American Consumer Credit Counseling

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I got the name of the company from a financial advisor, but I'm very weary about using a debt consolidating company since I always here such horrible stories. I checked over their website and spoke with someone from the company on the phone. They say they are nonprofit and gave me an estimate for pay off that sounded great, but I'm still nervous. I just wanted to get opinions from others who may have tried it or have known people who tried it before I go any further.

Best Answer

American Consumer Credit Counseling is a non-profit organization. As such, their IRS Form 990 annual informational returns are viewable at http://www.guidestar.org. Looks like they had a surplus of $843,000 in 2005, and that they pay their CEO/Treasurer, Stephen Trumble, over $323,000.

Do they really help you....I am about to join this lawfirm under credit counseling of america to help with my debts. I am a little skeptical because they say they will work my creditors, collect monthly payments and deposit into a trusted account, and in two years then pay the creditors off... Does Consumer Credit Counseling of American for reals???

Best Answer

I suggest you contact your creditors and see what they can do for you. If it's a few dollars off, I suggest you do it yourself. If the counseling company can save you more money, then I would go with them. I went with a consolidation company, with my situation, it took me longer, but saved me more per paycheck....