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Here are some dark secrets CCC services do not like to
discuss:
 | Consumer Credit Counseling services were actually founded
by Banks and Credit Card companies, for the purpose of preventing their
customers from defaulting on their notes. |
| They were set up as "not for profit
corporations", which is merely a tax designation meaning they do not
pay dividends to stock-holders. They use this tax status in their marketing literature
for giving the appearance that they are true consumer advocates. In
actuality, however, CCC services make a considerable amount of money,
through getting paid by both the consumer who hires them and the creditors
with whom they were hire to negotiate on behalf of the consumer. |
| CCC services receive a significant portion of their income
from creditors. These creditors have established certain
"pre-negotiation limits" they will not go below. This means that
they cannot do anything for thousands of consumers who are unable to make
the minimum payments prescribed by creditors. Many consumers in our program
were actually encouraged by CCC to commit financial suicide and file
bankruptcy.
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