Letter: Financial Counseling Available to Area Residents

It is common knowledge that residents of our community face increasingly difficult financial times.

From job changes to divorce, overuse of credit to medical expenses, rising costs of living to escalating interest rates, people are struggling to make ends meet. What many people may not know is that Consumer Credit Counseling Service (CCCS) provides free financial counseling, right here in Portage County and the surrounding area.

Consumer Credit Counseling, a program of (FCS), has been a resource in this community for over 30 years. As the largest not-for-profit social service agency in the area, FCS can respond quickly and compassionately. Individuals and families who encounter adversity or have difficulty coping with the basics of living can contact us for help. FCS has the ability, experience and program diversity to help meet emergency needs, as well as work directly with people to develop long-term independence and financial stability.

Trends within the credit industry and local economy frequently result in a consumer's inability to maintain minimum payments required by credit lenders. Although for-profit companies highly advertise debt reduction, settlement or consolidation options, there are often exorbitant fees, possible tax penalties and credit damages that may result in taking this route. Furthermore, these companies are
typically accessible only by a toll-free number or website. Through a certified, non-profit program, people can meet face to face with a financial counselor, or by phone if preferred, and can actively participate in their financial future.

Certified credit counselors at CCCS provide confidential, professional and personalized financial counseling locally. Through a detailed income and expense analysis, counselors assist consumers to better understand their household finances and develop financial goals. In addition, counselors will provide feasible options to help people pay down their unsecured debts (such as credit cards, medical bills or collection debts). CCCS offers a debt management program (DMP) that eliminates full balances owed in a maximum of five years. Through this program, many creditors significantly decrease interest rates and waive late and/or over limit fees, which can make the consumers’ money “work harder” and therefore reduce balances more effectively.

A single monthly payment simplifies household finances and can assist individuals or families to avoid delinquency, collections or bankruptcy by offering a manageable payment option. The DMP has also helped CCCS clients to improve their credit ratings, based on results of successful participants in Portage County.

CCCS also offers financial literacy programs in partnership with the S.A.F.E. program (Strategies for Attaining Financial Empowerment). Free education courses offered to the local community include:
Banking Basics, Credit 101, Credit Reporting, Basic Budgets, and Custom Financial Classes to meet the individual needs of a target audience. Also available is a Credit Counseling Services Overview, ideal for local businesses and community organizations to provide financial counseling information to employees and members in need of legitimate, personalized assistance.

For additional information or to schedule an appointment or financial literacy presentation, please contact CCCS at 330-297-0080, ext. 362. In-person appointments are available in Ravenna, Kent and Akron, or by phone.

Kelly Paton, Consumer Credit Counseling Services                               Family & Community Services