Credit counseling organizations offer help to those whose debt has gotten of control or who are struggling to find ways to meet their financial obligations. The Consumer Credit Counseling Service (CCCS) is an Atlanta-based nonprofit entity that helps those who are struggling with debt find a solution that is tailored to their particular situation.
About Consumer Credit Counseling Service
Consumer Credit Counseling Service has 33 brick-and-mortar offices in four U.S. states (Georgia, Florida, Mississippi and Tennessee). CCCS also provides services to clients over the telephone or Internet. CCCS is a member agency of the National Foundation of Credit Counseling, or NFCC. The financial experts at Credit.Com indicate that association with the NFCC is desirable when seeking out a reputable credit counseling organization. CCCS has third-party accreditation through the Council on Accreditation, which is another desirable feature for those seeking credit counseling services.
Services Offered
CCCS offers a variety of services, including budget, housing and bankruptcy counseling, as well as money management education programs. CCCS also offers debt management plan (DMP) enrollment to its clients, which is a strategic way of slowly paying down out-of-control unsecured debt. CCCS does not purport to be in the business of credit repair, nor does it offer credit card debt negotiation (debt settlement).
Debt Management Programs
CCCS manages its DMP as described by the NFCC website. A DMP addresses a client's outstanding unsecured debts, namely those accrued by using credit cards, but can also include other types of debt, such as medical bills. Upon enrollment in a DMP, CCCS notifies the client's creditors of his or her participation and will negotiate a payment plan with the creditor. The NFCC notes that in some cases a creditor may lower interest rates on the debt or waive late fees and other charges to make it easier for clients to pay down the account balance. Clients make a once-monthly payment to CCCS, who then makes payments directly to the client's creditors. As with DMPs offered through other credit counseling organizations, CCCS requires clients to refrain from seeking out new credit while enrolled in a DMP. CCCS notes that most DMPs take between three and five years to complete.
Funding and Costs
CCCS is funded through various sources, including grants, contributions from the community, service fees charged to clients, investment income and DMP client and creditor contributions. According to the website, budget counseling is free of charge, but there is a small set-up fee and monthly service fee charged to those who enroll in DMPs, the amount of which depends on the client's location.
Contact Information
CCCS has open phone lines seven days a week and can be contacted at (800) 251-2227. Initial telephone and in-person counseling sessions are free. CCCS also offers online credit counseling services through its Internet site. However, Credit.Com urges clients to work with a credit counselor in person when they first decide to tackle debt problems. Call (800) 388-2227 to locate a member agency of the NFCC with a brick-and-mortar presence in all 50 U.S. states.
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