Credit Counseling Lies Exposed – The Shocking Whole Truth Credit Counselors Don’t Want You to Know

You’re acutely in debt, apprehensive which way to turn. You’re confused, worried, and so fatigued out you can’t anticipate straight. What do you do?

Many humans afield about-face to acclaim counselors. Generally humans disturbing with austere debt accomplish the alarming acceptance acclaim attorneys are “the acceptable guys” because they acquaint getting “not-for-profit”. Added times debtors absorbed by the debt administration companies accept a accepted “half-truth” (out-right lie) answer by the acclaim advertisement agencies and acclaim attorneys akin about how such debt alliance programs affect your credit. Do you apperceive how your acclaim may be affected?

Before we attending at the accuracy abaft these ambiguous claims, let’s bright up the analogue and annihilate any confusion.

You see, “Consumer Acclaim Counseling Services” goes by abounding names… but ALL of these altered names are absolutely the aforementioned thing. These abounding names cover acclaim counseling, CCCS, debt consolidation, debt alliance plan, debt alliance program, debt administration plan, DMP, debt administration program, and of advance the abominable “Non-Profit” Acclaim Counseling Program.

The Accuracy About How Acclaim Counseling Affects Your Credit

While acceptance in Consumer Acclaim Counseling Services no best affects your afterwards acclaim “score”*, getting enrolled in “CCCS” has a VERY DAMAGING appulse on your acclaim “worthiness.” Acclaim adeptness is your adeptness to get a loan.

(* This is bold that the acclaim counseling bureau in fact makes your payments on time – which is generally NOT the case, as many, abounding humans who accept afield enrolled in such debt administration affairs report.)

Why does acceptance accept such a damaging affect on your acclaim worthiness?

· Statistics appearance it’s a lot of acceptable that you will never complete your debt administration plan and will a lot of acceptable book defalcation instead.

· Some statistics address 7 out of 10 humans who accept into debt administration affairs abort to get out of debt.

Just ask ANY mortgage lender in the country…

When affairs your acclaim report, EVERY ACCOUNT included in your “debt administration plan” is listed just as a defalcation would be, with a apprehension beneath anniversary annual adage something agnate to:


This bureau big agitation for you. Lenders alarm this a “walking bankruptcy” because it’s a *major red flag* advertence you cannot administer your money and had to appoint a third affair to do it for you. Plus, you still owe the debt and are at a abundant greater accident of filing defalcation in the abreast future.

How will these abrogating acclaim entries affect you?

You will pay abundant added in fees and absorption rates, if you are able to access acclaim at all, during the 4-7 years you are enrolled in your debt administration program.

Who’s Hiding This Hurtful Half-Truth (Outright Lie) From You?

Credit counselors, your creditors & the acclaim advertisement agencies are all in amalgamation together. They all advance the half-truth that CCCS does not affect your acclaim score. The all-inclusive majority, including the acclaim advertisement bureau websites abort to acknowledgment the blow of the story.

While it is accurate that acclaim counseling has no affect on your acclaim score, that’s alone bisected of the truth.


Because acclaim counseling has a major abrogating appulse on your acclaim worthiness.

The Accuracy Regarding So-Called “Non-Profit” Acclaim Counselors

Don’t be bamboozled by the words “non-profit.” Claiming a debt administration plan is “not-for-profit” is ridiculous, but it’s bamboozled abounding humans into authoritative poor money choices.

· The IRS has revoked the non-profit cachet of over 50% of the acclaim counseling industry in the accomplished two years.

· The IRS is administering an analysis of the absolute industry!

Here’s the PROOF “they” don’t ambition you to see:

· Debt administration programs were created by the acclaim agenda industry aback in the 1950′s

· The acclaim industry lobbied assembly to accomplish their accustomed “non-profit” cachet for the debt administration programs.

· They are absolutely a accumulating arm for the acclaim agenda industry.

· Next to minimum payments on top absorption acclaim agenda debt, Acclaim Counseling is how creditors accomplish a lot of of their profit!

· Their CEO’s are paid VERY WELL from the bang backs they accept (called “fair share”, usually 15% of all payments accustomed by you) — from YOUR creditors!

· Plus, aren’t you paying a $35-85 account FEE?

How’s that a non-profit?

On top of these costs to you, abounding acclaim attorneys ask their customers, who appear to them acutely in debt, for a “donation” to their “non-profit” organization. Often, these agencies burden their barter into authoritative “regular donations.”

Is this acting in your best interest?

A Secret Acclaim Attorneys Were Able To Hide For A Long Time

The ambition of these programs is to:

· Fool consumers into paying aback 100% of their balances PLUS absorption when they’re in abysmal cyberbanking hardship, instead of filing defalcation or gluttonous debt adjustment if such options may be abundant added appropriate.

A lot of accumulation has been fabricated from these “non-profit” debt alliance programs over the years. The cyberbanking and acclaim institutions, acclaim advertisement agencies and those politically acute to these accumulated lobbying giants all advance such debt administration affairs because that’s how they break in business.

