I am currently using CCCS, but considering stopping their services and paying my cc bills on my own. If I stop their service, will this have a positive or negative effect on my credit report? Or no effect at all? I have been using CCCS for about 1 year.
IF YOU STOP CCCS...you will be helped TONS...but only if you don't have any mention of CCCS on your credit reports... BUT--ON THE DOWN SIDE...you may not get any DEALS from the credit card companies...they may JACK YOU UP TO LIKE 25%+
Check the fine print with your cccs aggrement.They do charge for their service.If you stop you may owe them.I did it for a year.Big mistake.Ended up filing BK7. Should have done that to begin with .It would have saved me a ton of money.
Re: Re: CCCS or NOT???? I disagree! I was on on CCCs for 3 years. Towards the end of my payments, I got a car loan for 14% (went down to 8% 6 mos later). I also got tons of credit cards at terrific interest rates. But then I filed bankruptcy 8 years later... go figure.
Re: Re: CCCS or NOT???? How did you get your car rate down to 8% in 6 months? Did you re-finance? I got a car at 10.25%, and would love to get it down. I am still with CCCS and have been for over 1 year, my balances are really getting low. Any advice?????
Re: Re: CCCS or NOT???? One of the stipulations when I bought the car was that I had to pay off the rest of my creditors that were being paid by CCCs. I then refinanced with a credit union through my work. I don't see how it could be worse to pay off your creditors over a longer period of time rather than ditch paying them altogether. It just doesn't make sense.
Re: Re: CCCS or NOT???? Another ??? Did you buy a new or used car? I heard it was difficult to re-finance a used car. Do you know if that's true? I got my used car through a CU also, I would love to re-finance, if I have a good shot.
Re: Re: Re: CCCS or NOT???? **JUST FROM PEOPLE "IN THE KNOW" BK IS BAD...BUT CCCS IS REALLY, REALLY BAD
Re: Re: Re: CCCS or NOT???? At least my conscience was clear during my CCC days. I borrowed money and I paid it back. It was a used car (3 year old Toyota Celica) and the credit union refinanced the loan at a lower interest rate.
Re: Re: Re: CCCS or NOT???? How many times are the same lies going to be posted. Anyone who has actually been on CCCS and completed it, knows that any credit counseling remarks are removed by creds because R5 rating is only reported while on CCCS. CCCS isnt worse than Bankruptcy because it 1)doesnt continue to be reported as long as you complete or withdrawl correctly 2)Isnt factored by FICO, so people who had good credit and keep up on their pmts can get car and mortgage loans while on credit counseling 3)wont get you raped on APR's like that BK on your credit report. It's one thing to be ignorant, but something else to speak as if you are the resident expert on a topic you have no knowledge about.
Re: Re: Re: Re: CCCS or NOT???? I HAVE NO FIRST-HAND KNOWLEDGE OF CCCS OTHER THAN WHAT I HAVE BEEN TOLD BY PEOPLE "IN THE KNOW" IT WOULD BE ILLOGICAL FOR ME TO USE CCCS...BUT I CAN BE BASHED FOR REPEATING WHAT OTHERS HAVE SAID???
Re: Re: Re: Re: Re: CCCS or NOT???? Actually you can be. What you are passing along as truth is misinformation. You sound like a CRA rep that tells you that there's no way to remove derogs off of your credit report and your only hope is to what for it to fall off after 7 yrs. This is the prevailing thought amongst the ignorant, but people who are really "In The Know" laugh at this statement.
