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riseabove · Joined: 09 Nov 2009 Posts: 277 11.01 Dollars($)

but a credit counseling agency will work with a client, educate the client, and with the power that they wield because they know what they're doing, negotiate with the creditor. they are not carrying out the wishes of the credit card company in the least.

yes, a borrower can work out his or her own issues - unfortunately, borrowers are famous for not doing so - particularly before it reaches a problem stage. debt management consultants are trained to work in this area, you and i are not.

sorry for the DP - not sure how i logged out!

gmakerley · Posted: Thu Nov 19, 2009 9:27 pm Post subject:

cccs is not owned by credit card companies - i didn't notice raymond making that comment, but if he did i am definitely in a disagreement about it.

as an independent concern, they are truly independent and extremely good at what they do.

maybe we have apples and oranges here and we haven't realized it yet...?

riseabove · Joined: 09 Nov 2009 Posts: 277 11.01 Dollars($)

Hey Gmak, yes it's the ownership thing that's tripping em up mentally as far as CCCS's are concerned. From Raymonds post:

"If they visit CCCS first, their program makes the most sense because they'll eliminate the interest and penalty fees on all the debtors credit cards, and their FICO scores won't be impacted as much as the other two solutions. I wonder if they tell the debtors they're a non-profit that's owned by the Credit Card companies, and the program takes the longest amount of time to complete."

As an independent negotiation/advocacy service I could certainly understand how they can be of benefit and everything makes a certain amount of sense - much like having a debt settlement negotiator working for you, but arranging installments rather than lump sum settlement, and only for fees and charges instead of principal debt - it's only when the people they are negotiate with are the same ones that own them that I think it gets wierd.

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