In The Press
Catonsville Times
Catonsville Times
Catonsville nonprofit helps woman reduce her debt
Marlena Clay-Boone has paid off nearly $30,000 of $68,000 debt By Brian Conlin,
A single mother for much of the time while she raised her son, Shelton, now 40, Clay-Boone knew how to stretch a dollar. She was willing to work overtime at her job at Verizon when those dollars couldn't be stretched far enough. But in 2009, she was in over her head.
In January, CCCS counseled 1,300 people in its offices, which are open 8 a.m. to 9 p.m. Monday through Thursday, 8 a.m. to 5 p.m. on Friday and 9 a.m. to 1 p.m. on Saturday. The office has a five-gallon jug filled with shards of credit cards in nearly every room in the office. The clients learn how to budget, save and pay bills on time. "They're learning new habits and ways to turn themselves around," Booker said. "They (also) need support. 'Once I'm taught these things, how do I set them in motion, how do I keep them in motion?'" In addition to teaching these skills, CCCS can often lower payments and reduce late fees. Those reductions are up to each individual creditor, Booker noted. The company charges clients $8 per creditor per month up to $35, Booker said, noting that in certain cases those fees may be waived. Catonsville resident Erin Dickerson is a counseling manager with CCCS who meets with people at the Frederick Road office. Often the difficult situations she sees include people who are either unemployed or under-employed. She said many have made the mistake of waiting too long and getting too deeply into debt before asking for help. "Everybody needs help at some point in their life. Don't be afraid to ask," Dickerson said. "I think if people would speak up a little sooner, they wouldn't find themselves in such a difficult situation." Though Clay-Boone was laid off from her job at Verizon in April, she said she has still managed to pay off some of her debt with her unemployment checks and pension. "I want to work, so I can pay off my bills a little faster," she said. Despite being unemployed for 10 months, Clay-Boone said she has a better grasp on her financial situation and plans to see the program to the end. "CCCS has been very inspirational to me and very helpful," Clay-Boone said. "I'm
not giving up".
"They put me on a different financial pace," Clay-Boone said of CCCS. "I feel a lot better. What they allowed me to do was to put my bills together on one monthly bill which helps me see what I have left." "It helps me to manage a lot better," she said. Not yet halfway through the five-year program, Clay-Boone has paid off nearly $30,000 of her debt as CCCS helped her get her interest rates lowered through a debt management plan. Clay-Boone is one of the tens of thousands of clients that CCCS helps each year.
Funding for CCCS, according to its website, comes from voluntary contributions from creditors, businesses, civic organizations and the community.
In 2010, the most recent year with complete data, CCCS had 32,400 new clients, 65 percent of which came from outside of Maryland and Delaware, said Deanna Booker, a community outreach manager with the company. The amount of debt ranged from $1,000 to $400,000, according to a release from the company. Those debt problems cross socio-economic lines, Booker said, whether people are unemployed or making six figures. On average, those seeking help have an annual income of $42,108 and owe $59,642 to 13 creditors, according to a release from the company. The 13 creditors come in many forms but often are credit card companies, saidBooker, a Catonsville resident.
"I've seen people go from just totally, totally rock bottom from a financial point view and watched them come up the ladder," Booker said.
The debt management plan allows people to pay back credit card debt, unsecured and secured loans and medical bills, according to the CCCS website. If a person visits CCCS at its Frederick Road office and chooses to enter the program, Booker said CCCS requires the person to cut up all their credit cards before leaving at the end of their first visit.
9:31 p.m. EST, January 7, 2012 The Baltimore Sun by Eileen Ambrose
After his mother's death six years ago, Doug Hamilton says, his financial life spiraled out of control. He spent freely, didn't pay his bills on time and had creditors calling him at work.
Marlena Clay-Boone says her financial problems started as her marriage fell apart. Eventually she racked up nearly $69,000 in credit card debt.
Both Baltimoreans have spent more than a year digging themselves out of debt. And both have agreed to share their stories, figuring their experiences might encourage others to tackle debt problems, with or without assistance.
"Whether it's small or big, the debt can be deadly," Hamilton, 49, says. "It's like a cancer that can devour you. The advice is: Don't be afraid to ask for help."
As holiday credit card bills roll in, this is the time of year when many consumers vow to gain control of their finances. Nationwide, consumers have made a big dent in total debt since the recession began in late 2007 — paying off $150 billion of a $942 billion credit card bill.
