Consumer Credit Counseling Service (CCCS) and most other credit counseling agencies are accredited by the National Foundation for Credit Counseling. Each is a non-profit organization funded by the clients they serve, and by fair-share arrangements made with creditors for their help in the collection efforts.
CCCS and other agencies work with the client (debtor) in the following areas:
Counseling – Plans for becoming debt free, by doing more with what you have.
Debt Management Plans – Helping those severely in debt to work with creditors to reduce the monthly payments of debt service and stop collection efforts.
- Money Management Education – Teaching the wise use of credit, budgeting and setting financial goals.
CCCS will not do credit repair, or anything that might give the credit bureaus headaches.
By turning to a debt counseling program you will be raising a red flag to prospective credit grantors. If you leave CCCS before you have completed their program, they may list your failure to complete the program as a negative listing on your credit report.
Paying your debts, through whatever method, is a step in the right direction, but it will not restore your credit.
You may also find these pages of interest: