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The
Consumer Credit Counselling Service (CCCS) is a nonprofit organization
funded by credit card companies to help
people with financial difficulties.
The
consumer credit counseling service, is actually part of a larger agency called the National Foundation
For Consumer Credit (NFCC) located at:
8611
Second Avenue, Suite 100
Silver Spring, MD 20910
800-388-2227
Local CCCS
divisions can be found by calling directory assistance.
When
you call the CCCS they will assign you a credit counselor.
The credit counselor will meet with you and review your
situation. They will help you consolidate your debt into one monthly payment and
negotiate on your behalf with creditors. CCCS will work to try and lower interest
payments and make your payment plan affordable.
If you can afford the new monthly payments and are willing to
continue the payments for several years or more this may be a good
option.
Here is the positive side:
Here is the negative
side:
-
An extended payback period (several years or more),
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Monthly payments may
be very high, and
-
You often cannot use any credit cards until the
payments are over.
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