Question:
What types of fees do you charge?
Answer: There are no fees involved
in our service; instead we ask for our clients to voluntarily help
support our agency depending upon the amount of assistance that is
required. For free a counselor will review your entire financial
situation, first reviewing your income versus expenses, then at your
assets versus liabilities, then finally at your debts and what kind of
savings a debt repayment may provide for you.
The counselor will then make a recommendation as to which of the five
principals your situation requires. If the service you need is something
our agency offers then the counselor will at that time tell you what
kind of tax-deductible contribution we would request for your particular
situation. If we do not have the service you need then we will refer you
to another agency that might help.
Back to topic list
Question:
I thought you were a non-profit organization, why
do you even need a contribution?
Answer: Unfortunately we are not
able to support our services by outside contributions alone, and must be
assisted by the clients we serve.
Furthermore, in most cases the contribution we request is easily less
then the money savings Community Credit Counseling Specialists'
assistance is providing.
Back to topic list
Question:
Will my credit cards be closed or cancelled?
Answer: As part of your enrollment
in our Debt Management Plan, your creditors will close your cards and
you will be unable to use them. This practice prevents clients from
accumulating additional debt, while they are working to pay off their
balances.
You may however close your accounts in advance of our notification of
your creditors and have it show on your credit report that the account
was “closed by consumer”. This is only effective if you are not
currently delinquent with your accounts.
Back to topic list
Question:
Will I be able to re-open my credit card
account(s) once I have paid off my balance?
Answer: Creditors generally do not
re-open closed accounts. However, with a good payment history through
our service you should be able to get new accounts opened with the same
creditors.
Back to topic list
Question:
Do I have to have a minimum amount of debt to
be enrolled?
Answer: We do not require a minimum
amount for a client to be enrolled; we are here to assist regardless of
the amount.
Back to topic list
Question:
Where are you located/ how long have you been
in business?
Answer: Community Credit Counseling
Specialists, Inc. was established in 1982 making us one of the area's
oldest credit counseling agencies and our companies officers/managers
have over 100 years of combined service in the credit counseling
industry.
Back to topic list
Question:
If I enroll, how long will it take for me to
see reduced interest rates and eliminate late fees and over-the-limit
charges?
Answer: During the first month that
you are enrolled in the Debt Repayment Plan, we will contact each of
your creditors and/or collectors by mail or fax. The letters we send are
called “proposal letters” and request reduced interest rates or lower
payment arrangements. Creditors usually return the proposal letters
within 30 days, authorizing your new payment arrangements.
After the receipt of those proposals, it generally takes 1-3 months of
consistent creditor payments for delinquent accounts to be brought
current and, for you to see a reduction in interest rates and
late/over-the-limit fees.
Back to topic list
Question:
I have a Master Card or Visa (etc.) what type
of interest reduction can you offer me on that card…or do you stop the
interest?
Answer: It depends upon the
creditors you owe. Different creditors have different interest rate
reductions that we have been able to negotiate over the years we have
been in business. The interest reduction we are able to offer our
clients is based upon the agreements we have with each creditor. During
the consultation we will review what benefits each creditor will be
providing to you if you enroll in our service.
Back to topic list
Question:
How long will it take to repay my debt?
Answer: That will depend upon the
number of debts you have, the amount of each debt and the payment you
are able to make each month. During the consultation we will be able to
provide you with a tentative approximation of the amount of time it will
take through our service to repay your debts.
Back to topic list
Question:
How will this affect my credit rating?
Answer: That depends largely upon
your current situation and how your credit looks now. If you are
frequently late with your payments and have had difficulty paying your
debts on time, then using Community Credit Counseling Specialists’
service will actually help to improve your credit rating. Most potential
lenders require a minimum of two years of consecutive, on time payments,
in order to consider you a positive credit risk.
Making on-time payments, while paying off your debts, is the single most
important thing you can do to improve your credit rating. If you are
behind or late with your payments a credit counseling service can help
you do this.
Back to topic list
Question:
I believe I have errors, or incorrect
information on my credit report, can you help?
Answer: We may be able to assist.
One of our counselors can assist you in obtaining your credit reports
and then provide you with the steps needed to resolve inaccurate
information on your reports.
Back to topic list
Question:
I am interested in enrolling in your program,
but I am current and not behind on my debt payments. I do not want to
fall behind.
Answer: Then a Debt Management Plan
may not be for you and your counselor may recommend a different course
of action that will require less involvement and less risk to your good
credit standing. That’s why at Community Credit Counseling Specialists
we believe in a total budget review before making an evaluation on what
assistance is needed.
Back to topic list
Question:
Can you stop a garnishment?
Answer: It depends at which point in
the process the garnishment is. If you creditor is threatening a
garnishment, then the answer is yes we can stop it. If, however, a
garnishment is already being removed from your paycheck, then
unfortunately the answer is no. Once a garnishment begins it cannot be
stopped unless you pay the debt in full or offer the creditor more then
they are getting from the garnishment.
Back to topic list
© 2006, 2007, 2008 Community Credit Counseling
Specialists, Inc. All Rights Reserved.
Note: This Site
best viewed with video setting of 1024 X 768
