CCCS and others. Can they help

RE: CCCS and others. Can they

CCCS puts you on a budget to pay your bills. They do negotiating with your debtors to come up with a payment plan. I don't know if they settle for less or anything like that. But I have heard from various sources that it doesn't look good to have CCCS on your credit report.

 

RE: CCCS and others. Can they

I think experiences vary, but I generally hear very negative things about these companies. The three credit bureaus have a stake in the large ones--strike one, and I've heard of people who have it reported on their CRs that they are in these counseling arrangements--which is a negative mark.

At the beginning of trying to get a mortgage, I was advised that if I chose to use one of these companies, I would never get a mortgage while I was still under the arrangement. A coworker of mine tried to refinance a car and was denied because she is in one. She was told that getting in a credit counseling arrangement screams to the whole world--Hey, I have trouble paying my bills.

So if you've got plenty of time and don't plan to try to get or use credit while you are in counseling, it might work out.

But you can do all of this on your own, and you can negotiate with creditors to bring down the amount you owe. You just need to educate yourself on how to approach them, be patient, and go for it. carreonandassociates.com and creditinfocenter.com are good places to start. They are full of advice on how this works.

I have found the best piece of advice I've gotten off this board and others is that you negotiate not just for the amount of money you pay, but also for what is being reported on your CRs. There's little difference between a "paid charge off," "settled charge off," or a regular charge off with a balance due. They are all negative. Ask for a deletion, a more positive mark, or as a last resort, a neutral mark.

Hope that helps.

CC