Consumer Credit Counseling

Consumer Credit Counseling Services 

What exactly is CCCS?

Consumer Credit Counseling Services (CCCS) is an acronym for Consumer Credit Counseling Services. Consumer credit counseling service companies are IRS-designated 501(c)(3) nonprofit organizations that may assist you in finding a viable financial solution. Each CCCS organization provides a consistent range of services, such as financial literacy, budgeting help, and debt management programs.

 

The National Foundation for Credit Counseling  (NFCC) and ConsolidationNow

 

Under the auspices of the National Foundation for Credit Counseling, ConsolidationNow was established as a non-profit credit counseling organization (NFCC). The business has now evolved into a prominent debt reduction and financial education organization. 

ConsolidationNow continues to employ well-trained, specialist coaches to assist customers in answering credit inquiries and handling credit issues, intending to provide Americans with the support they need to address their debt problems.

Consumer Credit Counseling Services Have a Long History

The National Foundation for Credit Counseling (NFCC) was established in 1951 to raise credit and financial literacy awareness. In reaction to the growing use of credit cards and the development of the credit card industry, this was done. For individuals getting their first credit card, the NFCC started providing nonprofit credit counseling as a new service.

Individual CCCS offices sprang up all across the nation shortly after. Despite the fact that the CCCS offices were run autonomously, they were all part of the NFCC’s overarching structure and supervision.

Are all Consumer Credit Counseling Agencies Charitable?

While some CCCS organizations are still affiliated with the NFCC, others have broken away and charted their course. These CCCS agencies are IRS 501(c)(3) nonprofit entities that operate independently.

What exactly is the FCAA?

As an alternative to the NFCC, the Financial Counseling Association of America (FCAA) was established in 1993. The FCAA focuses on some of the most recent technology and offers phone and online therapy. 

As a result, credit counseling organizations may cover a larger geographic region. CCCS agencies may join the NFCC or the FCAA, but they are not obligated to function under either organization.

Who is ConsolidationNow, and what does it do?

ConsolidationNow is a 45-year-old non-profit credit counseling service organization registered with the National Foundation for Credit Counseling. The organization has the resources necessary to assist customers with debt and credit counseling. ConsolidationNow has maintained an A rating with the Better Business Bureau throughout the years, demonstrating its commitment to customers.

ConsolidationNow is a non-profit credit counseling agency affiliated with the National Foundation for Credit Counseling (NFCC).

ConsolidationNow offers a variety of credit repair services.

Get started with a credit counselor for free now if you need assistance getting out of debt quickly or improving your credit.

Now is the time to start working with a credit coach.

What are Debt Management Plans, and how do they work?

ConsolidationNow offers Debt Management Plans in collaboration with non-profit credit counseling organizations (DMPs). These programs combine a consumer’s unsecured credit and debt obligations into a single monthly payment that is easy to manage. 

Concessions from your creditors, like lower interest rates or the removal of late fees, are some of the benefits of having a Debt Management Plan.

  • A single payment to all of your creditors once a month.
  • Total monthly payments are lower.
  • Lower interest rates
  • Budgeting assistance on a one-on-one basis

At the minimum monthly payment, a typical credit card is intended to take 20-30 years to pay off.

DMPs may be paid off in as little as 4-5 years, allowing you to get out of debt considerably quicker than you could with conventional techniques.

Clients of credit counseling benefit from a free, private session that provides them with a realistic budget and professional guidance on managing personal finances and debt reduction over time, even if they do not have a DMP.

 

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