Debt Management FAQ

Frequently Asked Questions

Q: How can CCFC of America assist me with my debt¹?

A: CCFC of America can provide you with free debt management counseling.

Q: What will a debt management program do to my credit?

A: Creditors view repayment of a debt as a positive step towards resolving your obligation. If your accounts are

currently late, delinquent or closed, maintaining a good repayment pattern should help to improve your credit.

Q: Do I need to be in a certain amount of debt before I can receive assistance?

A: No. Unlike most consumer credit counseling organizations, CCFC of America does not require you to have a

minimum amount of debt before we can assist you.

Q: If I am late with a bill payment to one of my creditors is that bad?

A: Once a bill payment is between 30-60 days late, it is normally reported by your creditors as delinquent to the

credit reporting bureaus. In terms of your credit, it can be considered bad.

Q: What type of bills can I include in my debt management program?

A: Click here for a list.

Q: I was told that after a certain period of time, my creditors could not bother me any more?

A: That is true under Statute of Limitations cases. In most states, the statutes of limitations law states that if a

creditor doesn't bring an action to collect their debt within six years of your last payment made, they may never

bring an action against the debtor in court. This doesn't mean that the debt is wiped off your credit report, it just

means that the creditor can never try and collect it from you.

Q: I don't have enough money to pay my bills at this time. What should I do?

A: Contact CCFC of America. The longer you wait, the worse your credit can become. The longer your creditors

wait, the worse the consequences can be to you. Your creditors can take your house, car, cash and if that

does not satisfy the debt, they can make you liable for the difference.

Q: I've heard that my credit report can be repaired. Is this true?

A: Yes and no. You can have creditor and credit bureau errors corrected and deleted from your credit report files.

But, accurate account information can not be removed, permanently deleted or altered without it reappearing

with possible legal consequences. This rule does not apply if your creditor agrees to the changes and/or if the

credit bureau(s) do not follow proper protocol. Click here for information on credit repair scams.

Q: How can I receive additional information regarding credit repair, debt, mortgages, loans, bankruptcy, etc.?

A: You can receive free publications from the United States Government and from CCFC of America. Click here

for details and for a list of available publications.

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