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Article : Consumer Credit Counseling Services
2008-04-02 16:16:00
By Neil D'silva What are the functions of Consumer Credit Counseling Services ?Contrary to what most people think, or want to think, about consumer credit counseling services, these services are not just about mere counseling for your financial credit problems. They are much more than that. The following is a list of all the services that the consumer credit counselors will provide to you:-Of course, the first service is counseling itself. They will listen to your financial problem carefully. When you are speaking all these things out, you are yourself realizing the extent of the problem you are in. Anyways, the credit counseling services will try their best to counsel you verbally about your financial problems at the outset.The next step is to train you in financial management. The credit counseling services will sit with you and discuss how you can better manage your finances. They will prepare a budget for you and your family so that you can make the best use o the income you are...
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Article : Avoid Credit Counseling Scams
2008-04-02 16:12:00
Avoid getting caught in Credit Counseling Scams ! Yes, hundreds of consumers a year get sucked into these counseling scams for improving your credit. But watch out for them. Not all of them are really going to help you. Most just want your money. There are several ways you can be sure that it's the real thing and not a scam....read all...
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News : Consumer Credit Counseling Service: Atlantans hammered by rising gas
2008-03-03 00:30:00
Thursday, February 14, 2008Atlanta Business ChronicleCustomers of Consumer Credit Counseling Service (CCCS) of Greater Atlanta spent 9 percent more on gas and food in January 2008, the nonprofit credit counseling agency reported Thursday.Metro Atlantans spent an average of $531 on gas and food in January, compared with an average of $486 in January 2007. The $531 accounted for about 30 percent of their monthly living expenses of $1,774, CCCS said. ...read all...
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News : CSC Teams With HOPE NOW Alliance Members to Provide Consumer Credit
2008-03-03 00:28:00
February 14, 2008 9:00 AM ET Extension to CSC's EarlyResolution Software as a Service Aims to Reduce Mortgage Foreclosures EL SEGUNDO, Calif., Feb. 14 /PRNews wire-FirstCall/ -- Computer Sciences Corporation CSC today announced that it has teamed with HOPE NOW Alliance members Wells Fargo Home Mortgage, Bank of America, PMI Mortgage Insurance Co. and Consumer Credit Counseling Service (CCCS) of Greater Atlanta Inc., to develop CSC's EarlyResolution Counseling Portal (ERCP), a national technology service designed to help nonprofit credit counselors reduce mortgage foreclosures. In January, CSC delivered ERCP to Wells Fargo, Bank of America, Countrywide and CCCS for pilot testing. The service will be generally available later this month. ...read all...
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Article : Powerful debt pay-down strategies
2008-03-03 00:26:00
Friday February 29, 6:00 am ETJennifer Maciejewski Is debt overwhelming your finances? If you have nightmarish visions of being surrounded by creditors, it's time to put down all credit cards, tighten the proverbial belt and start living not only within your means, but under them until you've paid back what you owe. ...read all...
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News : Consumer Credit Counseling Service offers financial tips
2008-02-12 23:14:00
February 4, 2008SPECIAL TO THE BEACON NEWSA few simple steps can make a dramatic difference in one's financial life, and there's no better time than now to get pointed in the right direction. Consumer Credit Counseling Service (CCCS) recommends that consumers review where they are in order to determine where they're headed, and encourages them to consider implementing the following tips. .. read all ..
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News : Consumer Credit Counseling Service and MassMutual Team Up to Enable
2008-02-12 23:06:00
Wed Jan 9, 2008'Consumer Credit Counseling Service and MassMutual Team Up to Enable Familiesto Apply For Free Life InsuranceLifeBridge(sm) Program Puts Money In Trust to Pay for Children's EducationalExpensesCAMARILLO, Calif., Jan. 9 /PRNews wire/ -- Consumer Credit CounselingService (CCCS) announced today it is teaming up with MassMutual FinancialGroup to offer eligible families free $50,000 term life insurance policiesunder MassMutual's LifeBridge(sm) Free Life Insurance Program. If an insuredparent or legal guardian passes away during the 10-year term of the policy,Massachusetts Mutual Life Insurance Company (MassMutual) will put $50,000 intrust to pay solely for the educational expenses of dependent children' .. read all ..

News : Over the Limit
2008-02-12 23:04:00
February 7, 2008 by Mara Der Hovanesian, Christopher Palmeri, Nanette Byrnes and Jessica Silver-Greenberg'Americans accustomed to cheap and easy money—and an economy geared to their free-spending ways—face a harsh new reality as banks raise rates and lower ceilings on credit cards' ... read all..
