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Illinois is no different from the rest of the country – many of its residents are in need of debt consolidation and consumer credit counseling services. With television and radio seemingly playing debt management ads every other commercial break, it is unfortunate that so few people understand what type of services are actually being offered. Even worse people have even more trouble figuring out how to differentiate the reputable companies from the agencies that are not. The purpose of this page is to educate Illinois consumers about what forms of debt consolidation are available to people struggling with debt, as well as what laws are available to protect consumers from scams. There are two types of debt consolidation services currently available to people with credit card debt. The oldest debt programs are credit counseling services. The agencies that offer this type of assistance are usually non-profit, and they offer education classes for the public about managing finances, as well as individual budget counseling. If your situation permits, they may suggest you enroll in a debt management plan. These programs entail restructuring your debt on new payment terms, including reduced interest rates and waived late fees. Although many of the agencies who offer these programs are non-profit, that is no guarantee the services are affordable. Fees are charged for setting up and maintaining these plans, which must be limited according to the guidelines detailed later on in this page. One of the newest forms of debt relief out there is debt settlement. This process involves getting creditors to accept 40 to 60% of a debt balance in a lump sum in full satisfaction of a debt. Due to the fact that you can pay back less than what you owe, it is generally the fastest way out of debt other than bankruptcy. Although the potential savings are significant, the risks associated with doing settlement makes this a logical option for people who are considering bankruptcy. Do you want to speak with a debt advisor? Submit a form and PayingPaul.Com will match you for free! Illinois Debt Management Laws There are a number of safeguards in Illinois to protect consumers from unscrupulous debt counselors / consolidators. Much of the laws that are in place deal with the fees that can be charged for administering these types of programs. Definition According to the Illinois Division of Financial Institutions, “debt management services” involves “the planning and management of the financial affairs of a debtor for a fee and the receiving of money from the debtor for the purpose of distributing it to the debtor's personal creditors in payment or partial payment of the debtor's obligations or soliciting financial contributions from creditors.” Fees Companies who provide services that fall under this definition are required to abide by the following fee restrictions: -a set up or consulting fee cannot exceed $50 -the median fee a company charges on a monthly basis cannot be more than $30 Licensed Debt Agenices 6:10 Services D/B/A Debt-Free America 8355 Aero Drive, Suite 200 San Diego CA 92123 AAA Cook County Consolidation 7366 North Lincoln Avenue Lincolnwood IL 60712 Alliance Credit Counseling, Inc. 15720 John J. Delaney Drive #100 Charlotte NC 28227-2747 American Credit Counselors, Inc. 23123 State Rd. 7, Suite 210 Boca Raton FL 33428 Black Hills Children's Ranch, Inc. d/b/a Pioneer Credit & Debt Consolidation 1644 Concourse Drive P.O. Box 6860 Rapid City SD 57709 Budget Counselors Plus, Incorporated 501 North Clinton Bloomington IL 61701 Capital Management Services, Inc. 1415 West 22Nd Street Tower Floor Oak Brook IL 60523 Central Illinois Debt Management & Credit Education, Inc. 222 E. North Street Decatur IL 62525 Central Illinois Debt Management & Credit Education, Inc. 719 Main Street, Suite A & B Peoria IL 61602 Central Illinois Debt Management & Credit Education, Inc. 201 W. Springfield Champaign IL 61824 Chestnut Health Systems, CCCS Chestnut Credit Counseling Services 151 N. Springfield, Suite C Joliet IL 60435 Chestnut Health Systems, CCCS Chestnut Credit Counseling Services CCCS 1003 Martin Luther King Jr. Drive Bloomington IL 61701 Chestnut Health Systems/Chestnut Cr.Cou 50 Northgate Industrial Drive Granite City IL 62040 Christian Financial Ministries, Inc. 850-B Old Piedmont Road Marietta GA 30066 ClearPoint Financial Solutions, Inc. 1890 Maine Street Quincy IL 62301 ClearPoint Financial Solutions, Inc. 1623 Washington Avenue, Suite 200 Alton IL 62002 ClearPoint Financial Solutions, Inc. 123 South 10th Street, Suite 205 Mount Vernon IL 62864 ClearPoint Financial Solutions 159 W. Professional Park, Suite 1 4505 North Illinois Swansea IL 62226 ClearPoint Financial Solutions, Inc. 1616 West Main Street, Suite 200 Marion IL 62959 ClearPoint Financial Solutions, Inc. 2937 Stanton Ave., Suite A Springfield IL 62703 ClearPoint Financial Solutions, Inc. 1300 Hampton Avenue St. Louis MO 63139 ClearPoint Financial Solutions, Inc. 8000 Franklin Farms Drive Richmond VA 23229 Community Credit Counseling Corporation 5 Professional Circle, Route 34 Colts Neck NJ 07722 