Consumer Credit Counseling Services

Consumer Credit Counseling Services are businesses that provide financial consulting services to their clients. If you decide to pursue bankruptcy as a debt relief option, bankruptcy statutes will require you to take a bankruptcy education course and explore debt management with a CCCS.

Often the term “CCCS” is used synonymously with “debt management”, although debt management really refers to the debt relief option available through a CCCS. Debt management programs offered by CCCS organizations are similar to debt management programs offered by firms other than Consumer Credit Counseling Organizations. The CCCS will help you develop a debt restructuring plan for your creditors and attempt to negotiate a lower interest rate with your debt. If the plan is approved you make a single payment to the CCCS who disburses to the creditors.

Working with a CCCS is like working with any other business – the quality of service will vary with the size of the organization, their experience and their dedication. As such, it is important to investigate the business thoroughly before you entrust your financial well being with that organization.