CCCS of Buffalo - Dare to be Debt Free

  CCCS Announces that Most Medical Debt to Be Removed from Credit Reports;  Student Loan Repayments Extended Until August 31 st   In a recent and welcomed policy shift, Equifax, Experian, and TransUnion announced that nearly 70% of current medical debt will be removed from credit reports, beginning this summer. Millions of Americans are saddled with medical debt and the problem continues to grow. Studies from 2021 found that 37% of Americans had medical debt, while 23% did not currently have medical debt but had it in the past. The Consumer Financial Protection Bureau (CFPB) estimates that at this moment, some $88 billion in medical bills sits on 43 million credit reports. Equifax, Experian, and TransUnion Medical maintain reports on more than 200 million people in the U.S. Often, medical bills can be exorbitant and end up on credit reports, ruining credit scores and preventing people from accessing mortgages, car loans and even employment. Many of these people ha...

On April 6, 2022, the U.S. Department of Education (ED) extended the student loan payment pause through Aug. 31, 2022. The pause includes the following relief measures for eligible federal loans: ·          a suspension of loan payments ·          a 0% interest rate ·          stopped collections on defaulted loans Here are four steps to make sure you’re prepared for student loan payments to resume: ·          Update your contact information in your profile on your  loan servicer ’s website and in your  StudentAid.gov profile . ·          Review your auto-debit enrollment or sign up for the first time. To do so, log in to your loan servicer’s website or contact your loan servicer directly. ·          Check out  Loan...

  Many individuals have varying financial goals, but often times an annual vacation or trip with family top the list of most.   Of course they don’t just happen with the snap of a finger. Vacations take financial planning, budgeting, savings, and research and creativity for finding affordable transportation, accommodations, and activities upon arrival. Vacations are well-deserved treats that are the result of hard work, and with the right preparation you should be able to enjoy it to the fullest without financial distress before, during, or after. First and foremost planning for a vacation should start with setting an overall budget for the trip. This will allow to you determine how much you need to start systematically saving, ideally for several months up to a year in advance of the trip depending on the anticipated cost. The total cost can be the most difficult task to accurately estimate as you have to account for all expenses during your vacation, including and not lim...

Have you received a call or letter demanding you pay an old debt that either you forgot about, paid off, or is simply not yours? AHH! You may be a victim of “zombie debt collection”. Zombie debts typically show up for various reasons: 1.        Sometimes they are debts that are either very old and/or no longer owed - past the statute of limitations (SOL) for legal action in your state, which is usually between three and six years.   2.       You may have forgotten about the debt or had previously settled on the debt with either the original creditor or another collection agency. 3.       The debt is a result of identity theft. 4.       You filed the debt with a bankruptcy filing and it was discharged. The biggest issue with these zombie debts is that individuals are pressured into paying the debt, which they may not even need to pay! The first step is not to acknowledge the d...

  Do you know anyone who is a cash worker or undocumented worker that lost income during the COVID-19 pandemic? The New York State Excluded Worker’s Fund helps these workers obtain the federal relief funds that they were left out of. Consumer Credit Counseling Service of Buffalo is one of only three Western New York organizations selected by New York State to help individuals access financial help through the all new Excluded Workers Fund — the first of its kind in the nation. The EWF officially began as of August 1 st  after its approval in the New York State budget this spring. It is a fund of approximately $2.1 billion and can provide benefits of as much as $15,600 per worker. Applications for the EWF are available in 13 different languages and applicants are strongly encouraged to apply online. Applications will not be accepted by mail.  CCCS encourages all those who believe they may be eligible to visit  https://dol.ny.gov/EWFApply  and to contact CCC...

  As the summer comes to yet another close, swiftly approaching is the holiday season. Have you started planning yet? Well… if not, you likely aren’t alone.   In less than 3 months a busy schedule lies ahead; Family gatherings and visiting relatives, attending parties and potlucks, entertaining the kids while they are eagerly home from school, and of course… shopping.   This should be the time of year to enjoy, and with the right planning, of both your time and your finances, you can have a great holiday season! Like most successful endeavors, this will start with a detailed plan. Ideally this should happen earlier in the year; whether you are putting money aside in a savings club, or purchasing gifts intermittently throughout the year.   Perhaps that wasn’t the case this year but don't worry! You can still have a great holiday season if you focus your attention on these 5 specific recommendations and tips to maximize your dollars: Make a list, and check it twic...

  Call 716-712-2060 or visit www.consumercreditbuffalo.org   Consumer Credit Counseling Service (CCCS) announced today that it is working to secure workers’ benefits for those who have been excluded from the federal stimulus efforts. CCCS is one of only three Western New York organizations selected by New York State to help individuals access financial help through the all new Excluded Workers Fund — the first of its kind in the nation. The Excluded Workers Fund (EWF) provides financial assistance to New Yorkers who lost income during the COVID-19 pandemic and were left out of various federal relief programs, including unemployment and pandemic benefits, according to the New York Department of Labor https://dol.ny.gov/EWF Those who were unable to access unemployment and/or any other pandemic benefits include undocumented adults and those with nontraditional jobs. The EWF officially began as of August 1 st after its approval in the New York State budget this spri...