American Consumer Credit Counseling Inc, Review for 2023
The debt relief experts at NoMoreCreditCards.com conducted the following American Consumer Credit Counseling review. We analyzed the Internet’s most credible sources to retrieve the facts about this company and hear firsthand what its customers had to say, including sources such as the Better Business Bureau (BBB), the Department of Justice’s website, and other industry-specific regulatory websites.
Debt is a significant issue for many Americans. And as of 2023, the default rate on credit card debt is skyrocketing due to increased interest rates and monthly payments. Defaulting on a loan can negatively impact credit scores and future credit eligibility and may lead to the seizure of property.
American Consumer Credit Counseling Inc. (ACCC) can assist in managing this overwhelming issue. ACCC is a non-profit credit counseling agency founded in 1991, which offers services such as credit counseling, debt management, bankruptcy counseling, housing counseling, and financial education to consumers across the United States. This company is a leading consumer credit counseling agency with some of the best credentials in the industry. They do an outstanding job of assisting people in avoiding bankruptcy and finding solutions for most types of debt.
Overall, American Consumer Credit Counseling reviews online are mainly positive. For example, they have over 450 Better Business Bureau (BBB) reviews. ACCC’s average customer rating for those reviews is 4.9 out of the best possible rating of 5, which is almost as high as you can get for a debt relief company. That said, there are pros and cons that you need to consider about credit counseling agencies. Don’t let “non-profit” fool you because you can end up paying high fees with credit counseling services over five years. There are programs available that can help you save more money and get out of debt faster, but they also have pros and cons to consider.
Without further ado, let’s get going on the following review of American Consumer Credit Counseling. The Cost and complaints, positive and negative, will all be shared.
What is American Consumer Credit Counseling Inc?
American Consumer Credit Counseling Inc is a nonprofit organization empowering consumers with financial education to help them regain control of their finances and live a debt-free life. ACCC provides a range of services, including:
- General financial education
- Credit counseling services
- Debt management
- Debt consolidation
- Budget, bankruptcy, housing, and student loan counseling
How does American Consumer Credit Counseling Inc work?
ACCC works through a range of tailor-made programs, namely:
General budgeting and advice: American Consumer Credit Counseling offers free financial counseling sessions for eligible consumers struggling with unsecured debt. These sessions are conducted by trained and licensed counselors. During your session, the counselor reviews your income, expenses, assets, and liabilities and advice on the best possible option to manage your debts. They will also offer several valuable resources, including educational materials and social services programs to equip you with financial management skills. ACCC can also enroll a consumer in one of its debt management programs based on their financial standing.
Debt management services: Debt management programs help you consolidate your consumer debts at a lower interest rate. American Consumer Credit Counseling negotiates with your creditors to set up one monthly payment to repay the debt over three to five years. ACCC debt management programs are available at a small fee.
- Credit card debt consolidation plans to help consumers become debt free in five years or less
- Reduces interest rates by 30-50%
- Consolidates debt into one lower monthly payment
- Pays creditors monthly, but at reduced interest rates
- Stops harassing phone calls from debt collectors
Bankruptcy counseling: ACCC is approved by the Department of Justice to offer two court-mandated pre-filing counseling sessions. The first session occurs before you file for bankruptcy, and the second before your debts are discharged. During these sessions, a counselor analyzes your current financial condition to provide valuable insights that help you and your legal counsel make informed decisions.
Student loan counseling: Student loan counseling help consumers struggling with student loans manage their debts. During your sessions, a counselor outlines the most practical repayment options. For an additional fee, the counselor may also contact your issuer on your behalf.
Housing counseling: ACCC housing counseling is provided by certified housing counselors. This service is ideal for first-time homeowners’ buyers seeking online homebuyer courses and homeowners considering a reverse mortgage.
Is American Consumer Credit Counseling Inc, Legit?
Yes, American Consumer Credit Counseling (ACCC) is a legitimate non-profit credit counseling agency that has been accredited by the Better Business Bureau (BBB) since 1993. The organization is also a member of the National Foundation for Credit Counseling (NFCC) and adheres to their high standards for ethical and professional conduct. American Consumer Credit Counseling is listed on the Department of Justice’s website at – https://www.justice.gov/ust/credit-counseling-by-state/New-York – verifying “they are legit.”
