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The
consumer credit counseling service, CCCS,
is actually part of a larger agency called the National Foundation
For Consumer Credit (NFCC). Their main office is: 8611
Second Avenue, Suite 100
Silver Spring, MD 20910
800-388-2227
The
(CCCS) is a nonprofit organization
funded by credit card companies with the primary purpose of helping
people with financial difficulties.
The number for the local CCCS can be found in the yellow pages or
by calling directory assistance.
When
you call the CCC they will assign you a credit counselor.
The credit counselor will: (1) meet with you, (2) review your
situation and consolidate your debt into one monthly payment and (3)
negotiate on your behalf with creditors 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. Benefits: No
bankruptcy on your credit report, one monthly payment and no required
legal fees. Drawbacks:
Often long payback period (several years or more), monthly payments may
be very high and you often cannot use any credit cards until the
payments are over.
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