Credit card company subsidies AND the consumer may be presented with a bill for CCC services as well.

The consumer take a HUGE leap of faith in using CCC's and here's why. Remember, these are someone's "business". Businesses go "out of business" all the time. CCC's exist to structure a repayment plan between the consumer and the creditor.

The "plan" is this. Negotiated, reduced monthly payments to your creditors.You send in adequate funds each month to CCC to cover the new monthly total.CCC then forwards the designated payment to the creditor. HERE'S the danger:

What if CCC fails to forward the payment? On time? Or in full? Any glitch between CCC and the creditor and YOU get the harassing phone calls! Not CCC!

Some abuses have been so rampant, congress has even stepped in. Read about those here:

http://www.cccsnct.org/index2.php?option=com_content&do_pdf=1&id=53"

http://www.ftc.gov/os/2003/11/031120testimony.shtm

If you do decide to use a CCCS, investigate them. Ask for references.Ask if they supply you with monthly statements you can compare to your credit card and other debt statements. You need to account for every penny you send them and you need to be aware if those pennies are being received as scheduled.

Once you have accurate information, only then can you make an informed decision.

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