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I am new to this community and am having a financial crisis! I have an appointment with Consumer Credit Counseling Services on Wednesday and I need some advice. I have received mixed reviews on these types of services in that they reflect negatively on your credit report (I'm already getting negative reporting by having late payments). However, I read an article on MSN Money that says that credit reporting agencies actually look positively on these types of services because it shows that you are working to repay your debt instead of claiming bankruptcy. Has anyone used this service and can give me some advice?

The other issue is that I contacted a couple of my credit card companies to make my own arrangements (lower interest rates, no over limit fees, etc.) and since I'm not behind on any payments, they won't consider this. I even told them that I am considering bankruptcy and they didn't seem to care since my accounts aren't late. It seems crazy to me that they wouldn't work with me on a payment arrangement but would be o.k. with it if I claimed bankruptcy and they received nothing!

Thanks for any advice you can give!

You have several options available to you. CCCS programs are designed to help comsumers, but don't think that they aren't benefiting. CCCS programs do show as a thrid party mark on your credit, and in many instances are portrayed as a bankruptcy.

You may want to do some online searching and look into debt negotiators, consolidation loans, CCCS, and bankruptcy as a final option.