Card Consumer Counseling Credit Credit Debt Help

I have approximately $2000 of credit card debt that I absolutely need to get paid down. i talked to consumer credit counseling services, a debt consolidation company, http://www.cccsstl.org/ and this is what i was told:

Basically they would cut my payments down to about $130 a month total for 3 cards by getting my interest rates lowered to between 6 and 10% approximately. I would pay it off in 2 years instead of 8 as i would now without consolidating. he said the $130 a month payment included a monthly fee of $49 directly to the credit counseling service for their help and services. Is that the normal thing when consolidating? Is that legitamet? I would only be paying $80 or so a month on the actual credit card debt and that doesn't seem like very much to me.

Anyone have any knowledge in this area? Is consolidating a smart thing to do and does it hurt your credit in any way? Is there a smarter way to do it?

LONG-sorry and thanks!

Don't touch it! Instead go to www.daveramsey.com
He is a financial giant. Great advice there. Read Financial Peace , Total Money Makeover both by Dave Ramsey.

2007-02-20 22:27:47 by Holly C

settlemycreditcarddebt.com debt settlement advice debt settlement companies debt settlement program debt settlement usa debt solutions consumer ...

Does anyone know how good is Consumer Credit Counseling Service??? I have a credit card debt of 10000 so I called them and they told me, they will charge me 35 usd one time fee, after that they will settle a low interest rate and low monthly payments for me and they will charge me 7.5% of the monthly payment being sent to my debtors until everything is paid off.. Does anyone know how good is Consumer Credit Counseling Service??? any opinions out there???..I need help since my cards are already 8 months past due..

I used them several years ago and was debt free in 36-months I highly recommend them.

2009-09-10 13:50:39 by Christian

Price: $9.95 $9.95

I have approximately $2000 of credit card debt that I absolutely need to get paid down. i talked to consumer credit counseling services, a debt consolidation company, http://www.cccsstl.org/ and this is what i was told:

Basically they would cut my payments down to about $130 a month total for 3 cards by getting my interest rates lowered to between 6 and 10% approximately. I would pay it off in 2 years instead of 8 as i would now without consolidating. he said the $130 a month payment included a monthly fee of $49 directly to the credit counseling service for their help and services. Is that the normal thing when consolidating? Is that legitamet? I would only be paying $80 or so a month on the actual credit card debt and that doesn't seem like very much to me.

Anyone have any knowledge in this area? Is consolidating a smart thing to do and does it hurt your credit in any way? Is there a smarter way to do it?

LONG-sorry and thanks!

I have placed this in the source box. There is a wealth of information there and a great free debt management software program. I bookmarked the site as I return to it often for the advice it offers. I hope this helps you.

2007-02-20 22:28:04 by Holly C

Price: $6.99

I am unable to make the high payments because after being late the banks are now charging me 30% interest. I have between $15 and $20 thousand in un-secured debt and our income has plummeted due to low sales at our business. I am looking to either sign up with a consumer credit counseling service where they can lower your interest rate or with the other option which is a debt settlement company where they settle with the creditors for a lower amount to be paid back. I want to know which will be a lesser negative effect on my FICO score. I have always had excellent credit but now I want to do what is best for my credit score.

what ever company you decide on, please go to www.ripoffreport.com and check them out there. (the site is free to use and it is a site were consumers report problems that they have had with various businesses). If your potential company is on there that might be a bad sign.
I hear that you will have to pay these services a fee so make sure you find out upfront what that fee will be.

2008-02-06 19:57:30 by Colleen

I have about 3,000 in credit card debt from Citi and Discover. Both have been charged off so the damage is already done and I am 20 years old and I had to use this to pay for college and I wanted to try and make a small payment plan so I could defintley afford the payment but both collection agencies are asking for over 100 each month and I can't really afford that right now. I filled out this online application for Consumer Credit Counseling Service and they set up a plan where I pay 85 each month and out of that 15 goes to Consumer Credit Counseling Service and there also a fire deposit amount of 120$ which includes a file setup fee. Should I continue to do this or try and talk with the collection agencies about lowering the monthly payments or find another Service? I just want something that I can afford. Please help. Thank you

hello - sometimes the name Consumer Credit Counseling Service which is a non profit service can be confused with other debt payment services that are for profit - i suggest you go to www.nfcc.org/ National Foundation for Credit Counseling to see if the service that you are using is accredited. CCCS can not make a creditor do anything but they have positive relationships with many creditors that may benefit you - collection agencies are difficult to work with - it may be that the original creditor will take back the debt from the collection agency after some payments are made - maybe - maybe not - true CCCS will want you to do what is in your best interest - be sure that you are working with a true CCCS!

2008-07-03 20:55:54 by JJ1231