When choosing a consumer credit counseling service, it’s important to do your research to make sure you’re getting the best possible advice. Consumer Credit Counseling Springfield MO can provide you with unbiased advice and help you create a realistic budget.
What is CCCS?
Consumer Credit Counseling Services (CCCS) is a short form of Consumer Credit Counseling Services. Consumer credit counseling service providers are IRS-designated 501(c)(3) charity organizations that can help you with your financial problems.
Each CCCS organization provides a set of similar services, such as financial education, budgeting support, and debt management programs.
Credit counseling and the National Foundation for Credit Counseling (NFCC)
Credit was established as a nonprofit credit counseling organization under the auspices of the National Foundation for Credit Counseling (NFCC).
The organization has now evolved into a market leader in debt reduction and financial education.
Credit continues to utilize well-trained, specialist coaches to assist consumers in answering credit inquiries and handling credit difficulties today to provide Americans with the aid they need to address their financial problems.
History of Consumer Credit Counseling Services
The National Foundation for Credit Counseling (NFCC) was established in 1951 to raise credit and financial literacy awareness.
This was in response to the increasing use of credit cards and the establishment of the credit card industry.
As a new service for people getting their first credit card, the NFCC began offering nonprofit credit counseling.
Individual CCCS offices quickly sprung up around the country.
Although the different CCCS offices functioned autonomously, they were all managed and supervised by the NFCC.
Are all CCCS agencies nonprofit?
While some CCCS agencies remain members of the NFCC, others have broken away and charted their course.
These CCCS agencies, which operate separately, are IRS 501(c)(3) nonprofit organizations.
What exactly is the FCAA?
As an alternative to the NFCC, the Financial Counseling Association of America (FCAA) was created in 1993. The FCAA focuses on contemporary technology and offers therapy via the phone and online.
As a result, credit counseling firms may cover a broader geographic region.
CCCS agencies may be members of the NFCC or the FCAA, but they are not required to function under the auspices of either organization.
Free Financial & Credit Education
Consumer Credit Counseling Services provides free financial and credit education to assist you in achieving financial independence.
Do you ever wonder where your money disappears to?
Do you live from paycheck to paycheck?
Do you have a strategy in place to deal with financial crises like medical costs or expensive auto repairs?
Our licensed financial advisors will assess your financial status and seek methods to develop a budget appropriate for your financial objectives and lifestyle.
We’ll give you advice and pointers on making your money go further. An appointment can be made in person or over the phone.
Debt Management Program
Are you seeking a risk-free path out of debt?
A debt management program might be ideal for you. Our debt management plan might assist you in repaying your unsecured debt. Unsecured debt, which includes credit cards, medical bills, and school loans, is not secured by collateral.
We will analyze your monthly income, monthly living costs (budget), and debts during your visit with one of Consumer Credit Counselling Services’ trained counselors.
We will collaborate with you to develop a debt management strategy to repay your debt. If you want to engage in the plan, we will negotiate with your creditors to lower your monthly payments.
Payment plans often allow you to pay off your debt in three to five years. In rare circumstances, we can reduce or eliminate financial costs (interest).
Credit Report Review
Wouldn’t it be nice to have a firm grasp on your credit report? Consider having your credit report reviewed. Our licensed experts can help you acquire a copy of your credit report.
Your counselor can assist you with any queries you may have and discover factors such as mistakes or fraud that are reducing your credit score and costing you money.
You may also find out how to challenge incorrect information on your report.
Also Read: Letter of Credit on Standby (SLOC)
Bankruptcy Pre-Discharge Education
Money in Motion fulfills the pre-discharge bankruptcy education requirement. This course provides you with the knowledge you need to manage your cash and credit confidently.
Budgeting, your credit report and credit score, creating financial objectives, and managing your financial records are all covered in this eight-chapter course.
You’ll also learn how to deal with financially tricky situations. By putting everything you’ve learned in Money in Motion into practice, you’ll have the tools you need to get your financial life back on track following a bankruptcy.
Credit Education/Financial Seminars
Consumer Credit Counseling Service places a high premium on credit education and financial education. CCCS provides a variety of financial seminars and credit education courses to help us educate individuals and families before an issue arises.
Budgeting, Credit Cards (and other loans), Consumer Rights, and Establishing and Building a Better Credit Record are all topics covered in our seminars.
These workshops are held in public and private schools, universities, religious groups, civic clubs, and trade and business organizations.
We also offer an online self-study course to help you gain the information you need to stay on track with your money and credit.
Completing this $50 course will allow you to add a positive note to your credit report, which will not raise your credit score but notify you that you have finished a national standardized credit and financial education program.
Foreclosure Prevention & Housing Counseling
Foreclosure Prevention Counseling
Consumer Credit Counseling Services can assist you if you are a homeowner facing foreclosure and your house is in jeopardy. Our professional team will do a financial analysis and advise customers on avoiding foreclosure.
Before taking the plunge into homeownership, prospective buyers might benefit from a tailored financial evaluation, which can help them get a cheap interest rate based on maintaining a solid credit history.
A professional counselor may review your finances, do a credit check, and give recommendations for credit improvement.
Purchasing a home is most likely the most extensive and most costly purchase you will ever make. Exploring our homebuyer education guide before becoming a homeowner will assist you in getting the most incredible house for your money.
Make Your Move… A Guide to Homeownership course will teach you the terminology used in the home-buying process, as well as the specialists you’ll be working with and the paperwork you’ll need to finalize your loan.
You’ll find out what to expect when you go through looking for and purchasing a property. You’ll discover how to obtain the most excellent bargain and avoid unscrupulous lenders. When you complete the course, you will be given a certificate.
Our online counseling curriculum is a quick and easy way to get started. You will be asked to provide personal information to help us better understand how we can support you.
After reviewing the information you have provided, a professional counselor will call you – either by phone or in-person – to finish the credit counseling session.