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News : Consumer credit growth slows
2008-02-12 23:02:00
By MARTIN CRUTSINGER, AP Economics Writer Thu Feb 7'WASHINGTON - Consumer s increased their borrowing in December at the slowest pace in eight months, additional evidence that economic activity was slowing significantly at the end of last year. For all of 2007, consumer credit rose at the fastest clip in three years.' ...read all ..
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Forum : Dealing with Consumer Credit Counselling Service
2008-01-04 14:35:00
12-08-2006, (3 posts)First comment from this forum :"I have an interview coming up with CCCS and need some general advice before I go ahead please.My situatuation is I have retrained to another career (Aviation) and I amapplying like crazy to companies for positions but no success yet.Meanwhile I am struggling to keep my head above water paying off all the debt I have built up and am trying to avoid any defaults CCJ's etc, so in summary below is what I owe and how things have gone thus far.Currently oweEgg CCard 5000Egg Money 5000N Rock 3000Cahoot 9000YB Visa 4000GM Card 4000Halifax Loan 3500Capital Bank13500Total 47000When I get sorted with a good job I wish to move house because our family is expanding so we need more room, below then are a list of questions relating to what consequences will occur due to dealing with CCCS other thansome peace of ming (Hopefully)1. Credit rating already knackered will it get worse by dealing with CCCS...
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Forum : Considering going to Consumer Credit Counselling...
2008-01-04 14:33:00
Thu Aug 03, 2006(8 posts)First comment from this forum :"I would like to know how it will affect my credit? Does anyone have any experiences good or bad with CCC? I also found Clear Debt Solutions online and was curious about them."see this forum at : http://creditcardperks.webgroups.biz/phpB B2/viewtopic.php?t=9965#54113
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Forum : Bankruptcy? debt consolidation service? Consumer Credit Counceling
2007-12-24 16:12:00
2006First comment from this forum :"I'm trying to not file for bankruptcy. Overdraft protection is the only thing keeping me from making late or no payments at all on my bills and that's nearly maxed out. I'm in huge cc debt, apppr 35k, and bankruptcy seems like the easiest way out and to feel like a person again. I want to try and fight my way out of this mess if I can. I would like to see if a service can help me but know there's a lot of scams out there. Is CCCS a debt consolidation service like Debtco or are they two different things? How do I go about finding a fair and reputable service? What types of questions should I ask? I'm near Portland, OR. Anyone have a suggestion of where to find a good service or lawyer (if bnkrp is in the future)?Also, is a charge off really that much better or different than filing for bankruptcy? What's the difference when it comes to your credit report and how it is viewed by potential lenders?"see this forum at : http://answers.yahoo.com/q...
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Forum : Does Credit Counseling WorK?
2007-12-12 00:37:00
First comment from this forum : 07-17-2007 (4 posts)"I'm going to go behind on my bills but Visa and mastercard don't seem to care. I've thought about going bankrupt but is credit counseling something to consider even if I can't afford my bills? "see this forum at : http://myvesta.org/debt_forum/does-credit -counseling-work-t34.html
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Forum : Consumer Credit Counseling, Has anyone tried?
2007-12-05 23:53:00
First comment from this forum :Oct 28 2004 (10 posts)" I am considering a Consumer Credit Counseling service.Anyone out there tried one or recommend one or wish to comment on their experiences?If it's too personal, I understand. PM's are welcome."see this forum at : http://www.paulding.com/forum/index.php?s howtopic=13510
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Below are the most searched keywords,about 'consumer credit counseling',in
2007-11-25 16:28:00
Search Word 35228 consumer credit counseling 12750 consumer credit counseling service 1835 consolidation consumer counseling credit debt services 1540 free consumer credit counseling 1290 consumer counseling credit debt management 903 consumer credit counseling services cccs 856 consumer credit counseling arizona 750 consumer credit counseling debt consolidation 716 american consumer credit counseling 684 christian consumer credit counseling 590 consumer credit counseling agency 476 consumer credit counseling service incsource : http://www.zirve100.net/incele.php
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Forum : Is it a good idea to use consumer credit counseling, to stop forecl
2007-11-17 12:32:00
First comment from this forum :"is consumer credit counseling going to help us out of foreclosure or make our situation worse?"see this forum at : http://malaysia.answers.yahoo.com/questio n/index?qid=20060711105026AA1UFhV
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Forum : Advice on consumer credit counseling?
