FAQ

What happens during my FREE counseling session?

During the counseling session, we will review your income, help you establish a budget and review your debts. Based on your situation, we will recommend options to repay your debts. Options can include a plan for self-pay, consideration of debt refinancing, bankruptcy referral or our Debt Management Plan. The Debt Management Plan is appropriate when you won’t be able to pay down your unsecured debt in a reasonable timeframe without significant help from your creditors – such as payment/interest rate reductions and fee waivers. Most creditors will work directly with Consumer Credit as a means of resolving any outstanding balances. Typically, creditors will reduce payments, finance charges and eliminate fees for Consumer Credit clients.

Is there a minimum amount of debt I must have to work with you?

No. There is no minimum amount required. We are here to help if you feel you need budget and/or debt management assistance.

How does it work?

The plan helps you get lower payments and interest rates with many/most of your creditors. Sometimes finance charges are totally eliminated. Normally, within 3 payments, (or less) late and over the limit fees will be stopped. You will become debt free much quicker with reduced or stopped finance charges and fees eliminated. Remember, our counseling is free and without further obligation. Our service may not be available in all states.

What type of debts can you help me with?

We are able to help you take control of your unsecured debts which include credit cards, medical bills, signature loans, collection accounts, retail store and gas cards. Some payday lenders will work cooperatively with the DMP.

Are there any upfront fees?

No. Our counseling is free and without obligation or requirement to enter into a DMP.

Does Consumer Credit Nationwide loan money?

No. We do not loan money to clients. Using our DMP, we negotiate with creditors on your behalf to work out a new payment arrangement, possibly at a reduced interest rate, and disburse the payments for you to each creditor.

What fees are associated with a DMP?

There may be a monthly fee associated with a DMP. Our fees are variable, based on a number of factors, and range from $0 to $50 each month. We also ask for a one time deposit of $50 when you initially enter a DMP. You will generally find that, not only do the savings you experience cover our modest monthly fees, but you also have large cost savings, often thousands of dollars in a single year! Our counselors will estimate how much you would save by participating in a DMP for you. Beware of agencies that require you to make a full payment up front as a fee or that have gimmicky promises of rebates. Our fees and deposits may vary depending on the state where you live.

What makes you qualified to help me and how long have you been in business?

Since we opened our office in October 1993, we have helped thousands of people from all walks of life get their finances under control by setting up budgets and repayment plans. We are bonded and licensed (if required) by the various states we serve. We are members of the Better Business Bureau of Iowa and Illinois. Please see our Association’s page for all our professional memberships.

How do I know you are really paying my bills?

We send out monthly statements to our clients, so that they can see the amount sent to each creditor. Clients will also continue to receive statements directly from their creditors. The creditor statements should be reviewed to make sure that payments are properly credited and that concessions are granted.

How long will it take to pay off my debt?

Usually 3 to 5 years. However, depending on the concessions that your particular creditors offer, it could vary.

Do you have a question we did not answer? Feel free to send your question to us.