long time, but before 1951, there were no funds available to help. In that year, the National Foundation for Credit Counseling formed by the creditors that originally came together for two main purposes. The first was to oversee the policy and legislative activity affecting credit lenders in its membership base. Its stated purpose other to produce and promote knowledge of budgeting, using credit responsibly and avoid bankruptcy.

Despite the NFCC was involved in public education efforts have not been involved in collection efforts, as members have accepted the people he owed money. It serves primarily as an operation that will provide funds to creditors and the public.

The NFCC was the credit agency education only exist until the 1960 when the debt help local agencies began to form. These are the community programs that offer credit education and counseling directly to consumers to meet in their offices for a personalized session. The NFCC continued to operate as a business organization in which local agencies could help underwrite the debt voluntarily.

After 42 years of being the only industry trade association Consumer Credit Counseling, NFCC faced some competition with the 1993 formation of the Association of Independent Consumer Credit Counseling Agencies. AICCCA was founded on the basis of"causing all the industry standards of ethical conduct and quality ", according to the financial advisory group that created it.

In contrast to the NFCC AICCCA is committed to providing programs for debt management to consumers via phone, plus the possibility of contact in person. Originally NFCC strongly against giving credit counseling by phone, but they did eventually succumb to this business practice. Over time, the adoption of all forms of counseling agencies consumer credit, delivery of your services, which was aided by the use of large inbound call centers with trained financial advisors. Finally, programs for debt management was to be offered over the Internet as well.

Another important change in the credit management industry consumption was the result of preventing bankruptcy abuse and Consumer Protection 2005. This law makes it obligatory for consumers to seek bankruptcy and complete a course in budgeting and financial management in the six months immediately preceding the bankruptcy filing. The new law requires that this program is implemented through an approved budget, non-profit and a credit counseling center. Besides bankruptcy filings, including the 2005 Act's mandate consumers to complete a bankruptcy procedure, of course, this presentation process for your debts discharged legally.

The advent of credit counseling agencies from consumers are to keep pace with the demand created by a prolonged recession and rising demand for IT services because of the 2005 reform law to bankruptcy. Both nonprofit organizations and for-profit reported an increase in the number of clients they serve, which has contributed to the level of some of the criticism leveled at the industry as a whole.