Debt experts urge patience: You probably didn't fall deep into the red overnight, so you can't expect to eradicate debt quickly either. It may take years of budgeting and faithful payments to get on track.
You can do this on your own, and many have. But others need help. Hamilton and Clay-Boone, for instance, turned to Consumer Credit Counseling Service of Maryland and Delaware, based in Catonsville, to get their finances in order.
The nonprofit offers free budget counseling and sometimes refers clients to social services to address underlying problems such as drug and gambling addictions.
About 20 percent of the agency's clients enter a debt-management plan, in which a counselor negotiates more favorable terms with card issuers. The client is then put on a repayment schedule that can last up to five years. Consumers pay a program fee of up to $35 a month, although that's sometimes waived. To qualify, clients must have enough income to pay bills, with some left over for emergencies.
Jim Godfrey, president of the counseling agency, says the number of people enrolling in debt management has fallen by one-quarter in the past year or so.
"People are so far in the hole that it's difficult to do anything for them," Godfrey says. "We have referred more people to seek legal assistance."
That can mean filing for bankruptcy.
Hamilton and Clay-Boone say that wasn't an option for them.
Hamilton, a sales representative, has been downsized twice in his career. He now works for ADT Security Services in Columbia and is paid only through commissions.
"If you're doing well, you make a great amount of money," says Hamilton, who says he earned about $70,000 last year. "If you're doing poorly, you could make no money."
Hamilton says that he never had great financial planning skills and that things only got worse after his mother died.
"It made me not care about a lot of things," he says.
He spent lavishly on friends, eating out and traveling. He was late paying bills, and penalties accrued.
"It was a horrible snowball rolling down a hill," he says.
In another sign of loss of control, he says, he gained so much weight that he hit 363 pounds on his nearly 6-foot frame.
His actions caught up with him. He was unable to maintain the house where he lived and moved in with his sister to save money.
She encouraged him to try credit counseling — a difficult step for him back in August 2010.
"It's a very personal thing, finances. It's like religion. It's like sex. It's hard to kind of really disclose everything about it," he says. "At this point, I had such pain. I had to alleviate that pain."
He talked to a credit counselor, who helped him budget and get a handle on his finances.
His debts, including credit cards, a student loan and a car loan, at the time amounted to $55,000. Through debt management, he took aim at his $6,229 in credit card debt and has whittled it down to $4,086. He says he's paid off more than one-third of his other debt.
He also enrolled in Weight Watchers and has shed 85 pounds.
It hasn't always been easy. He slipped up once when he didn't have enough to pay a card issuer. Hamilton has since worked out a payment plan with the creditor and is building a savings cushion so he won't have a shortfall again.
Early on, he says, the hardest part was giving up credit cards. Today, he sticks to a debit card.
For her part, Clay-Boone was happy to give up her plastic as part of her debt-management plan.
"I really didn't want to use the credit cards," she says. "I had that much debt."
Debts started piling up when she took on the bulk of household expenses as her marriage faltered several years ago, says Clay-Boone, 60. She worked 30 years with Verizon before taking a buyout in 2001, after which she held a variety of jobs.
Eventually, her card payments became too much to handle. "I was a little overwhelmed," she says.
She tried unsuccessfully to negotiate with creditors on her own before enrolling in debt management in October 2009. By then, her balance totaled $68,810 on about a dozen cards, one with a rate of 27 percent.
A counselor was able to get Clay-Boone's interest rates into the single digits. She now pays $1,263 a month under the debt plan and has worked off more than $28,000.
She has faced numerous challenges. The most serious: She was laid off last April from her customer service job at a Verizon subsidiary.
But she got some help. Several months ago, she qualified for a federally funded loan program designed to help homeowners who suffer temporary setbacks. It pays about 70 percent of monthly mortgage payments, for up to two years. If the homeowner continues to keep up with the payments thereafter, the federal loan is eventually forgiven.
Clay-Boone says her monthly income from an annuity and unemployment benefits is $3,120. She says that she doesn't have much left after paying her bills, and that an emergency could wipe out that cushion. She hopes to start job training this month so she can work as a medical assistant in a hospital.
"I am definitely not a person to give up," she says.
