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Finding Help During a Difficult Time
 Jennifer and Jack, a young couple with twin boys, met with a CCCS counselor after a job loss and the resulting change in income made it difficult to keep up with their monthly expenses. They had accumulated debt before the birth of their children because, at that time, they had the means to maintain that standard of living. Until the change in income, they had been able to keep everything current, but decided to come to CCCS when it became evident that they could not manage things without some outside help.
“We finally reached a point where we could no longer pay off the debt on our own and were looking for direction,” Jennifer explains. “I am working now but at a lower pay scale than before. With day care costs for both boys and all the other changes in our life, we found ourselves getting into a scary situation. It was difficult to realize we had reached the point where we needed financial help, but our counselor made it very easy to discuss the situation.” After a thorough review of their income, expenses and outstanding debt and a discussion of options, Jennifer, Jack and their CCCS counselor, René, agreed that the CCCS Debt Management program would be right for them.
The initial counseling session is
often the first step to learning how to manage money wisely. “I like to help people understand the importance of developing a budget and sticking to it,” their CCCS counselor, René states. “Tracking expenses, prioritizing wants and needs, and following a spending plan are necessary skills for creating financial stability. Jennifer and Jack seem to be very committed to doing what is needed to get through this difficult time.”
Jennifer realized the impact it has had on her family. “Dealing with the change in income and extra expenses, we’ve looked at every category in out budget and cut back wherever possible,” she points out. “Our goal is to live within our means. We now have hope of obtaining a reasonable budget to help us reach our goals each month and avoid filing bankruptcy. This program has taken a lot of daily stress off our shoulders knowing that in a few years we will have a clean slate.” |
 Credit Repair
If you would like to start your own small business, these organizations can provide training and support.
Tips to Build Your Credit History
- Apply for a small loan at the bank, thrift, or credit union where youhave checking and savings accounts.
- Make a large downpayment on a purchase and negotiate credit payments for the balance. If you do not have credit history but have a large downpayment, there is less risk you will not make the payments. For example, if you are buying a used car for $5,000 and have enough cash, you might consider making a down payment of $1,000-$3,000. Although the loan will be very small, it can prove you make your payments on time.
- You might ask a friend or relative, with an established credit history, to be a co-signer for you. A co-signer promises to repay the loan if you don’t.
- Pay your bills on time. This will help establish a good credit history, so you can get credit in the future.
- You might ask the lender to review your history of making rent and utility payments to demonstrate your ability to pay.
Source: FDIC-Money Smart-Financial Education Curriculum “To Your Credit”
If you need to repair your credit, find help in meeting your credit obligations, or get information about your credit history, these organizations are for you.
Annual Credit Report
Services: Free credit report
Description: One free credit report every 12 months
Clients Served: Everyone
Fees: Free
Format: By phone or online
Service Area: Nationwide
Phone: 1-877-322-8228
Web: www.ANNUALcreditreport.com
Consumer Credit Counseling Services (CCCS) of Middle Tennessee
Services: Debt Management Program
Description: This program is designed to help people pay off debt by working with your creditors to reduce interest rates, bring accounts current, and/or forgive late or over limit fees. If you have a credit card, medical bill, or other unsecured debt that is hard to manage, this program may be the best way to get your finances under control.
Clients Served: Everyone
Fees: Sliding scale
Format: one-on-one; call for appointment
Hours: M-F 8-5
Service Area: Tennessee
Phone: 615-777-3404
Web: www.cccservices.com
Residential Resources Inc.
Services: Credit repair
Description: Instructions to understand credit reports, credit scoring, obtaining and sustaining good credit; and guidance with formulating budgets
Clients Served: All - especially very low to medium income levels
Fees: Free
Format: Individualized extended counseling
Hours: M-F 9-6; Appointments only
Service Area: Nashville (Davidson – Rutherford) Murfreesboro MSA
Phone: 615-650-9779
Web: www.residentialresourcesinc.com
Level of Information: Beginner, Intermediate and Advanced
CCCS of Middle Tennessee, Inc.
1101 Kermit Dr., Ste 204
Nashville, TN 37217
Appointment #: (800) 355-2227
Middle Tennesee
CCCS of Middle Tennessee, Inc.
1101 Kermit Dr., Ste 204
Nashville, TN 37217
Appointment #: (800) 355-2227
CCCS of Middle Tennessee, Inc.
201 E. Main Street, Suite 100
Murfreesboro, TN 37130
Appointment #: (800) 355-2227
CCCS of Middle Tennessee, Inc.
225 N. Willow Ave.
Cookeville, TN 38501
Appointment #: (800) 355-2227
ClearPoint Financial Solutions, Inc.
1685 Ft. Campbell Blvd, Ste D
Clarksville, TN 37042-3513
Appointment #: (800) 966-3328
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