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Questions & Answers

1. Why should I choose Christian Credit Counseling Service over another agency?
2. How much will it cost me?
3. Will this program hurt my credit?
4. How soon can I start?
5. What is the difference between debt consolidation, debt settlement, and credit counseling?

1. Why should I choose Christian Credit Counseling Service over another agency?
We have a high rate of success because we tailor our budget and debt recovery programs to your needs. Through one-on-one budget and debt counseling, we give you the information, tools, and support to insure you can successfully manage your financial future.

2. How much will it cost me?
Our initial set-up fee is $125, and our monthly fee is $35. These fees cover the one-on-one attention that you receive from our staff.

Exception: We are dedicated to the well-being of our clients. If after reviewing your financial situation it is obvious you can not afford the fees, they will be waived.

3. Will this program hurt my credit?
If you consistently make your payments through us, you will have a good payment record when you finish. Also, the debt recovery program does not stay on your record once the debt is paid, unlike bankruptcy which can be on your record for ten years.

You will not be able to get additional credit while you are in the program because of your promise not to go into further debt. There will be many mortgage brokers and some car loan lenders who will not work with you while you are on the program, but there are also others who will.

4. How soon can I start?
As soon as you have a balanced budget. We do not hold back a monthly payment but pay out to your creditors as early and quickly as possible. The requirement is that you and we are convinced that you will continue to make on-time, regular payments into the future.

5. What is the difference between debt consolidation, debt settlement, and credit counseling?
Debt consolidation typically involves taking a secured loan to consolidate your current debt. While this can appear to reduce the amount you owe. The interest you pay on a long-term loan can add-up. Also, if you are unable to pay your loan, you risk losing what you used to secure your loan.

Debt settlement (also called Third Party Debt Negotiation) involves negotiating with your creditors to reduce the amount or the interest rate on the debt that you owe. It is best to work through a professional debt settlement agency.

Credit Counseling agencies restructure your debt by working with your creditors and assist you in balancing your budget. The debtor pays a fixed monthly payment to the agency each month, and the agency then disburses the payment to each of the creditors.

Do you have a question?

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1-800-342-7686

Christian Credit Counseling Service - A Division of CARES

Copyright 2003