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 Minnesota, Consumer Credit Counseling Services (CCCS) are regulated under both state and federal laws. These agencies provide assistance with debt management, credit counseling, bankruptcy counseling, and education on credit reports and scores, among other financial services. As nonprofit organizations with 501(c)(3) status, they often offer services at no cost. Minnesota Statutes Chapter 332B regulates debt management and credit counseling services, requiring these agencies to be licensed by the Minnesota Department of Commerce. They must comply with various consumer protection provisions, such as providing detailed contracts, maintaining client funds in trust accounts, and offering clear disclosures about services and fees. Additionally, the federal Credit Repair Organizations Act (CROA) ensures that credit counseling agencies operate transparently and prohibits deceptive practices. Consumers are protected under the Fair Credit Reporting Act (FCRA) regarding their credit reports and scores, and the Federal Trade Commission (FTC) provides oversight to ensure that CCCS agencies adhere to ethical standards and provide genuine assistance to consumers.