CCC Debt Management

CCC Debt Management or consumer credit counseling debt management is an NFCC approved system to manage and get rid of impending debts.

NFCC or National Foundation for Credit Counseling licenses agencies or companies across the country to offer CCCS or consumer credit counseling services. Any agency accredited by the NFCC would offer standard approaches to debt management.

Anyone who has more than one debt and is finding it increasingly difficult to pay off or to keep paying the debts should take advantage of CCC debt management.

Advantages of CCC Debt Management

The first major advantage of CCC debt management is the aversion of any practice that would be questionable or unwise. There are many debt management companies that don’t work in the best interest of the debtor or indebted.

They tend to focus their interests on making money, thereby not offering the best possible deal to the consumers, which they naturally deserve having already struggled with the debts. NFCC accredited CCC debt management services will have absolute focus on the consumer interest at all times.

CCC debt management is not just about assimilating the debts and getting a better deal to pay them off. It also involved education, financial planning, budgeting and all kinds of associated resources to help a consumer get over the debts as soon as possible.

Financial planning including budgeting assistance can change the immediate lifestyle and savings of a consumer. Financial education can make a consumer a better investor. Additional resources can help one to manage their existing income, savings and debts much more conveniently.

There are certain obvious advantages of CCC debt management. All existing debts are piled onto as one debt. The creditors are paid off and there is only one creditor to pay back.

There is one loan with possibly a much lower rate of interest and thus a reduced accumulated installment to pay every month. The whole program is designed to make all debts get settled in a span of three to five years.

In worse circumstances, this period could stretch up to ten years, especially if the loan amounts are massive. The monthly savings by the virtue of the reduction in rate of interest through CCC debt management, having only one rate of interest for all debts and easy coordination with a single point of contact who would be more helpful than collection agents of creditors can make a world of difference for the consumers.

See also CCC Debt ConsolidationCredit Cards and Payday Loans.