As the experiences of Hamilton and Clay-Boone illustrate, it's hard work to begin the process of eliminating debt. But it can be done.
"The first few months are actually the hardest," says Lynnette Khalfani-Cox, a money coach and author of "Zero Debt: The Ultimate Guide to Financial Freedom." She speaks from experience, having racked up $100,000 in credit card debt — which she paid off in three years.
She advises consumers digging out of debt to start by writing down all outstanding bills. Many people don't even know how much they owe, she says.
Look for expenses to cut. This might call for some tough choices. Khalfani-Cox, for instance, moved her children out of their pricey private school to a less expensive one.
Find ways to do things for free or cheaply. Khalfani-Cox goes to the library instead of buying books.
Negotiate with creditors to get better terms, she says.
And if you need help, check out a reputable nonprofit credit counseling agency.
Towson Patch
December 14, 2011
CCCS OF MD & DE APPOINTS DIRECTOR OF DEVELOPMENT
Local nonprofit agency Consumer Credit Counseling Service of MD & DE (CCCS) has appointed Michelle Nusum as its Director of Development and Strategic Partnerships.
Prior to promotion, Nusum worked as a grant writer at CCCS. In her new role, she will direct the development and implementation of key organizational strategies with a special emphasis on fundraising, engaging sponsors in ongoing service activities, and leveraging key relationships and contacts to ensure revenue goals. Nusum also will assist with the overall coordination of the agency’s outreach and community development agenda and oversee the efforts of key outreach and communications staff.
Before joining CCCS in 2010, Nusum served in numerous leadership roles for nonprofit and for-profit organizations. She has expertise in administration, financial management, marketing, fundraising, strategic planning, and public relations. She worked as the Executive Director for Coppin Heights Community Development Corporation (CHCDC), where she was charged with rebuilding the organization. From 2001 to 2006, she worked for the Coalition to End Childhood Lead Poisoning - Baltimore, MD. There, she managed and hosted a variety of programs and projects, including a state-wide community outreach and education effort.
When asked to comment on her new role, Nusum said, “I hope to expand CCCS’s presence within the nonprofit community and increase awareness of its mission and efforts among the general public. I look forward to helping CCCS develop strong, effective relationships with organizations that serve the same populations base we do. These partnerships will help us provide local residents with the financial education and skills they need to build wealth and gain long-term economic security.”
Consumer Credit Counseling Service of MD & DE, Inc. (CCCS) is an accredited nonprofit agency that has served the local community since 1966. CCCS is dedicated to helping individuals and families resolve their financial problems. We promote the wise use of credit through education and confidential budget, money management counseling, and housing counseling. MD State License #14-01
Catonsville Patch
September 30, 2011
CCCS OF MD & DE RECEIVES M&T GRANT
Catonsville-based nonprofit agency Consumer Credit Counseling Service of Maryland and Delaware (CCCS of MD & DE) has received a $5,000 grant from the M&T Bank Charitable Foundation (Baltimore, MD) in support of its Maryland-based financial counseling and community education activities. CCCS of MD & DE relies on the support of private donors like M&T Bank to fund these financial education and financial management activities not covered by public funding.
Since 1966, CCCS of MD & DE has been a leading advocate of financial education in Maryland. Through partnerships with organizations like M&T Bank, they are able to continue to improve the quality of life in local communities by helping people change their spending habits, build wealth and eliminate debt. In 2010, CCCS of MD & DE’s Maryland clients paid over $33 million toward reducing their debt and 834 paid off their consumer debt completely, many of whom have begun saving and investing for the future.
Each year CCCS of MD & DE helps thousands in financial crisis. Before the Great Recession, which is affecting every socioeconomic group, millions of people considered themselves “financially successful” because of their access to credit. Many consumers lived on the financial edge but managed not to slip. Today, many of those consumers find that they are unable to pay their bills and may even face foreclosure or bankruptcy. Others are only one pay check away. CCCS of MD & DE helps people in these situations to regain hope by empowering them to become economically self sufficient through education and counseling. Through dedication and discipline, people can pay off their debt and take back their lives.
“Our goal is to help stabilize communities by improving financial management skills and helping people regain control of their financial lives today,” Jim Godfrey, President and CEO of CCCS of MD & DE said. “We are thrilled by M&T’s commitment to our mission to create hope and to promote economic self-sufficiency to individuals, families and communities through financial education and counseling.” Local residents can access CCCS of MD & DE’s free counseling by calling 800-642-2227.
