Your Educational Source Consumer Credit and Budget Counseling, Inc

 
CC&BC is your home for Credit Counseling and Education
Free debt and budget analysis
Frequently Asked Questions
Your source for finanacial literacy education
Client access to tools to manage your account
Contact us for your financial counseling and educational needs

Learn how to better manage your finances Experienced and Certified Counselors to answer your questions Is your budget is balance or are you struggleing every month? Get your budget analyzed by a Certified Counselor who will compre it to others in similar situations No Cost / No Obligation / Completeley Confidential Analysis of your Debt Situation
Learn the basics about how to buy a homeLearn how to reduce your payments and lower your interest ratesLearn how to budget and manage your financesRequired credit counseling and debtor education for bankruptcy

Credit and Budget Counseling

Credit Counseling is financial education, budgeting assistance and debt counseling.  Consumer Credit and Budget Counseling will review your whole financial situation including both your budget and your debt and will educate you on the merits of the options available to you.  One of those "options" may be a Debt Management Program.

Consumer Credit and Budget Counseling offers a Debt Management Program as part of our educational and financial assistance programs.  In a Debt Management Program CC&CB will arrange for your creditors to accept lower payment and reduce your interest rates.  Many creditors will also “re-age” (bring current) your account and report it to the credit reporting agencies as current.

A Debt Management Program is not for everyone.  It is a HARDSHIP program and may negatively affect your credit report.  Creditors may report that an account is in financial counseling.  While this reporting does not affect on your credit score, it will limit your ability to obtain additional credit while in a program.  Also, the program does NOT erase reported history on your credit report if it is correct and most creditors will close your account upon acceptance on their program.

Every Debt Management Program is different because no two borrowers are the same, nor their debts. However, the process and what each client should expect is similar. The process is outlined below and the What you can expect if you decide to enroll in a Debt Management Program.

The Process

All that you need to do is:

  1. Complete the SECURE Budget Analysis Form as completely as possible and submit it to us.
  2. Complete the SECURE Debt Analysis Form as completely as possible and submit it to us.
  3. Wait 2-3 business days or less for a No Obligation, No Cost and Confidential Budget and Debt Management Plan.

We Will:

  1. Analyze your debts and develop a Debt Management Program that will show estimated interest rate reductions, monthly payment savings, the estimated time to pay off your debts, and the estimated total program savings.
  2. Analyze your budget and provide you with money saving tips and comments by a qualified budget counselor.
  3. Return your personalized Debt Management Program along with the necessary documents for you to join the program.
  4. You should expect the information in about 2-3 business days. We will send the analysis to you in an Adobe file attachment, or by fax or mail if you would prefer.

If you should decide not to join the program, contact us and we will close your file.

  1. If you decide to join the program return the signed Authorization and Agreement and your most current bills, and indicate the date you would like to begin your payments.
  2. We will then contact all your creditors and begin negotiations up to 30 days in advance of the first disbursement to your creditors. Creditors will begin to lower your rates with your first to third payments.
  3. We will send you a recap of the program for your review, with a payment envelope and additional information on what to expect in the first several months in the program.
  4. Once you have joined the program, send in your payments on time each month to receive the full benefits of your program In approximately three to five years you will be debt free!

Debt Management Program Needs Based Fee Schedule
Fees are Waived or Reduced Based on Hardship or Ability to Pay:
NO Upfront Fees !
At or Below Poverty Level: No Fees Charged
Low Income: $ 3.00 Per Credit Card
$ 6.00 Per Collection Item*
$ 20.00 Maximum Monthly Fee**
Persons with Disabilities,
Retired and relying on Social Security 		$ 3.00 Per Credit Card
$ 6.00 Per Collection Item*
$ 20.00 Maximum Monthly Fee**
All Others $ 5.00 Per Credit Card
$ 10.00 Per Collection Item*
$ 39.00 Maximum Monthly Fee**
Poverty and Low Income Levels
Size of Family
2007 Poverty Level ***
Low Income Level (185%)
1
$ 10,210
$ 19,074
2
$ 13,690
$ 25,327
3
$ 17,170
$ 31,765
4
$ 20,650
$ 38,203
5
$ 24,130
$ 44,641
6
$ 27,610
$ 51,079
7
$ 31,090
$ 57,517
8
$ 34,570
$ 63,955
Each addnl
$ 3,480
$ 6,438

* A Collection Item is defined as any debt that is being handled by a collection agency, charged off or in judgment status.

** Maximum Monthly Fee will be the lower of $39.00 or the State maximum.

*** The income levels were developed using the poverty guidelines published by the Department of Health and Human Services.

Revised 7/20/07 © Consumer Credit and Budget Counseling

 

 
 

Customer Service: support@cc-bc.com 888-738-8233 x-204
Se Habla Espanol: 1-888-5DEUDAS
 
 
Licensed: New York State Department of Banking, Maine, New Jersey, Virginia, Vermont, Connecticut.
Registered: Massachusetts, Georgia, California
 
 

Affiliations and Memberships:

Consumer Credit and Budget Counseling
299 South Shore Rd
Marmora, NJ 08223
AADMOBBB Member in good standingCOA AccreditatedHUD Approved Agency

(c) 2007

Consumer Credit and
Budget Counseling
ph: 888-738-8233
fx: 888-738-8234