ACCC offers a range of financial services, including credit counseling, debt management, bankruptcy counseling, housing counseling, and financial education. And it’s a positive trait when debt relief companies offer more than one service.
Their counselors are certified and trained to provide personalized advice and assistance to individuals and families struggling with debt and financial difficulties.
It is important to note that credit counseling agencies like ACCC are not a quick fix or a magic solution for debt problems. They can provide valuable guidance and support, but ultimately, it is up to the individual to make a commitment to changing their spending habits and sticking to a debt management plan.
About American Consumer Credit Counseling Inc
- Legal Name: American Consumer Credit Counseling Inc
- Who Owns American Consumer Credit Counseling Inc?: American Consumer Credit Counseling (ACCC) is a nonprofit (501) (c)(3) organization founded in 1991.
- Industry: Finance
- Address: 130 Rumford Ave Ste 202 Auburndale, MA 02466-1370
- Website: https://www.consumercredit.com/
- Phone Number: (800) 769-3571
- Licensed?: Yes
- Type of license: consumer credit counseling
- Where is American Consumer Credit Counseling Inc Available?: Available in all 50 states and Washington, D.C.
- Certifications and Accreditations: Accredited by Council on Accreditation (COA) and National Foundation for Credit Counseling (NFCC). ACCC is also approved by Executive Office for U.S. Trustees (EOUST) to offer the required counseling.
American Consumer Credit Counseling program Pros
- Offers free initial credit counseling and budget consultation
- Offers a debt management plan that allows you to consolidate several unsecured debts
- A great way to lower interest and repayment rates
- Can help you pay off debts faster
- Eliminate the frustrating collection calls
- Offers services in English and Spanish
American Consumer Credit Counseling Cons
- You must be committed to making agreed-upon payments to enroll in debt management plans.
- You can’t add secured debts to the debt management plan
- Creditors may refuse to be part of the plan
Does American Consumer Credit Counseling hurt your credit?
Whether ACCC services will hurt your credit depends on the programs you are enrolled in. generally, scheduling an initial credit counseling consultation doesn’t affect your credit. However, you may lose some credit points after enrolling in a debt management program.
How much does American Consumer Credit Counseling cost?
The following is a summary of the service fees for American Consumer Credit Counseling:
- General budgeting and advice: Free.
- Debt management plan: Maximum $39 startup fee. The monthly fee of $7 per account is capped at $70. Depending on a consumer’s financial hardship and state regulations, these fees can be reduced or waived.
- Bankruptcy counseling: Pre-filing: $49/ Pre-discharge: $39.
- Student loans: Free to $199 based on the level of service
- Housing counseling: Free to $199 based on the level of service
Reviews on American Consumer Credit Counseling Inc, at BBB
American Consumer Credit Counseling Inc has been BBB accredited since 6/30/2009. ACCC has a current rating of 4.84/5 based on an average of 386 customer reviews. Consumers who use ACCC most often point out:
- Top-notch customer service
- High professionalism and a strong transparency
- Ease of use and convenience
American Consumer Credit Counseling complaints at BBB
There are few American Consumer Credit Counseling complaints at BBB. Two complaints were closed in the last three years, with one complaint closed in the last 12 months. Most of these complaints are related to unsatisfactory customer service related to long waiting times on calls.
American Consumer Credit Counseling Inc, Yelp Review
There is only one review of American Consumer Credit Counseling Inc on Yelp. The review was done on 9/29/2016 and reads.” These folks are helpful, responsive, and kind. I recommend anyone who is experiencing credit issues to use their services.”
How to cancel American Consumer Credit Counseling Inc
Yes, you can cancel American Consumer Credit Counseling Inc at any time. Typically, debt management programs are voluntary, meaning complex contracts do not tie you. If you want to cancel, contact the company at (800) 769-3571. However, remember you risk losing any agreed-upon concessions with creditors after canceling.
American Consumer Credit Counseling Inc. could be ideal if you have tried to get out of debt but have yet to make progress. It is undoubtedly one of the leading credit counseling service providers helping debtors struggling with debt repayment avoid bankruptcy. Overall, the company enjoys a solid reputation and a proven track record of helping delinquent people manage their debt and regain their financial bearing for a debt-free future. Before enrolling in any of their programs, check the charges to ensure they are within your budget limit.