Consumer Credit Counseling Service Announces FREE Weekly Credit Reports: Encourages all to Check their Credit!

By -





The financial impact of the pandemic continues to cause suffering throughout the nation. This time there is a different reason.



Consumer Credit Counseling Service (CCCS) is now fearing people may suffer from impacts to credit scores due to credit reporting errors—through no fault of their own. At the beginning of the pandemic, lenders and credit reporting systems were inundated with requests for extensions, forbearances etc. The uniqueness of the situation along with its urgency, high emotions and lack of established guidelines may result in inaccuracies recorded on many credit reports.



The current situation is that thousands in our region may have substantial errors on their credit reports—and the onus is on consumers to make sure that their credit reports are accurate.  When credit reports show negative information, even if it is a mistake, the consequences can be very detrimental and long lasting. Having negative entries on your credit report can easily make your life miserable whether it is your fault of not.



At this time, CCCS strongly encourages all WNY residents to check their credit reports at AnnualCreditReport.com www.annualcreditreport.com, the only official website that allows free credit reports. Up until now, consumers could receive one free credit report per year. Now, free credit reports are available on a weekly basis until April 2021.



CCCS further encourages people to set up an appointment with us so we can help you go through your credit report. We can educate you on how to fix inaccuracies and address myriad issues: we can create budgets, tackle debt, work on restoring credit, set up payment plans and put people on the path to financial stability. We will also provide some much needed, ongoing encouragement.



CCCS is still offering free financial checkups—in person, by phone and through workshops. For those interested, call 712-2060 or visit www.consumercreditbuffalo.org. A Certified Financial Counselor will help address your financial concerns and can assist with credit report review or several other areas.  CCCS urges all consumers to take some positive action to quell anxiety and alleviate fears.

About CCCS

CCCS is a non-profit, full-service credit counseling agency, providing confidential financial guidance, financial education, counseling and credit repayment assistance to consumers since 1965.  CCCS of Buffalo helps consumers trim expenses, develop a spending plan and repay debts.  Counseling is available at our Main Office in West Seneca, in one of our Satellite Offices, by telephone and via Internet.  Visit www.consumercreditbuffalo.org for more information.

Comments

Post a Comment

Popular posts from this blog

Details of President Biden’s New Student Loan Forgiveness Program; Announces Final Extension to Student Loan Repayment Program

By -
  Millions of Americans have waited eagerly over these past two and a half years for student loan forgiveness. This week, President Biden issued the first of his student loan forgiveness plans. For those earning less than $125,000 a year—or couples with incomes under $250,000--up to $10,000 in federal student loan debt will be forgiven . If individuals used Pell grants to attend college (which are reserved for students with greatest financial need), up to $20,000 in federal student loan debt will be forgiven.   President Biden also this week officially extended the “ student loan payment pause” until December 31 st , 2022. Interest rates will remain at 0% until repayments start in January 2023. Biden states that this will be the last extension for student loan payments.   Mandatory student loan payments as well as interest accrual have been “on pause” since March 13, 2020, the beginning of the pandemic. 98.8% of borrowers did not make payments during this time perio...
Read more

Debt Management FAQs - Part 2

By -
What types of debts can be included in a Debt Management Plan (DMP)? You would be able to include any credit cards, personal loans, medical bills, or collection accounts. What types of debts CANNOT be included in a DMP? You would not be able to include student loans, mortgage, auto loans, or personal loans that are secured by collateral. What are the costs associated with a DMP? There is a monthly service charge of $35* (included in your monthly payment to us), and a one time initial set-up fee of $55* (payable with your first month’s payment only).  Unlike a debt settlement or debt relief agency, we do not charge fees based on a percentage of your debt, and the fees are nominal to cover administrative costs only, as we are a non-profit.  There are no “hidden” fees.  The only other fee you would ever see from CCCS is if your payment was returned (bounced check or returned ACH), and the amount of that fee is $25. *The amount of the monthly service charge and set-up fee may...
Read more

Loan Cancellation for Student Loan Borrowers Who Attended Corinthian Colleges

By -
Today, the U.S. Department of Education announced the cancellation of $5.8 billion in federal student loans for 560,000 individuals who borrowed to attend schools owned by Corinthian Colleges, the for-profit college conglomerate that is now defunct. Corinthian was a notorious repeat offender that defrauded its students and the public over many years. This loan cancellation would not have been possible without the tenacity of so many individual student loan borrowers harmed by Corinthian’s tactics. Many of them came forward to law enforcement agencies and regulators to detail systemic abuses. Others even had the courage to make their stories public to urge government authorities to act, rather than sitting on the sidelines. Over the last decade, I had the opportunity to speak with many of them to learn about Corinthian’s conduct. The Consumer Financial Protection Bureau and state attorney general actively pursued Corinthian for its misconduct. The CFPB filed a lawsuit in 2014, obt...
Read more