MIDNIGHT SUN
Eileen Ambrose
1:34 p.m. EDT, July 26, 2011
The Consumer Credit Counseling Service of Maryland and Delaware has some left over grant money and is using it to provide reverse-mortgage counseling for free until Aug. 31. Such counseling usually costs $125.
If you've been thinking of getting a reverse mortgage, you can call 1-866-731-8486 to make an appointment for counseling in person or over the phone. This deal is available to U.S. citizens in all states except for South Carolina and Massachusetts.
A reverse mortgage allows homeowners age 62 and up to tap the equity of their home. Instead of making payments on a loan, like with a traditional mortgage, the homeowner can receive a lump sum, line of credit or monthly check from the lender. The homeowner can remain in the house. The reverse mortgage is repaid when the homeowner moves or dies and the house is sold.
Counseling is required beforehand to make sure homeowners understand the risks.
New debt counseling program opens in Claymont next week
Delawareans who need help with finances or debt problems now have access to free counseling services in Claymont.
The program at Claymont Community Center, sponsored in conjunction with the Delaware Financial Literacy Institute and the Consumer Credit Counseling Services of Maryland & Delaware, will open with a ribbon-cutting ceremony Tuesday.
People interested in getting counseling at the Claymont center should call (877) 246-2026.
Contact Eric Ruth at 324-2428 or eruth@delawareonline.com.
CCCS of MD & DE Honored at MCEE Teachers' Summit, June 28, 2011, The Baltimore Sun 
L to R: MD Comptroller Peter Franchot, MD Senator Katherine Klausmeier, MCEE Executive Director Mary Ann Hewitt, CCCS of MD & DE President and CEO Jim Godfrey.
CCCS of MD & DE Honored at MCEE Teachers' Summit (nanstark) Local nonprofit Consumer Credit Counseling Service of Maryland and Delaware (CCCS) was awarded a Governors Citation today at the Maryland Council on Economic Educations third annual Teachers Summit. The award was presented by Senator Katherine Klausmeier in recognition of CCCSs commitment to economic and financial literacy and in appreciation of its ongoing support of economic and personal finance education in Maryland schools. President and CEO Jim Godfrey also received a special citation from Comptroller of Maryland Peter Franchot. In their remarks, both Senator Klausmeier and Comptroller Franchot emphasized how vital it is for Maryland students and adults to gain financial knowledge and skills.
CCCS of MD & DE has been an advocate of financial literacy in Maryland for 45 years. It presents educational seminars at businesses, public and private educational institutions, government agencies, and community organizations throughout the State. In 2010 alone, CCCS conducted 255 community outreach workshops for nearly 18,000 participants.
In 1993, CCCS formed a partnership with the Maryland Council on Economic Education to provide economic and personal finance training, curricula, and resources to teachers. Under this program, 65,000 Maryland teachers have received train-the-trainer workshops and have provided personal finance and life skills instruction to approximately 6 million children in grades K-12.
On behalf of CCCS, Jim Godfrey thanked the Governor and Comptroller Franchot. He also thanked the Maryland Council on Economic Education and Marylands dedicated teachers, noting, This is the third year the Teachers Summit has been held, and each year it just gets better. He went on to explain that being financially informed affects every aspect of our lives. The lessons that the Council and Coalition for Financial Literacy provide are ultimately passed down to Marylands students. The decision making skills they learn in class prepare them for life on their own and future success at home, within their communities, and in the workplace.
Date Taken: 06/25/2011
Catonsville nonprofit helps woman reduce her debt
2:15 PM EST, February 7, 2012
In 2009, Marlena Clay-Boone had $68,000 in debt and seemingly nowhere to turn. Then 57 years old, Clay-Boone had just gone through a divorce and had to use her credit cards to pay for several home repairs that came one after the other.
Clay-Boone learned about Consumer Credit Counseling Service of Maryland and Delaware (CCCS) from a supervisor and contacted the nonprofit on Frederick Road in Catonsville about digging her way out. That 20-minute phone call changed her life, she said. "I was very emotional that day and the (CCCS representative) spoke to me and told me about the program and how it worked," said Clay-Boone, an Arbutus resident for 24 years. "I never dreamed that I had that much debt."
