Will this damage my credit rating?

This question is most asked by our clients.  Typically creditors will show your accounts as being paid up to date with a credit rating of R1 or I1 depending on the type of account. That's great for people who are already behind.  However, not every creditor offers a re-age.   Fortunately, there are very few creditors who don't.  Creditors may also add a note on your credit file which may state "Account Payments Being Managed by Credit Counseling Service".  As a whole, credit counseling is looked upon as a positive step towards regaining financial stability.

Is this like Bankruptcy?

Absolutely not!  This is an alternative to bankruptcy.  Creditors will typically work with a client on credit counseling to avoid bankruptcy.

Is this a loan?

Not at all.  What's nice about this program is that consumers can get help without getting further in debt.   Clients will make one payment to us each month on a date they choose for themselves.  Payments are then disbursed monthly until the debts are paid in full.

If you are a non-profit organization, How do you make money?

This is also a very popular question.  As a non-profit, we rely mainly on voluntary contributions from banks, credit unions, finance companies and other organizations.