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What is the cost of a financial assessment?
Do you loan money?
What is the cost of the Debt Management Program?
What kinds of debt can be put in a Debt Management Program?
What are the benefits of a Debt Management Program?
What will my new interest rates be?
What does reaging an account mean?
How do I get started with your program?
How long will it take to complete DMP the program?
What happens to my total monthly payment when one of my accounts is paid off?
Can I still use my credit cards once I'm enrolled in the program?
Do I need to cancel credit card insurance?
Will my creditors still send me statements?
Can I make payments on my own, once I join the program?
How will your program affect my credit or credit score?
Is my information kept confidential?
How is FSA/CCCS funded?
How do I add an account to the program?
What happens if one of my credit cards is sold or transferred to another credit card company?
What if a creditor doesn't agree to participate?
What is my username and password to access my account online?
Why am I being charged late fees and/or over limit fees?
What if I want to add or remove a creditor from the Debt Management Program?
What is the cost of a financial assessment?
Our counseling session and financial assessment is free. Our counselors will provide you with a free assessment of your financial situation and help you determine your best options.
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Do you loan money?
No. We may work with your creditors and lenders to establish an affordable payment arrangement and try to help with your cash flow.
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What is the cost of the Debt Management Program?
There is a one-time fee of enrollment ($25 for Wisconsin Residents and $35 or Minnesota residents) and a monthly maintenance fee depending on the number of creditors and funds disbursed with maximum of $50.
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What kinds of debt can be put in a Debt Management Program?
Our Debt Management Program can help you with both unsecured debts (such as credit cards, department store cards, medical bills, signature loans, and many collection accounts) and payments on secured loans if it is in your best interest.
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What are the benefits of a Debt Management Program?
A Debt Management Program can assist you in gaining control of your finances by developing a personal budget and help in improving cash flow. Creditors may provide benefits such as lower interest rates, stopping late and over limit fees, and reaging delinquent accounts to reflect a current status.
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What will my new interest rates be?
Program interest rates are pre-determined by the individual creditors that you have.
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What does reaging an account mean?
Once your debt management proposal is accepted by the creditor, and generally after making three consecutive payments, many creditors will reage a delinquent account to show as current on your credit report. Federal law prohibits creditors from reaging an account more than once in a five-year period.
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How do I get started with your program?
The fastest way to get started is to call us at 1-800-350-2227 or complete the on-line counseling application form and submit it to us.
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How long will it take to complete DMP the program?
A Debt Management Program is designed to complete in approximately 4-5 years based on the minimum required program payments. However the length of the program will be determined by the total amount of your debt, your specific creditors, and whether you can send extra funds as you become more financially stable.
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What happens to my total monthly payment when one of my accounts is paid off?
Your total monthly payment will remain the same throughout the life of the program. As one account is paid off, the funds for that creditor plus the maintenance fee will automatically be reallocated in a way that is most beneficial to you, which is generally the account with the highest interest rate.
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Can I still use my credit cards once I'm enrolled in the program?
No. All accounts entered in the Debt Management Program will be closed. In order to get out of debt and regain financial stability, you must stop incurring new debt.
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Do I need to cancel credit card insurance?
Yes. Most creditors will not accept a Debt Management Proposal without first having the client cancel credit card insurance.
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Will my creditors still send me statements?
Yes, you will continue to receive monthly statements from your creditors. You should check your statements to make sure they reflect payments made through the Debt Management Program and that there are no late fees or overlimit fees being charge if the creditor had agreed to those terms. If you notice a problem, notify FSA/CCCS immediately. FSA/CCCS is not responsible for issues or errors that are not reported in a timely manner. If you are not receiving statements or your creditor refuses to send them, it is your responsibility to contact your creditor to check the status of your account.
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Can I make payments on my own, once I join the program?
No. It is recommended that once the program begins that all payments be made through the Debt Management Program. Payments made directly to the creditors could be viewed as not complying with the DMP agreement and may be terminated, resulting in an increase in the interest rates. If you want to send additional funds, please contact us at (800) 350-2227. We will be happy to assist you with this as part of our service to you.
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How will your program affect my credit or credit score?
Some creditors may contact the credit bureaus and put a notation on your report indicating that you're going through credit counseling. This is a neutral notation that does not affect your credit score. However, individual creditors view this notation differently and it may affect your access to additional credit, so taking part in a DMP may have a negative impact on your credit.
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Is my information kept confidential?
Yes. FSA/CCCS's privacy policy pledges that your information will be and will not disclose information to anyone except those persons authorized by you.
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How is FSA/CCCS funded?
FSA/CCCS receives financial support through voluntary Fair Share and Grant contributions from creditors who participate in our Debt Management Program. However, we work with all creditors who are willing to accept our payments and offer benefits to our clients, regardless of whether or not the creditor provides financial support to FSA/CCCS.
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How do I add an account to the program?
All unsecured accounts should be included in the program in order for you to receive the full benefits of the program. You can add an account by sending a copy of your most recent creditor statement by call our office at 800-350-2227
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What happens if one of my credit cards is sold or transferred to another
credit card company?
Notify our office immediately. We will then make the necessary changes to ensure the new creditor is informed of your participation in our Debt Management Program and that your payment is being sent to the correct address.
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What if a creditor doesn't agree to participate?
Each creditor can either accept or reject a debt management proposal. If the creditor does not accept a proposal, they may accept the full standard monthly payment through our program. If a creditor refuses to accept your payments through a debt management company, account will be removed and you will need to send your regular monthly payments directly to the creditor.
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What is my username and password to access my account online?
For first time users, the username is the six digit birthday (mmddyy) of the primary client. The password is the last four digits of the primary client's social security number.
Please visit us at: MyCCCSAccount.com . Then you will be prompted to create a new username and password.
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Why am I being charged late fees and/or over limit fees?
There could be several reasons why a creditor is still charging fees. If you see a fee on your current credit card statement, please contact our Client Services Department at (800) 350-2227, immediately so that the issue can be addressed with your creditor.
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What if I want to add or remove a creditor from the Debt Management Program?
Adding or removing a creditor from an account is a simple process. Please contact the Client Services Department to review the necessary steps, at (800) 350-2227
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