Credit And Debt Counseling Cccs

I know these types of debt consolidation plans aren't very good for your credit but my credit is completely shot and I have a fair amount of debt.Just how bad does it look on my credit?What about after the debts are all paid off?Are they trustworthy and legitimate?Do they do as they promise?What was your experience with them?Are there plans reasonable so quality of life doesn't drop too badly?
How can I find out thier contact number in my area to meet them in person?I would prefer to work with them that way.
My credit report is full of charge offs and late payments,2 judgements and a bankruptcy from 2001.I've been a financial disaster for many years but have finally "grown up" and am ready to truly tackle and repair this mess.Many of my "bad" marks will be off in the next 2-3 years.I have a current car loan but no mortgage or active credit cards.I have several bounced checks in chex systems as well.I'm hoping to have a good enough rating to obtain a mortgage at a halfway decent interest rate within in the 3-4 years.

Any company that you pay to help you with your credit problems is only making your problem worse. There are free credit counseling services that really do help but they negatively affect your credit. Since it is ruined anyway, it shouldn't matter.

If you want to handle it yourself you need to stop charging things on your cards, contact the companies involved and tell them if they lower your interest rate you will work with them to pay the cards off. Let them know if they continue with the high rates that you will feel no obligation to throw good money after bad.

You really didn't give us enough information to help you. I don't know if there is a mortgage involved but if there is pay your mortgage and utilities before you pay anything else. Would have more information if I had more detail.

2007-07-22 01:17:40 by drokk

I have always had concerns in referring people to this service. Consumer Credit Counseling Services is not a true non-profit like the Red Cross. It is a non-profit that’s created, funded and supported by the credit card industry.

For those who have gone through this program: Did you get the feeling that they were really an advocate for your credit card companies instead of you? Did they try to discourage you from filing for bankruptcy even though your debt was overwhelming and you felt that you should?

I haven't been through it, but the company I used to work for used to get calls from them all the time, offering $10 a month payment on behalf of the people who owed us money, and then asking us to contribute $10 per payment as well. Hmmmm - we refused as it seemed that they were asking the company to accept $10/mo payment and then the company pays the CCCS for the privilege.

But one thing I am pretty sure of is that they do discourage people from filing bankruptcy, yet the sad thing is that even if you do go with them and have them arrange low payments for you, you still get a bad credit rating/report, just as if you had filed bankruptcy. So ...... which is the obvious choice?

2010-02-08 19:51:14 by CatDad

We're all familiar with Consumer Credit Counseling Services (CCCS) and most of us long time posters have referred people to this service.

Yet, I was recently horrified by a Yahoo poster who stated that she was having major financial problems and went to CCCS with $14K in credit card debt.... and they "advised" her to sell her house and give the money to her credit card companies...then to move into an apartment where the rent was twice that of her mortgage.

I've also been aware of CCCS advising people to never file for Chapter 7 even though they probably should. I'm rethinking my advise to refer people to CCCS....Maybe people should negotiate directly with their creditors instead....Any thoughts?

I just recently filed BK and one thing that our attorney told us was just that CCCS is more a less a collection agency for credit cards so to speak. If your debt is within payment reach but you need help in sorting this out, then I think they would be great. But with larger debt, no job, or wages cut, collecton agencies calling, foreclosure etc. I would not recommend them. Just finished the required education course through CCCS on line for BK. I was aware of the info given and really learned nothing new. In my case CCCS would have never helped.

2009-06-10 10:49:38 by CatDad

Any information would be great. I heard both good and bad about CCCS. Again any info would be great??? I am not late as of yet or applied with anyone but will need to soon just barely hanging on.

Consumer Credit Counseling Services (CCCS) can negotiate much lower payments and interest rates....They DO NOT negotiate settlements...just reduced interest and payments.

They will require you to stop using all credit and to cut up your cards. Your credit report will be updated to "enrolled in debt management." This does not damage your credit, but it may make it impossible to obtain new credit while you are enrolled in their program....so don't use this service if you anticipate applying for a new apartment, car loan or mortgage anytime soon, as you would probably be denied while you're enrolled in the CCCS debt management program.... Otherwise, it can be a very good way to deal with your debt.

Please note that CCCS cannot perform miracles in situations where there is an overwhelming level of debt relative to your income/assets. Sometimes Chapter 7 bankruptcy is the only solution to overwhelming debt. Don't let anyone smear or guilt-trip you for making this decision if you have to...especially all the people who like to quote Dave Ramsey who think that BK should always be avoided....this is ridiculous advise that only benefits credit card companies...Of course BK should be avoided if at all possible...but sometimes it is needed. Do what's best for you and your family. Corporate America uses BK all the time and no one slams them.

Just remember that you can only file for Chapter 7 once every eight years....so if you file, you won't be able to discharge your debts again for eight years, even if you find yourself in a worse financial situation..
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What you need to know about debt settlement firms:

Your credit card companies are not going to offer you settlements like 50%, for example, if you are current (not behind) on your payments. Basically, the only way you can get into a position to negotiate settlements is to deliberately let your accounts go into default. This is exactly what debt settlement firms do....They take a monthly amount from you and use that to build a “settlement” account, which will go towards paying the “settlement” at a certain date. Your creditors will deliberately not be paid. They will not be happy about this.

If you are current on your accounts, this process will ruin your credit rating as your accounts will all go into default. Your creditors are under no obligation whatsoever to accept settlements from any debt settlement firm you hire. Their response might be to serve you papers and take you to court.

You don’t have to pay any firm to attempt settlements. You can try this own your own. Just remember, if you currently have good credit, this process will ruin your credit and there’s no guarantee that your creditors will accept settlements. If you are currently in default on your credit cards, you can make your own settlement offers. You don’t need to pay anyone to do this for you.

2008-09-02 13:56:13 by lkkindrick3

Like many people in America, I made stupid decisions in the past, and because of that, I have a cumulative credit card debt of about $25,000. Both my wife and I work full time to raise our 2 year old girl, but it's just impossible to keep paying our monthly payments on time anymore. Somebody told me of CCCS and they said they can help me negotiate better rates, lower monthly payments and debt reduction with my creditors. Are companies like this one trustworthy? How much should I expect them to pay them in the long run for their services? How will this affect my credit history?

If anybody has had experiences with this type of companies, I would appreciate your comments. They say they don't offer a loan or anything, they just help me to negotiate and get a better deal, but I'm not sure at what cost.

I'm sorry your in debt but you have taken the first step. You have admitted you need help. Contact www.nfcc.org & set up an appointment to get help.

They can help you set a budget & pay off your debt honestly.

Good luck!

2009-06-18 12:25:58 by Estebanico