Best Answer: Consolidated Credit Counseling Services is a legitimate business. It's a ISO 9001:2000 Registered Organization and has an A+ rating with the Better Business Bureau. According to their website, they interview you about your financial situation, do a budget analysis and then make recommendations.
There really isn't a "one-size" fits all when it comes to solving debt issues. Debt management program might fit if you have high interest rates and are struggling with minimum payments and you haven't gotten too far behind on your bills. Debt settlement might be an option if you're more than 9 months behind in your bills, your creditors have charged off the accounts and debt collectors are knocking at your door. Bankruptcy might be an option if you're so far in the hole that you can't get out; however, do keep in mind that you'll probably need a lawyer because
it's a complicated process.
Do you mean CCCS? Consumer Credit Counseling Services (CCCS) can negotiate reduced interest and payments. They will require you to stop using all credit and to cut up your cards. Your credit report will be updated to "enrolled in debt management." This does not damage your credit, but it may make it difficult to obtain new credit while you are enrolled in their program. so don't use this service if you anticipate applying for a new apartment, car loan or mortgage anytime soon, as you would might be denied while you're enrolled in the CCCS debt management program.
CCCS counselors will often tell people to not file for bankruptcy when they really should. If your debt is overwhelming relative to your income/assets and the reduced payments negotiated by CCCS simply will not work, then you should think about filing for Chapter 7 bankruptcy.