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Consumer Credit Counseling
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Consumer Credit Counseling / Consumer Credit Affiliates is a non-profit United Way organization offering free financial consumer credit counseling and education. Creditors are usually very cooperative with CCC/CCA, waiving or reducing finance charges and late fees, reducing payments and/or bringing past due accounts current. . . because you have taken the initiative to seek CCC/CCA's professional guidance.
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In principle Consumer Credit Counseling can sound quite good, until you dig under the covers. Many people don’t bother to dig they just accept what is said to them. Big mistake – Actually huge mistake!
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CCCS professional counselors offer individual, confidential advice for developing budgets, managing money, using credit wisely and building a savings plan. Counselors will review a person's financial situation and help determine the best possible financial strategies. The counselor will offer solutions to a person's current financial problems, as well as personalized plans for preventing financial pitfalls in the years to come.
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Federal law requires that anyone filing for bankruptcy first receive credit counseling, while people already in bankruptcy must take a two-hour personal financial management course before they can be discharged from bankruptcy. Erickson says this applies to any person filing for a chapter 7 or chapter 13 bankruptcy beginning March 10, as well as people filing to be discharged from bankruptcy beginning on that date.
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Nixon ... said AmeriDebt falsely claims it will "negotiate" with a consumer's creditors to get the best terms and lowest interest rate. Creditors dictate to AmeriDebt, in advance of the consumer contact, what interest rates and terms will be given to consumers, Nixon said.
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The other counter argument is that a consumer s financial wellbeing is not always directly tied to their credit score and maintaining a credit score at the expense of basic needs is harmful to the consumer and the consumer s family. Credit cards would offer the best protection- especially American Express. Recent Gomez consumer research indicates that customers place high value on the ability to make same-day payments.
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Consumer Credit Counseling