Consumer Credit Counseling

They are the well known names, the highly-recognized faces, the well-known personal financial experts. Suze Orman, whose sage and thought-provoking advice is followed by millions via cable television, countless books, guest appearances, and speaking engagements. Orman, on-record as a proponent of consumer counseling agencies, believes some debt-situations are best served by going the CCCS (consumer credit counseling) route. Suze is everywhere these days and arguably one of the best.

Clark Howard: well-known, a highly respected financial authority gives advice on money, investing, personal credit, debt management and many things debt-related. Respected and trusted by Americans at all socio-economic levels, Mr. Howard's advice brings clarity, credibility and candor to complicated personal finance issues.

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With an economy in free-fall and millions struggling to pick-up the pieces of their financial lives, the demand for consumer credit counseling reviews has never been bigger. Looking for answers, seeking solutions, the Internet has become the consumer bulls-eye for debt settlement queries - from the more secular-segment of mainstream-America, spear-heading online inquiries into debt settlement, to statistically significant religious groups seeking online and media reviews for Biblically-based Christian consumer credit counseling.

Clearly, the search is on for debt relief options that are proven and tested.

Consumer Credit Counseling - CCCS, The Basics.

Seems obvious, but what exactly is consumer credit counseling? Let's start with the intended CCCS end-results: To pay IN-FULL the entire debt and do so in a way which is both affordable and convenient for debtor's deciding to take the higher, some might term, "more honorable" road to recovery. And while a decision to take the "higher road" is a noble one, it's a strategy which also seeks BETTER TERMS, including the lowering of interest rates charged, the waiving and forgiveness of certain fees and penalties, the consolidation of unsecured debt and perhaps most important of all during the process: the creation of one manageable monthly payment.

Debt-Management Plan

The shortest path between any two points is a straight-line. It's true in geometry; it's true in debt-management. No straighter-a-line to be found in debt-management than the one heralded by top-notch CCCS planners - the so-called Debt Management Plan or DMP. Followed properly, this disciplined approach promises to help the most hopeless among us, getting those off the debt treadmill, ripping through the financial straight-jacket, freeing those who choose a debt management plan from the agony of long over-due, burdensome debt, and doing it in three to five years. And while degrees of success vary and won't happen for everyone, the choice of paying-off debt FULLY can have a more positive effect as it helps create - over time - a more favorable credit history.

Keep in mind the job of credit counseling agencies is not to improve credit scores, it is to help consumers reduce debts and regain control of their finances. However, while "credit counseling" notations will often appear in credit reports, individuals already deeply in debt who pay down their debt amounts generally will improve their debt-to-credit-limit ratio and that can have a positive impact on one's credit score.

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Unsecured Debt

Getting to zero-debt status is do-able. Reaching that lofty goal means getting every debilitating chunk of unsecured debt under control. Un-secured debt includes not just credit cards, but doctor's offices, hospitals, clinics, utilities, club memberships, cellular phone bills and others. Choosing the CCCS route also means that a structured payment is distributed on the debtor's behalf, insuring the plan and goals are adhered to. For those interested in debt consolidation, credit counseling can be a wise, efficient, and strategic plan to go with. If the consumer is faithful on a well-structured plan, the outcome is predictable and successful. On the other hand, if the consumers does not adhere to the plan, results will not be achieved and, in fact, creditors may revoke benefits that have been previously granted such as lower interest rates. The lesson is: If you get on a debt management plan via a credit counseling service, STICK TO THE PLAN, set aside the predetermined amount you need each month to be successful. In doing so, you can get off the debt-for-life treadmill, and in the end, this can save you a considerable amount of money and stress.

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