Consumer Credit Counseling??

[golfgirl3613]

Has anyone had a helpful experience with Consumer Credit Counseling? I have been unemployed for 13 months, and finally start a new position in January, but I am so behind on my CC payments, I need serious help catching up, or going bankrupt. Anyone have any luck with the Counseling because I would really hate to file bankruptcy?

 

[Chicago526]

Try posting this question on the Budget Board, several people there have gone through it. But the consensous seems to be that it is okay ONLY if you go through CCCS (a program run through the United Way). A lot of the other companies out there range from bad to down right scams. But CCCS does what they promise and can be a big help.

 

[DisneyWisher]

I've never used them but it would be CCCS through the United Way if I did. Too many Scams out there, even if you have to file for bankruptcy you will have to go to CCCS so that they can help you make sure it doesn't have to happen again.

A huge congrats on the new job.

 

[taylor3297]

Consumer Credit Counseling was a saving grace for me many moons ago. I highly recommend using them if you don't want to deal with the credit card agencies yourself.

 

[minkydog]

My DH is retired from Equifax, one of the Big Three credit bureaus. He highly recommends Consumer Credit Counseling. He says do NOT go with a company who offers to "fix your credit", for a large fee of course. Nobody can fix your credit, but CCC can go to bat with your debt holders and often can negotiate better terms. They will require that you follow their program, but in the end you will rebuild your credit-worthiness. Call them.

 

[erincon23]

SEveral years ago, we were not yet behind, but were in serious debt. We went to CCCS, they worked with us to understand the debt we had, and then went to our creditors and worked out arrangements for zero- or low-interest repayment -- we repayed all the debts in full. We had a very minor drop in our credit score -- so minor that shortly after that, we were able to buy both a new car and a new house with no problems and excellent credit. We had a fixed payment amount with a small amount added to cover CCCS's cost, we sent the payment to CCCS each month, and they faithfully made the payment for us. We paid it off quickly and painlessly.

More recently, we went back to them with a much larger problem (due to some job losses), and they helped us determine what to do to manage this debt. I think they have always been fair, reasonable and understanding -- not judgmental, but always realistic. I would highly recommend them, especially if you feel stressed by your debt problems -- we felt that they helped us relieve our stress and get us on the right path.

Erin

 

[Free4Life11]

I'm interested to know if this still works. I know most banks seem VERY adamant that they WILL NOT waive late fees, etc. no exceptions. Not to mention they are all raising rates.

Do they still work with CCCS?

 

[taylor3297]

Banks would rather negotiate terms with CCCS than for someone to file bankruptcy. At least with CCCS the banks will get most of the money (depending on adjusted interest rates etc) where if someone files bankruptcy (depending which chapter a person files) they may receive no money.