Of the very many companies offering credit counseling service is the Consumer Credit Counseling Service (CCS), which has become a bye word in the credit counseling industry. And Its record has built up over decades for successfully helping restructure bad credits and setting the people on the right track to overcome their problems.
One of the main features of this company is that it is community based, a not solely profit based organization, and has nation wide chapters. It draws people with problems, and also those without problem. They come to listen, and learn how to manage finances during periods of prosperity, illness, unforeseen circumstances, etc. And primarily how to stay out of bad credit.
What then makes this company stand out in the market, as a leader ? A leader has two attributes: innovation, a clear insight, constant learning, and communication with passion and vision. CCCS, as it is known, seems to have all these in abundance.
It holds regular educational workshops, partners’ communities, and gives incentives that advocate the right way to utilize credit, and also how the messes made can be cleared when it happens.
It works in three-four ways: meet a counselor independently, discuss problems on line, and you can opt for their electronic help-desk. They are staffed by individuals with hands on experience in debt management, and keep abreast of the financial community, with an eye on what new instrument or method can help the people trying to repair their debt.
The analysis that CCCS carries out is much the same as in the rest of the financial world of debt management. An analysis of your present financials, that is income and debt, a more detailed look at your finances which includes incomes, expenses, assets and liabilities, in short a balance sheet and an Income and Expenditure statement. Most often they would ask for details for one or two preceding years in order to check whether there is a pattern which developed, or was it a one time cause that was not properly handled. Advice is then given on how best to repair your debt and make a financial recovery, over a period of time.
Certainly, on its website, it also offers considerable wealth of information, advice, useful tips, and financial news that can help the defaulter help themselves. There are tools that are of simple design, easy to understand and easy to use. The website is a pool of data collected over the years, and as it gains experience in newer forms of management of bad credit or debt, it is continuously updated.
The site also provide you with worksheets into which you enter your details of finance, and credit, and the other information sought for, and its software would show you whether you are or are not eligible for any loan or line of credit. That is to say, the key ratios that banks and financial institutions use to determine your solvency, its limits and its stretch limits are instantly in front of you. If you were to play around with it on a "for instance" case basis, it would throw up the data that could help determine in what area you could possibly curtail expenditure or allocate more income to that activity. Playing with this permutation and combination, you could come up with a plan that would be possibly appeal to a banker. And certainly if you were to take all your "what if scenarios" the banker is certainly going to be impressed, because you have done their home work for them.
Take a look at www.cccsintl.org. It's MORE THAN worth it.
