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.
