General Educational Pamphlets: All clients have access to our numerous brochures regarding specific financial problems.  All of these brochures are provided to the client Free of Charge.  Based on the initial budget analysis and/or dialogue with the client, our certified counselors can provide informational material to the client that can be of assistance in overcoming this issue.  Some of our most popular material includes:  How To Reduce Your Debt, Knowing and Understanding Your Credit, Opening the Door to A Home of Your Own, Understanding Debt, and Applying for Credit and Charge Cards.

Cook County Consolidation's Library of Credit Education:  This catalog of financial resources includes relevant books on common financial issues that our clients seem to encounter.  In addition, we have included cassette products, and other financial literacy courses.  We provide this catalog Free of Charge to all of our clients.  Inside the catalog, these financial products are offered to our clients at, close to, a 50% off of the recommended price. Some of our more popular books have been: Money Troubles, Divorce and Money, Surviving Debt, and Do-It Yourself Credit File Correction Guide.
 

Bankruptcy Counseling:  We have formed an alliance with a local Bankruptcy attorney.   In the unfortunate cases that a Bankruptcy filing is the only answer, we will refer clients to the Bankruptcy attorney.  However, the real purpose of this alliance is that they provide Free Bankruptcy advice to our clients, with no added pressure to file.  We have discovered that most clients who have filed for bankruptcy, did so, on advice of their attorney, and really didn’t need to file.  Our hope is to educate the client on what Bankruptcy is, does for you, and alternative options.

Counseling Referral:  On occasion a client will need to be referred out to an appropriate support service.  ie. Psychological counseling, spousal abuse, drug abuse counseling, etc.  An overall list of approved support Agencies is available.

Debt Management Plans:  Our Financial Counselors can put you on a debt management program based on your personal income and debt levels.  We can find a comfortable payment for you, giving you just one check to write each month. Once Cook County Consolidation receives your payment, it will be dispersed in a timely fashion to the creditors.  We are one of the few agencies nationwide, that makes payments to creditors twice weekly!  This ensures your payment getting to your creditors with the least amount of hold time.  Cook County Consolidation is not a loan company, so you will not go further in debt. In fact, in most cases, your monthly payments will be reduced. We are supported by nearly all of the major creditors, and we have been able to lower the interest rates, and stop/reduce the late fees and penalties on your accounts.  Cook County Consolidation will make so that most of your payment is going towards your principal, not towards the interest. Our average client is able to pay off all of their debt within 48 to 60 months.

First Time Home Buying, and Affordable Community Housing: In order to advance the American Dream of home ownership and help stabilize the country’s housing market, Cook County Consolidation creates a pool of qualified, 1^st time home-buyers from clients that are successfully completing their debt management plan.  Hundreds of local neighborhoods and communities are the beneficiaries. Components of the plan include:

• Continued consultation with clients to eliminate all high-interest revolving debt thru DMP's.

• Credit repair initiatives for loans, collections, judgments and liens, not typically part of a DMP.

• Attention to stabilizing and increasing credit scores to meet minimum qualifying standards

• Initial, personalized budgeting plan with quarterly reviews/consultations

• Educate client's as to the role that income, debt and personal savings play in home financing.

• Prepare client's for residential financing underwriting standards: Credit, Capacity & Collateral.

Target Mortgage Financing Program for 1^st Time Homebuyers

• Federal Housing Authority (FHA), government insured residential loan.

• Minimum down-payment – 3.5%, can be partially or 100% gift money

• Seller concessions allowed up to 3.0% of purchase price

• Minimum credit score – 620

• Must have been in DMP a minimum of 12 months with a satisfactory payment history

• May Qualify for FHA residential financing while still in the plan with minimum standard noted above

• FHA 203k Rehab Loans are available: One loan for both the purchase & rehabilitation of the property.

Cook County Consolidation has previously established & will continue to partner with local and national lenders