CCCS question -- good or bad?

iVillage Member
Registered: 09-28-2007
CCCS question -- good or bad?
9
Wed, 08-20-2008 - 8:42pm

hi everybody,


i've been trying more aggressively to get my CC balances down and am considering my options. about a year ago, i had an introductory session with springboard, a nonprofit i found through consumer credit counseling services' web site (which i found through one of suze orman's books). i decided not to go with them, but am now rethinking that.


i was browsing one of dave ramsey's books the other day, and i could've sworn that he said something about NOT signing up with one of these places because it'll wreck your credit score/history. does anyone know if this is true or not? i figured CCCS is pretty well-known, not as shady as other orgs, but is there a risk if i do enter into an agreement with them?


thanks in advance for your help.

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iVillage Member
Registered: 04-26-2007
Wed, 08-20-2008 - 8:48pm

I've recently started a debt mangmnt. program with Money Management International. One of my cards was just closed (they tell you to close them all for the plan) and the CC said they are just reporting us as using a debt management company, that's it. Just neutral, not negative. Also, MMI said if we apply for a car loan or home loan the lender would just require a letter from MMI regarding our situation. I HIGHLY advise going with MMI. It takes a while to get started because you have to tell them all about your finances and CC's and then fax them all the statements. You have online access to your account to see everything that's going on, your balances, payments, etc.
The credit cards will lower the interest rates to 2% or so and it really helps a lot. We will be CC debt free in 4 years using this company. They charge about $35 a month, but it's worth it. Any more questions, please ask me. You can google them to see all the info.

good luck

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iVillage Member
Registered: 11-17-2007
Thu, 08-21-2008 - 12:56am

Just remember to ask what date the company sends out their checks. Then call your cards and change the due dates with them to at least be 10 days after the company sends out the checks That way you are never late with your payments.


So many people do not do this and that is where the major problems start. The CCCS is

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Thu, 08-21-2008 - 8:29am

Hmm - I swear that I have heard Dave Ramsey say over and over again that he doesn't give a rat's patuttie what happens to one's

All my best,
Danni

iVillage Member
Registered: 09-28-2007
Mon, 08-25-2008 - 1:09am

i only did a quick browse-through of ramsey's book because i had to return it to the library, so maybe i misread. or maybe it was one of those "don't ever go through such an organization because it only solves the symptoms, not the problem" type of thing, like you said.


but ITA with what you said about the interest rates. they're in the double digits, and it's killing me. i can make the payments fine, but i make

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iVillage Member
Registered: 09-28-2007
Mon, 08-25-2008 - 1:10am
thanks for the tip about the due dates. i hadn't thought about it that way. makes total sense.
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iVillage Member
Registered: 08-26-2008
Tue, 08-26-2008 - 12:39pm
Hi, my name is Vernasha and I've been a certified credit counselor
iVillage Member
Registered: 07-11-2008
Tue, 08-26-2008 - 5:08pm
are you in the states? i'm wondering if i could email you my info to see what you could do for me. i'm in canada though.

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iVillage Member
Registered: 08-26-2008
Wed, 08-27-2008 - 9:31am

I am in U.S,but you can e-mail your info to me at sloanvernasha@yahoo.com to see if I can help. All I need is the name of the creditor, the bal , the current int rate, and If your current or behind.

iVillage Member
Registered: 12-09-2005
Wed, 08-27-2008 - 2:29pm

Does closing your accounts effect your credit score?