Bad Credit Agency

Should I use Consumer Credit Counseling Service for my debt??

I have about 3,000 in credit card debt from Citi and Discover. Both have been charged off so the damage is already done and I am 20 years old and I had to use this to pay for college and I wanted to try and make a small payment plan so I could defintley afford the payment but both collection agencies are asking for over 100 each month and I can't really afford that right now. I filled out this online application for Consumer Credit Counseling Service and they set up a plan where I pay 85 each month and out of that 15 goes to Consumer Credit Counseling Service and there also a fire deposit amount of 120$ which includes a file setup fee. Should I continue to do this or try and talk with the collection agencies about lowering the monthly payments or find another Service? I just want something that I can afford. Please help. Thank you

Public Comments

1. hello - sometimes the name Consumer Credit Counseling Service which is a non profit service can be confused with other debt payment services that are for profit - i suggest you go to www.nfcc.org/ National Foundation for Credit Counseling to see if the service that you are using is accredited. CCCS can not make a creditor do anything but they have positive relationships with many creditors that may benefit you - collection agencies are difficult to work with - it may be that the original creditor will take back the debt from the collection agency after some payments are made - maybe - maybe not - true CCCS will want you to do what is in your best interest - be sure that you are working with a true CCCS!
2. Negotiate with original creditors first. I utilized the services of a CCC service and my debts were still listed. Note that they do not negotiate to have the debts removed, only that the company will not sure you and will accept payments. I am still fighting to repair my credit on my own!