can anyone tell me of their experiences with consumer credit counseling?

Answer 1

Just make sure you are working with a good reputable agency. I have nothing but good things to say about American Consumer Credit Counseling.
http://www.consumercredit.com/

What they saved me in interest charges more than paid for the monthly fee I paid to them for their services. Will using such a service hurt you in the long run? Probably not. As others have said, companies are more interested in getting their money from you than charging off a debt. It looks far better for you if you have paid it off no matter how you choose to do so.

Answer 2

CCCS is not like filing bankruptcy - the scores greatly depend on your involment and finding a good CCCS or money management orginaztion.

Using a CCCS program can help in more ways than not.
These programs are use to get you out of debt faster and forces you to use displine through a tight payment program .
In other words the creditors will give you somethiong if you give them something .Its better they lower the % or waive fees than to take a chance a not get as much money in the end .

You will need to make sure you pay and miss no payments
Check your staements each month to make sure they have given the benefits each month and all will be well .
( thier can be problems with 1.2 millon customers somethings bound to happen , make sure you notify your CCCS compnay .

Bottom line - NO it will not effect your score negatively as long you stay involved . Yes it will decrease your score if have negligent company or do not pay attention to your statements monthly .

Answer 3

I have not personally used CCCS, but I do know the following:

(1) Using them does the same to your credit as a Ch13 bankruptcy.

(2) Using them will not teach you to manage your own money.

(3) The formula they use to decide how much of your money gets paid to debts & how much you get to live on is outlandish. I have seen budgets they have made for a family member. I am super thrifty, but there is NO WAY she could have lived on it w/o going to food pantries. CCCS is funded by the credit industry. They have NO INCENTIVE to make things work out in YOUR favor.

(4) You CAN (& I HAVE) clean up your own debts w/o involving CCCS. DH & I follow Dave Ramsey's "Total Money Makeover". We have cleaned up tons of debt from college & a failed business. As a bonus, we actually finally learned how to manage our own money & haven't borrowed a nickel since 2002! I encourage you to get a copy of the book from your library & at least read it before you go sign up w/ CCCS.

Best wishes.

Answer 4

Bottom line - NO it will not effect your score negatively as long you stay involved . Yes it will decrease your score if have negligent company or do not pay attention to your statements monthly .

Sorry, deenbmore, your situation is not the NORMAL situation when working with CCCS.

In essence, CCCS, furthers DESTROYS your credit with a debt-management program.

How? Why?

We hear from thousands of people, who share horror stories about various CCCS organizations. Was yours different? Perhaps.

Click on this link to hear details about CCCS: www.fixmyuglycredit.com/Consumer-Debt-Counseling.html

On paper, CCCS sounds great. According to many reports we receive from people signed up with us to repair their damaged credit, the CCCS experience is very different in reality than on paper.

Good luck.

Answer 5

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.

Answer 6

there are a number of companies that provide debt consolidation, not basically CCCS. the project is, you're able to be able to desire to examine their historic past and verify they're companies that legitimately pay your lenders and negotiate with them. examine the telephone e book on your section for community companies and then examine jointly with your community extra advantageous enterprise Bureau-it somewhat is terrific to handle somebody a minimum of on your guy or woman state.