Consumer Credit Counseling Division of Family Counseling Service 70 South River Street, Suite 2 Aurora IL 60506 Consumer Credit Counseling Service of Greater Atlanta, Inc. 100 Edgewood Avenue, Suite 1800 Atlanta GA 30303 Consumer Credit Counseling Service of Mchenry County, Inc. 400 Russel Court Woodstock IL 60098 Consolidated Credit Counseling Services, Inc. 5701 West Sunrise Blvd. Fort Lauderdale FL 33313 Consumer Credit Counseling Service of Elgin 22 South Spring Street Elgin IL 60120 Consumer Credit Counseling Service of the Midwest, Inc. 4500 E. Broad Street Columbus OH 43213 Consumer Credit Nationwide 3445 Spring Street Davenport IA 52807 Consumer Debt Counselors, Inc 122 Harger Road, Suite 410 Oak Brook IL 60523 Consumers Alliance Processing Corporation 5937 Darwin Court Carlsbad CA 92008 Credit Advisors Foundation 1818 S. 72nd Street Omaha NE 68124-1704 Creditguard of America Inc. 5301 North Federal Highway, Suite 230 Boca Raton FL 33487 Debt Management Credit Counseling Corp. 700 Banyan Trail, Suite 200 Boca Raton FL 33431 Consumer Credit Counseling Service of Maryland and Delaware, 757 Frederick Road, 2nd Floor Baltimore MD 21228 Consumer Credit Counseling Service of San Francisco 595 Market Street, Suite 1500 San Francisco CA 94105 Consumer Credit Management, Inc. 28124 Orchard Lake Road Farmington Hill MI 48334 Consumer Credit Nationwide 1701 Broadmoor, Suite 220 Champaign IL 61821 Consumer Education Services, Inc. 3035 Boone Trail Extension, Suite M Fayetteville NC 28304 Credicure, Inc. 301 North Mildred Street Charles Town WV 25414 Credit Card Management Services, Inc . 4611 Okeechobee Blvd. Suite 114 West Palm Beach FL 33417 Debt Counseling Corp. 3033 Express Drive North Suite 103 Hauppauge NY 11749 Debt Reduction Services, Inc. 6213 N. Cloverdale Road, Suite 100 Boise ID 83713 Family Credit Counseling Service, Inc. 1607 Visa Drive, Unit #10 Normal IL 61761 Family Credit Counseling Service, Inc. 4306 Charles Street Rockford IL 61108 Family Credit Counseling Service, Inc. 7354 W. Addison Street Chicago IL 60634 Family Financial Education Foundation 724 Front Street, Suite 340 Evanston WY 82930 Family Service of Racine 420 7th Street Racine WI 53403 Family Life Services D/B/A Family Life Credit Services 2345 Meadow Ridge Pkwy. West Fargo ND 58078 FreedomPoint Corporation 8930 Stanford Boulevard Columbia MD 21045 Girard Personal Accounting Service 404 East Walnut Street Bloomington IL 61701 Garden State Consumer Credit Counseling, Inc. 225 Willowbrook Road Freehold NJ 07728 Greenpath, Inc. D/B/A Greenpath Debt Solutions 150-16 1/2 Street Rock Island IL 61201 In Charge Debt Solutions D/B/A In Charge Debt Solutions 2101 Park Center Drive, Suite 320 Orlando FL 32835 Kennedy's Budget Counselors, Inc. 7 Arcade Court Lincoln IL 62656 Institute For Debt Relief 400 East Randolph, Suite 700 Chicago IL 60601 Metropolitan Financial Management Corp. D/B/A Auriton Solutions> 201 East Army Trail Road, Suite 300 Bloomingdale IL 60108 Metropolitan Financial Management Corp. D/B/A Auriton Solutions 1700 West Highway 36, Suite 301 Roseville MN 55113 Momentive Consumer Credit Counseling Service, Inc. 615 North Alabama Street, Suite 134 Indianapolis IN 46204 Momentive Consumer Credit Counseling Service, Inc. 602 E. Fifth Street Mt. Carmel IL 62863 Money Management International, Inc D/B/A CCCS of Greater Chicago 70 East Lake Street, Suite 1115 Chicago IL 60601 Money Management International, Inc. D/B/A CCCS of Greater Chicago 1200 Rossevelt Road, Suite 121 Glen Ellyn IL 60137 Money Management International, Inc. D/B/A CCCS of Greater Chicago 129 South Phelps Avenue, Suite 811 Rockford IL 61108 Money Management International, Inc. D/B/A CCCS of Greater Chicago 16860 South Oak Park Avenue, Suite 102 Tinley Park IL 60477 Money Management International, Inc. d/b/a CCCS of Central Illinois 416 Main Streeet, Suite 920 Peoria IL 60602 Money Management International, Inc. D/B/A CCCS of Greater Chicago 9009 West Loop South, Suite 700 Houston TX 77096 Money Management International, Inc. D/B/A CCCS of Greater Chicago 1515 North Harlem Avenue, Suite 205 Oak Park IL 60302 Money Management International, Inc. D/B/A CCCS of Greater Chicago 3601 Algonquin Road, Suite 230 Rolling Meadows IL 60008 Money Management International, Inc. D/B/A CCCS of Greater Chicago 10000 N. 31St Avenue, Suite D-100 Phoenix AZ 85051 Money Management International, Inc. d/b/a CCCS of Greater Chicago 1320 South University Drive, Suite 200 Fort Worth TX 76107 National Foundation For Debt Management, Inc. D/B/A Alternative Credit Solutions 14100 58Th Street North Clearwater FL 33760 North Seattle Community College Foundation D/B/A American Financial Solutions 2815 2nd Avenue, Suite 280 Seattle WA 98121 National Consumer Resource Center, Inc. 3700 Coconut Creek Parkway Coconut Creek FL 33066 North American Consumer Credit Service Corporation 1761 W. Hillsboro Road, Suite 402 Deerfield Beach FL 33442 Springboard Non-Profit Consumer Credit 4351 Latham Street Riverside CA 92501 Take Charge America, Inc. 20620 N. 19Th Avenue Phoenix AZ 85027 Other Resources Filing Bankruptcy in Illinois Bankruptcy Laws in Illinois Debt Collection in Illinois |