Consumer Credit Counseling Service (CCCS) is a non-profit organisation that provides financial education and counseling services to individuals and families facing financial difficulties. CCCS offers debt management plans, budgeting assistance, credit counseling, and other financial services to help clients manage their finances and improve their credit scores. The organisation works with creditors to negotiate lower interest rates and payment plans for clients, and provides ongoing support and guidance to help clients achieve financial stability. CCCS is accredited by the National Foundation for Credit Counseling and operates in many communities across the United States.
A Consumer Credit Counseling Service (CCCS) is a non-profit organisation that provides financial education, budgeting assistance, and debt management plans to individuals struggling with debt.
CCCS helps individuals by offering personalized financial counseling, creating a budget, negotiating with creditors to lower interest rates or waive fees, and providing debt management plans to help individuals repay their debts.
Yes, CCCS is a legitimate organisation that is accredited by the National Foundation for Credit Counseling (NFCC) and adheres to strict ethical standards.
CCCS typically charges a nominal fee for their services, which can vary depending on the individual’s financial situation. However, they strive to keep their services affordable and accessible to all.
CCCS will make every effort to negotiate with all of your creditors. However, it ultimately depends on the willingness of each creditor to participate in the negotiation process.
Enrolling in a CCCS program may initially have a minor impact on your credit score. However, as you make consistent payments and reduce your debt, your credit score can improve over time.
CCCS can provide guidance and counseling on bankruptcy, but they do not directly handle bankruptcy filings. They can help you explore alternatives to bankruptcy and provide information on the process.
CCCS can provide guidance and advice on managing student loan debt. However, they may not be able to negotiate lower interest rates or payment plans for federal student loans, as those are typically handled by the loan servicers.
CCCS can work with your creditors to help reduce collection calls and harassment. However, it may take some time for the negotiation process to take effect, and it is important to continue making payments during this time.
The time it takes to become debt-free with CCCS varies depending on the individual’s financial situation and the amount of debt. On average, it can take around three to five years to complete a debt management plan with CCCS.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 13th April 2024.
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