2007-11-10 22:03:00
First comment from this forum :"My debt payments are straining my income to the breaking point. I do not want to declare bankruptcy, I am not able to secure any loans, and do not have house equity to cover my debts.The good news is I have a steady job and brighter prospects for the future.I have been advised to work with CCCS -- Consumer Credit Counseling Services -- to set up a payment plan for my debts. I have also been told of an outfit called Curadebt (www.curadebt.com) that claims to not only consolidate your bills, but negotiate some down.Do any of you have additional advice or comments on these approaches? Thank you very much."see this forum at : http://forums.kiplinger.com/showthread.ph p?t=3707
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Forum : Consumer Credit Counseling
2007-11-06 20:21:00
First comment from this forum :"I was wondering if anyone has ever used the Consumer Credit Counseling service before. If so, besides helping you get your debt paid off, was it a good experience?"see this forum at : http://forums.dmmoms.com/viewtopic.php?t= 1588
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Forum : Anyone done Credit Counseling?
2007-11-02 00:27:00
First comment from this forum :I did a search on this and couldnt find anything relevent, so Im sorry if this has been done before!Im supposed to talk to someone from the credit counseling company tomorrow, but I want to see if anyone has done this, and know if its really a good idea or not. From what I understand its a company that negotiates better rates on your credit cards, but its not a consolidation. They would cancel or lock the existing cards and wed be unable to open any new ones until its paid off. It seems like it would be paid off much faster (for about hte same amount we are currently doling out) than if we just paid as usual. Theres a monthy fee, but I think it gets put towards your total debt.Is it worth it?here is the link to this forum : http://www.mothering.com/discussions/show thread.php?t=494864
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Article : Beware of Consumer Credit Counseling - Debt Negotiators
2007-11-02 00:22:00
You've watched the TV commercials, heard the radio ads, saw the web banners and SPAM in your e-mail: "LOWER your interest rates and payments!" "Combine your bills into ONE LOW monthly payment!""We can eliminate up to 60% of your debt through negotiations!" Who are those outfits and WHAT will you get? They promise to reduce your debts and payments, often hyping their non profit status. The non profits are usually funded by the finance industry, the goal is to reduce bankruptcies. Credit ors don't want the debts discharged, they rather forgive some interest and fees and collect whatever they can. I also reviewed some of the contracts for debt negotiators and I was appalled by the outrageous fees charged to the people who would often ...
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Credit counseling
2007-10-26 20:30:00
Credit counseling (known in the United Kingdom as debt counselling) is a process offering education to consumers about how to avoid incurring debts that cannot be repaid. This process is actually more debt counseling than a function of credit education. Credit counseling often involves negotiating with creditors to establish a debt management plan (DMP) for a consumer. A DMP may help the debtor repay his or her debt by working out a repayment plan with the creditor. DMPs, set up by credit counselors, usually offer reduced payments, fees and interest rates to the client. Credit counselors refer to the terms dictated by the creditors to determine payments or interest reductions offered to consumers in a debt management plan.source : http://en.wikipedia.org/wiki/Credit_couns eling
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Common features of Debt Management Programs
2007-10-26 20:29:00
After joining a DMP, the creditors will close the customer's accounts and restrict the accounts to future charges. The most common benefit of a DMP as advertised by most agencies is the consolidation of multiple monthly payments into one monthly payment, which is usually less than the sum of the individual payments previously paid by the customer. This is because credit cards banks will usually accept a lower monthly payment from a customer in a DMP than if the customer were paying the account on their own. Some DMPs advertise that payments can be cut by 50%, although a reduction of 10-20% is more common. The second feature of a DMP is a reduction in interest rates charged by creditors. A customer with a defaulted credit card account will often be paying an interest rate approaching 30%. Upon joining a DMP, credit card banks sometimes lower the annual percentage rates charged to 5-10%, and a few eliminate interest altogether. This reduction in interest allows the counseling agencie...
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History of credit counseling
2007-10-26 20:28:00
The first credit counseling agencies were created in 1951 in the United States when credit grantors created The National Foundation for Credit Counseling, or NFCC. According to W. Patrick Boisclair, Chairman of the NFCC's Board of Trustees, "the NFCC initially monitored legislative and regulatory activity for its retail credit members" and "also conducted public awareness campaigns on credit."(source) Their stated objective was to promote financial literacy and help consumers avoid bankruptcy, but they did not serve as collection agencies for the creditors. The first local credit counseling franchises emerged in the 1960's, offering education and counseling directly to consumers. NFCC is operated and the board of directors were major retailers, like JC Pennys and Sears, that used NFCC to act as a collection agency for bad debts. In 1993, the “Association of Independent Consumer Credit Counseling Agencies,” or AICCCA, was founded, citing a need for “industry-wide standards of...
