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 New York, Consumer Credit Counseling Services (CCCS) agencies are regulated under both federal and state laws. These agencies provide assistance 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 offer services potentially free of charge or at a reduced cost. In New York, these agencies must comply with the state's laws governing debt management and credit counseling services. This includes adhering to the New York State Banking Law, which requires licensing for any business offering debt management services. Additionally, these agencies must follow the Federal Trade Commission's (FTC) rules on credit counseling and debt settlement services, which protect consumers from deceptive practices. The FTC mandates that these agencies provide specific disclosures about services, fees, and the potential impact on credit reports and scores. New York consumers seeking assistance from CCCS agencies can expect to receive help with reducing fees, stopping collection calls, lowering interest rates, consolidating bills, and improving financial management skills, all while being protected by a combination of state and federal regulations designed to ensure the services are provided fairly and transparently.