I am making my payments okay, but would like the interest rates reduced so I can get the cards paid off sooner. Is the Debt Management Program the answer for me?
If you are meeting your household financial obligations without falling behind and making your credit payments in full and on time, the Debt Management Program is probably not for you. However, a counselor may be able to work with you to develop a spending plan so that you can pay more to your creditors each month therefore reducing the amount of interest you will pay in the long run.

What is a Debt Management Program?
A Debt Management Program (DMP) is a formal agreement between you and CCCS that we will serve as an intermediary between you and your creditors. You would agree to make a monthly payment to CCCS that would then be disbursed to your creditors. The DMP is established for a period no longer than 5 years and is based upon affordability and creditors’ requirements.

How can a DMP help me?
The DMP may help if you have fallen behind in payments, or just can’t seem to make the minimum required. Many of your creditors will agree to certain concessions, such as reducing interest and stopping late and/or over-limit fees. Some will also bring your account current during the first few months of the DMP. The reduction in interest and fees means that you can get out of debt in five years or less. When an account is brought current (re-aged), it begins to contribute positive information on your credit history.

Why do creditors participate in the DMP?
Creditors participate voluntarily because of our credentials. We are non-profit, licensed and accredited, and have long-standing relationships with creditors. Because of this, creditors know that you worked with a certified, professional counselor to develop your DMP and that you have committed to repaying your debts. They have confidence that you want to avoid bankruptcy and pay your accounts in full.

What will this do to my credit report?
First of all, CCCS does not report your participation in a DMP to any credit reporting agency. Some, but not the majority of creditors will note your account history that you are with a credit counseling program, or similar notation. This notation does not affect your credit score, but will alert potential lenders that you are managing your debts through a DMP. If you were past due on your accounts when you came to CCCS and your creditors have a re-aging policy (where they will bring your account current within the first few months of the DMP), your credit should improve over the term of the DMP so long as you make your DMP deposits in full and on time. If you have concerns about this, be sure to mention it to your counselor.

When is my CCCS payment due?
Your payment is due on a date that was established by you and your counselor. Whatever that date is, you must be sure to make your payment on the same day each month—not early or late. Creditors require a payment every 30 days.

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When are my creditors notified of my DMP?
Your creditors will be notified as soon as possible, but no more than a month before they will receive your first payment through the DMP.

One of my creditors said they don’t work with CCCS.
It is not unusual for the person calling you to be unaware of his or her company’s policy of cooperation with CCCS. The written proposals we send to your creditors are sent in accordance with the creditors’ instructions. In the unlikely event that a proposal is rejected, we will notify you directly. If a creditor notifies you IN WRITING that they will not accept payments through CCCS, call our Customer Support department as soon as you receive the notice, and we will explain what needs to be done.

Will my creditors stop interest and fees now that I am on the DMP?
Most creditors will either reduce or stop interest. Many also bring your account current and stop late and over-limit fees after they receive three or four payments through CCCS. It is important that you review your creditor billing statements each month and report any concerns you have to our Customer Service department. Also, be sure to send in the most recent statements in the 4th month of your DMP and then every 6 months thereafter.

Can I pay by check, or make an electronic deposit?
Although we do not accept personal checks, you may make an electronic payment from your checking or savings account.

When will the phone calls stop?!
Many of your creditors will stop calling you as soon as they receive the written notification from us that you are participating in a DMP. Others will stop calling after they have received the first few payments through CCCS. Be sure to refer any creditors to us, where they can get the answers to their questions. Ask them to call (315) 474-6026.

Help! I need to stop the AutoPay withdrawal for this month!
We need two full business days prior to 2pm to be able to stop the withdrawal. So call us RIGHT NOW at 800-479-6026 to speak directly to a representative. Do not leave a message to stop the withdrawal as the message may not be received in time.