A
Consumer Credit Counseling Service
At
first glance using a consumer credit
counseling service looks like a good
alternative to the collection calls...
From: Kate
Rieger
Corydon, Southern Indiana
Friday 08:40am
Kate Rieger
Understand the shortcomings of CCCS
|
A consumer credit counseling
service provider advises consumers
on the various ways they can clear
their debt without resorting to
bankruptcy. A perfect client
is someone who ran up a huge credit
card debt and is now falling behind
in payments.
A Consumer Credit Counseling
Service (CCCS) reviews all your debt
and then negotiates payments with
your creditors. In some cases
they get lower the
minimum monthly payment and in
others they may actually get the
debt reduced.
If you go into one of these
businesses you can expect this
process...
-
An advisor talks to you to
determine how much you can
afford to pay each month.
-
Then your advisor negotiates
with your creditors, getting
them to accept lower monthly
payments or to reduce the amount
owed.
-
You must sign an agreement
to not obtain any new debt until
the current debt is paid off
-
You make a single monthly
payment to CCCS
-
CCCS pays your creditors
Just what the doctor ordered right?
The problem with this service is that
your creditors still report you as late
to the credit reporting agencies.
Yes. Even though they agreed to a
reduced monthly payment they still
report you late. So over the
months and years you are in this program
your credit score continues to sink.
You continue to show 30, 60, and 90
days late for these accounts.
Why? Because you are not making the
minimum payment as defined in your
original agreement with the creditor. If
you pay less than the minimum payment, a
creditor has the right to
report you late, because you didn’t make
the full payment on time.
CCCS usually does not get the
creditor to agree to report you as
paying on time. If they do, they
fail to get it in some written agreement
that you can hold the creditor
accountable.
Consumer Credit Counseling Service
has offices inmost every city in
America.
There are some alternatives to this
service and you'll read about them in a
future lesson.
If you are
interested in starting your own credit
repair today all you have to do is
enroll in my free online mini course
called
"Extreme Debt Reduction & Credit Score Boosting Strategies That 98% Of Borrowers
Will Never Know -- And How
You Can Learn These Strategies Too..."
The course has 7 easy-to-follow lessons that you can refer back to at any
time. You'll also be included in my exclusive newsletter available only to
those who sign up today. To
start this free, online mini-course, please complete the short form below
and you can start immediately -
Yes Kate - I
want to start today!
What others are saying...
Hi Kate,
I do want to thank you so much for your quick and thorough responses to my questions. I am amazed at the amount of information you manage to deliver. Your
program is terrific.
You give an awful lot of personal attention that can never come from a computer
program.
Thanks for everything - I mean it!
Melissa
Louisville, KY
__________________________________________________
Dear Ms Rieger,
God Bless You!
You treated me like I was someone
important. I thank you for that and for showing me how to improve my FICO
scores. You are truly amazing!
Sincerely,
Roberta D.
Jeffersonville, IN
__________________________________________________
Credit Rejuvenations Rocks!
Dave
|
Recent Consumer Credit Counseling
Articles
|
|
Consumer Counseling
Credit Service – Knock Out Debt
If you are interested making efforts to knock out your debt, you
might want to consider hiring a consumer credit counseling service
to help you. But read this article as all isn't as rosy as it
sounds, Read more... |
Know the Consumer
Protection Regulations
A department of the Federal Trade Commission is the Bureau of
Consumer Protection, and its “mandate is to protect consumers
against unfair, deceptive, or fraudulent practices...Read more... |
P.P.S.
Remember, if you haven't done it yet, make sure you
get your free Special
Mini-Course entitled "Extreme Debt Reduction &
Credit Score Boosting Strategies That 98% Of Borrowers Will Never Know --
And How You Can Learn These Strategies Too..." by completing
the sign-up form above.
Warmest Regards,
 |
