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Credit Counseling

Consumer Credit Counseling Services (CCCS)

Consumer Credit Counseling Services, referred to as CCCS companies, are most commonly known for making, or attempting to make, monthly payments to your creditors. CCCS companies can both be non-profit and for profit.

Consumer credit counseling services can also be backed or funded by credit card companies. The basic concept of these companies is to mail proposals to your creditors, asking the creditors to lower your interest rate for a number of months, in turn lowering the monthly minimum payment to the creditors.  What most consumers don't realize, and what most agencies won't disclose, is that this type of program should only be used by consumers who are seeking short term relief. 

When you sit down and do the math, if you lower your monthly minimums, and make no larger payment than the minimums, you are effectively extending the life of your outstanding debt.  So instead of eliminating your debt in 4, 5 or 6 years as these companies promise, you are looking at 7 - 10 years before being debt free.  That estimate is based on many variables, the most important being whether or not a creditor will accept the payment plan at the reduced amount and reduced interest rate.  If the creditor rejects the proposal, you are right back where you started.

Another problem with Consumer Credit Counseling Services is that they report to the credit bureaus as third party assistance. This is highly detrimental to your credit for years to come and any future lender may consider you a credit risk because of it.

Consumer Credit Counseling Programs vs. Debt Settlement

•    Debt settlement reduces the amount you owe by 50% or more. Consumer Credit Counseling Services simply lower your minimum monthly payment and waive late fees.

•    With debt settlement you can be debt free within 60 months, usually much faster. Consumer Credit Counseling Services may create a payment plan that will take as long as 10 years to pay off.

•    Consumer credit counseling programs are sometimes backed by credit card companies. Premier Debt Solvers is a debt settlement company and we work with the creditors, not for them.

Debt Settlement is the Alternative to Credit Counseling Services

Learn more about our debt settlement services. Request your FREE consultation by filling out our form or call 1 (888) DEBT – 530 (332-8530).  Don't wait.  Contact us now to find out how our consumer debt relief programs can help you regain control of your financial future.


Debts We Can Settle
  • Credit cards
  • Unsecured loans, personal loans, or lines of credit
  • Medical bills
  • Collections or repossessions
  • Business Debts

Debts We Can't Settle
  • Lawsuits
  • IRS debt or back taxes
  • Utility bills
  • Auto loans, government loans, or student loans
  • Mortgages or home loans
  • Other secured debts