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Criticism of credit counseling (USA)
2007-10-26 20:27:00
In the late 1980s and early 1990s, the number of credit and debt counseling agencies in America increased significantly. An antitrust lawsuit was filed against the NFCC, arguing that the presence of creditors on the NFCC’s Board of Directors constituted monopolistic practices. As a result of this litigation, creditors agreed to fund non-NFCC member agencies as well. These sharp increases of credit counseling activity also created other, more serious issues in the industry. By the early 1990s, abuses by certain credit counseling organizations were so significant, it led to criticism of the entire industry. A credit counseling agency typically receives most of its compensation from the creditors to whom the debt payments are distributed. This funding relationship has led many to believe that credit counseling agencies are merely a collections wing of the creditors. This fee income, known as “Fair Share,” are contributions from the creditors that originally earned the agency 15% ...
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Cautions regarding credit counseling (Canada)
2007-10-26 20:26:00
The Financial Consumer Agency of Canada (FCAC) advises Canadians to do their homework about credit counseling services before entering into an agreement. According to the Agency, consumers should shop around and compare services of credit counseling bodies and take note of the different fee structures of for-profit and not-for-profit credit counseling, as well as what services are offered for those fees. Consumers considering entering into a DMP should also be aware that an R7 credit rating will be entered in their credit report and that their credit report will show that they used credit counseling, a notation that will remain on the report for at least two to three years. Prospective lenders, employers and landlords may view information in an individual's credit report, if the application forms consumers sign grant them permission to do so.source : http://en.wikipedia.org/wiki/Credit _couns eling
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Referances
2007-10-26 20:25:00
^ Mortgage Credit Update/HUD. http://www.hud.gov/offices/hsg/sfh/circ/d en/denhll01.cfm^ Facts about VA Loans for Veterans, FHA Loans. http://www.fha.com/faq.cfmWikipedia,the free encyclopedy

External Links
2007-10-26 20:24:00
Pension Protection Act of 2006 as it pertains to credit counseling agenciesAmerican Association of Debt Management OrganizationsAssociation of Independent Consumer Credit Counseling AgenciesBankruptcy Abuse Prevention and Consumer Protection Act of 2005, Section 106FTC Consumer Alert: New Bankruptcy Law Requires Credit Counseling Before FilingFTC explains New Bankruptcy Law Requires Credit Counseling Before FilingFTC New Bankruptcy Law Requires Credit CounselingFTC Testifies about Credit Counseling AbusesFiscal Fitness: Choosing a Credit CounselorFTC, IRS, and State Regulators Urge Care When Seeking Help from Credit Counseling Organizations(pdf) The Impact of Credit Counseling on Subsequent Borrower Credit Usage and Payment BehaviorIRS Revoking Exemptions Of Credit CounselorsNational Foundation for Credit CounselingUS Trustees list of approved credit counselers for BankruptcyUS Trustees list of approved providers of Personal Financial Management Instructional Courses (Bankruptcy Edu...
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Article : Consumer Credit Counseling Services
2007-10-26 20:21:00
By Cindy Holbrook Real Estate Plus Editor Does the dream of owning a home seem impossible? Are you struggling to make ends meet? Are your bills bigger then your paycheck? Are you only able to make the minimum payments on your credit cards? Consumer Credit Counseling Service (CCCS) a local, nonprofit credit counseling agency, can help you solve your credit and debt problems. Our certified credit counselors can show you how to take control of your money and achieve your financial goals. Consumer Credit Counseling Service is a program of Lutheran Social Services of Mid-America and a member of the National Foundation of Credit Counseling. Debt Management Program - Get out from under you financial burdens and set a course for a debt-free future through our Debt Management Program. The first step is to contact us by phone, email or website. We will send you a worksheet to complete, which includes your income and expenses, and a list of your creditors. Then contact us for an appo...
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Article : Who needs Consumer Credit Counseling?
2007-10-26 20:19:00
by Randi FoerdeIn fact, I think everybody could need Consumer Credit Counseling. All who have to deal with money in our complicated society could need to have a talk with a credit counselors at a Consumer Credit Counseling Agency . And that�s the most of us, is it not? For some, not because they are in trouble, but to be sure they never will be. For others, they are already in trouble with their finances, and will sure need some help. If it is not to late.There are many out there who want to sell you Consumer Credit Counseling services. Before you choose one, ask what they cost? If you are in financial difficulties, don�t get deeper because you are getting services that cost you to much, more than you can pay.Since the late 80s and early 90s, the number of credit and debt counseling agencies in America increased significantly, and many of them are not working for their clients first, but for themselves, second for you. As the marked of people with money problems grows, so do the...
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