1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 1. How do I know that my money is secure with your consumer credit counseling agency? CACC is a 501(c)3 not-for-profit agency licensed through the New York State Banking Department, bonded and insured. These governing bodies require compliance with core policies that ensure confidentiality, protection of client funds, high-quality management and the highest ethical standards. 2. Will you contact my employer? No, your call to our agency is confidential. We will not even contact your creditors until you have officially enrolled in our program. 3. How will your program affect my credit? Creditors may report that you are utilizing a debt repayment service to make your payments. Depending on your current credit standing, this may be viewed positively or negatively. Entering a program to pay off your debt, and following through with it, can improve your credit over the long term because your debt to income ratio will improve. 4. How is CACC different from a regular for-profit debt consolidation program? A for-profit debt consolidator is less likely to obtain the interest rate reductions CACC obtains. Moreover, for-profit dept consolidators' fees are sometimes twice as much as ours. For-profit debt consolidators have recently come under scrutiny for holding payments in trust accounts in order to settle the accounts for an amount less than the original balance, or holding payments on deposit until clients have completed their program. Both of these practices can damage your credit profile. 5. Besides credit card companies, can CACC help with mortgage companies, auto-finance companies, utilities, credit unions, retailers or banks? CACC handles only unsecured debt - usually only credit card debt. Should your account be with a third party collection agency or you haven't made payments in a long time CACC will attempt to include such accounts in your debt management program. 6. Will I still receive statements from my creditors? Yes, you will still receive your statements. These will allow you to view the payments we've made to each creditor. 7. Will I receive a statement from CACC? Yes, you will receive a monthly statement from CACC, that will give you a detailed report of all disbursed payments made on your behalf for the month. 8. Why will creditors work with you, but not with me? CACC is a licenced not-for-profit, credit counseling agency. As such, we are privy to unique concessions that consumers can benefit from once they are enrolled in our debt management program. These concessions are not available to individuals. 9. Is there any reason why I would be removed from the program? Failure to make payments for two consecutive months will result in termination of your debt management program. Your accounts will go to their previous interest rates and you will be fully responsible for your credit card situation. Please make all payments on time to ensure the success of your plan.