Consumer Credit Counseling Services Cccs By Snicker on - Updated Oct 15, 2011
Consumer Credit Counseling Services is an organization designed to help those in financial need. If you have over committed yourself with debt and can't afford the payments and are trying to avoid bankruptcy, you might consider using this company. They're also known as CCCS. If you take your bills to this company, they will combine all payments into one that you make to this company. They in turn pay the bills for you. They contact each of your creditors to attempt to reduce the interest rate you are paying. This will help you pay off your bill sooner but it can also reduce the minimum payment amount, which will make your monthly outgo of bills more affordable for you.
Keep in mind if you go to this company, it will reflect bad on your credit. If you're all about worshiping at the altar of the Great FICO then you might not do this. This is certainly easier on your credit than a bankruptcy. If you choose to go with this company, it is your responsibility to check with your creditors to make sure your payments are being made. Other consolidation services take your monthly payment and don't apply the funds to your creditors. Beware and cautious when selecting one of these companies.
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CCCS Debt Consolidation
I have used their services before and none of the creditors reported badly on our credit. We actually had no problems purchasing our first home while on the program. Maybe each creditor is different?
Brooke I have friends who have used this and got positive responses from lenders and credit agencies alike. So possibly it might be a localized issue?
Thanks for the honest information. Some of these companies are good and some are bad. I have heard good and bad about many. I guess it just depends on your location and the creditors who are being dealt with.
Great word of caution that it will affect your credit. But I would assume that it would be better than bankrupsy....right?
i wonder how it makes your fico score worse? I tried getting an assessment from them and i couldnt make their proposed monthly payments
Glad that you were able to find a company to help you with your situation.
It has been close to 13 years ago but, my Ex-husband and I went thru these guys...Thanks to my EX they were unble to help and said just file Bankruptcy.I don't blame them My Ex is the one who had all collections on him. However, I do hear good thingd about them thru others. Great job!
at least these guys are legit