CCCS is verrry tricky!!! Nationwide Ohio

I want to keep this short and sweet. I enrolled in the CCCS (Consumer Credit Counseling) debt management program in the fall of 2003. At that time I owed just over $25,000 to 3 creditors. I went through hoops to be accepted into the program and after about 2 months of an application process I was on my way to debt freedom. Or was I?

I was told I was to pay $525 that would be deducted from my checking account monthly. I was told the program would last 48 months. I have been so excited knowing that I am only a few months away from my goal of debt freedom. But then a few months ago I recieved a letter from CCCS stating my current balances. According to the balances I have an additional 15 months of payments beyond my projected completion date!!! What???

I called my counselor immediately and told her of the mistake they must have made. She said that the additional interest that accrues in that 48 month period is added at the end! I am furious! I realize I am responsible for my debt and the interest but CCCS went to bat for me with my creditors to help with a reduction of those rates.

Again, I must state that I know I need to pay the amount I owe but how could CCCS misrepresent their program? Could they not have projected the interest rate addition and tell me up front that the program would be 63 months instead of 48? Just be HONEST! I would much rather have been told it would take longer (if they had figured in the interest) and be pleasantly surprised when I finish earlier than projected. Instead I am CRUSHED!

My counselor said I could pay extra each month if I still want to finish by my original pay-off date of September this year. If I want to do that I'll have to pay $1,891 each month instead of the $525 I agreed to pay in the first place. That's $1366 MORE!!!

What disgusts me is how they could so blatantly misrepresent the program. I was never informed that the balance owed of $25,000 divided by $525 a month was just the tip of the iceberg. I understand the process now and maybe I was nieve to think that I would finish in 48 months. But shame on them to not explain what I was really going to pay.

This company is a rip-off if you ask me. I wish I had read Dave Ramsey's book before I got mixed up with CCCS. Dave says that having CCCS on your credit report is as bad as a bankrupcy. I will continue the program (I have no choice)but I will discourage anyone I know from using this service. I already discourage the use of credit anyway. I've learned my lesson. The VERY, VERY hard way.

Lyn
anytown, Alabama
U.S.A.