In 2004, PBS FRONTLINE and The New York Times produced “The Secret History of the Acclaim Card” and went on to win 2004-05 Grammy for Outstanding Investigative Journalism. (Google “The Secret History of the Acclaim Card” to watch this affairs for chargeless online – abundant advice you’ll ambition you had accepted eventually if you’re ambidextrous with acclaim agenda debt.)

Now the accuracy is out, but your creditors are still acquisitive you don’t acquisition out…

Is There A Bigger Alternative Than Acclaim Counseling?

Now don’t get me wrong, debt administration programs can be a abundant affair for assertive people. Could acclaim counseling be the best advantage for you?

Sometimes, if a being cannot authorize for a bigger affairs to annihilate debt faster, at a lower amount and a lower transaction with beneath acclaim damage, acclaim counseling may be best.

It may not be. I’ve helped abounding humans get out of debt through acclaim counseling over the years, but alone afterwards they were accomplished on the all of their options, and the accomplished accuracy about each. I alone accede it bent to advance a individual band-aid instead of searching at an individual’s specific affairs and bearings to ascertain the exact band-aid best for them.

Share these facts with the humans you apperceive afore anyone abroad becomes addition sad statistic!

Learn the aberration amid “credit rating” and “credit worthiness”, and apprentice how acclaim works so you can accept it plan for you.

Are you 100% assertive Consumer Acclaim Counseling Services is the best advantage for you to get out of debt? If you ambition to get out of debt ASAP, again you should apperceive added options are available.

Can Credit Cards Help you Establish Credit After Bankruptcy?

If you are aggravating to authorize acclaim afterwards defalcation aural two years a acclaim agenda can be a abundant way to begin. Before we allocution about specifics let’s activate with a accepted compassionate about your situation. You accept just afresh filed defalcation on a bulk of creditors, and in any new creditor’s eyes your represent a top acclaim risk. For this reason, it’s analytic to apprehend that you will accept to pay the accomplished absorption rates. So our ambition should be to re-build our acclaim with the atomic bulk of bulk out of our pocket.

There are apart acclaim cards accessible that will affair you acclaim about anon afterwards a bankruptcy. In my assessment these types of acclaim cards are a cheat and apparently a poor footfall to bigger acclaim afterwards bankruptcy. Most of these cards will abandoned alpha you off with a $300 acclaim absolute and allegation you $150 anniversary of fees on it with your aboriginal bill. You are able-bodied of 35% of your acclaim absolute on your aboriginal bill! You adeptness as able-bodied accept activated for a anchored acclaim agenda with a third of the fees.

In my opinion, a anchored acclaim agenda is the way to go. I apperceive you accept to forward in $300 bucks to get started but the allowances far out-weigh the apart cards. Anchored acclaim cards like the Coffer of America Anchored Visa® Platinum Agenda action low anniversary fees and abounding acclaim agenda allowances from day one. The abandoned downside is that you do accept to forward in your acclaim limit. Keep in mind, our ambition is to re-build our acclaim with the atomic bulk of money and this agenda is the answer.

One accepted delusion is that you accept to achieve accuse and on your new acclaim agenda and pay them off to body up your credit. This artlessly is not true. Acclaim bureaus in fact cheapen your acclaim anniversary already you beat 35% of your acclaim limit. When approaching creditors attending at your acclaim agency they will see how continued you accept had the card, your acclaim antithesis and if you accept been late. The acclaim agency does not advertence your accuse in the past, abandoned your accepted balance. For this acumen I advance that you accessible up the acclaim agenda afterwards defalcation and leave it alone.

Another advantage anchored acclaim cards afterwards defalcation is the adeptness to accession your absolute by authoritative added deposits. When creditors see a acclaim agenda antithesis of $300 bucks it’s appealing credible what affectionate of acclaim agenda it is. Other than that they accept no abstraction that it is a anchored acclaim card. So if you amusement your anchored acclaim agenda as a accumulation anniversary and forward funds in to accession your acclaim absolute you can achieve a bulk of goals.

First and foremost you can accession your acclaim antithesis of the agenda to add added authority to your bureau. You can aswell appearance “credit restraint” meaning, that you accept acclaim accessible and do not allegation to use it. Not to acknowledgment that you are extenuative money in a absolute coffer account. Keeping an anniversary of say, $1000 accessible with a $0 antithesis for two years will do wonders for your acclaim array and accord you some money in the bank.

In closing, the best anchored acclaim cards are the ones that are opened with able-bodied accepted banks so that the acclaim agenda does not arise to be secured. Attending for low anniversary fees and no clutter fees for aperture the account. Read the accomplished print; achieve abiding there aren’t any hidden fees for closing the anniversary already your acclaim heals and you can be accustomed for fair acclaim acclaim cards. Last but not least, add money to them on a approved base and don’t allegation on them. There is actually no acumen to achieve any charges, your acclaim will reflect a bigger anniversary with a $0 balance.