Military Veteran Project is honored to team up to provide free housing & credit counseling for Veterans, Active Duty and Reservist
The Military Veteran Project is honored to team up with Housing and Credit Counseling, Inc. a National Foundation for Credit Counseling member agency to assist active duty, reserve, veterans and military families with free housing and credit counseling services.
Current and former military personnel face unique financial situations and considerations such as deployment abroad coupled with their need to follow payment schedules in the U.S. These money management challenges often lead to failure to pay household expenses, heavy reliance on mortgage options to finance housing, and significant credit card usage and debt. In fact, 93% of military personnel have a mortgage and 91% have at least one credit card.
Furthermore, current and former military credit card users are more likely to have debt than civilians. These challenges continue post-deployment as service members face new financial problems, including over 30% unemployment for veterans between the ages of 18 and 24.
As experts in money management, budgeting, and financial education, National Foundation for Credit is well equipped to assist veterans with their unique financial challenges.
NCCC aims to provide veterans and current military personnel with the information and tools to evaluate their current financial situations and create targeted plans to solve their financial problems.
The Military Veteran Project, Housing and Credit Counseling and National Foundation for Credit Counseling hope to help ease the transition for veterans, service members, and their families by providing the knowledge needed to make the most informed financial decisions possible.
Financial stress is a top precipitating factor to military suicide that’s been largely overlooked ever since the military suicide rate began to exceed comparable civilian rates more than a decade ago. The military's all-volunteer force has endured 13 years on a wartime footing through a devastating recession, both of which have contributed to high indebtedness and other financial distress for many soldiers and veterans.
In 2013, 479 active-duty troops, reservists and National Guard members killed themselves – most by self-inflicted gunshot wounds or hanging. The official estimate of 22 veteran suicides a day is likely far under-estimated due to lapses in data collection from death certificates. Overall, military suicides account for a disproportionate amount – about a fifth – of all suicides nationwide.