Consumer credit counseling services (CCCS) agencies provide financial and debt-relief information in one-on-one counseling sessions, and in online services. Credit counseling agencies help persons of all income levels (1) eliminate late fees and over-limit charges; (2) stop collection calls; (3) lower interest rates (regardless of credit score); (4) consolidate bills into one smaller monthly payment; (5) pay off debt faster; and (6) improve spending, budgeting, and money management skills.

CCCS often include issues such as (1) debt collection management; (2) credit and debt counseling; (3) bankruptcy; (4) credit reports and credit scores; and (5) reverse mortgages.

CCCS agencies are Internal Revenue Service 501(c)(3) nonprofit organizations that will help you find a workable solution to financial problems—usually free of charge.

In Connecticut (CT), consumer credit counseling services (CCCS) are regulated under both federal and state laws. These agencies are typically nonprofit organizations that offer assistance to individuals seeking help with debt management, credit counseling, bankruptcy counseling, and financial education. Under the Internal Revenue Code, CCCS agencies that are designated as 501(c)(3) nonprofit organizations are exempt from federal income tax, which allows them to provide services often at a reduced cost or for free. Connecticut state law requires that any agency providing debt negotiation services, which includes some activities of CCCS agencies, must be licensed by the Connecticut Department of Banking. This ensures that the agencies comply with consumer protection laws and operate in a manner that is fair and transparent. Additionally, the Federal Trade Commission (FTC) enforces rules regarding credit counseling and debt relief services to protect consumers from deceptive practices. Consumers in Connecticut can benefit from the services offered by CCCS agencies to improve their financial situation, but it is important to verify that the agency is properly licensed and accredited before engaging their services.