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Credit Counseling - Questions & Answers
How does a CCCS workout
program operate?
CCCS will ask you for information
on all the unsecured debt you owe, including credit
cards, loans, and medical bills. They will contact
your creditors and attempt to workout a repayment
schedule for those debts. The workout may include
reducing or eliminating interest and penalties,
extending and/or lowering payments. You make a
monthly payment to CCCS (which will include a
fee of about $24 for the service), and CCCS distributes
your payment to your creditors. The workout plan
will often require you to make payments for 4
to 5 years. In any event, the program requires
sacrifice and discipline.
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