Corporate Profile for Consumer Credit Counseling Service of Los Angeles, dated Dec. 11, 1998

Business Wire, Dec 11, 1998

LOS ANGELES--(BUSINESS WIRE)--Dec. 11, 1998--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-

Published Date:   Dec. 11, 1998

Company Name:     Consumer Credit Counseling Service of Los Angeles

Address:          500 Citadel Dr., Suite 300
                  Los Angeles, Calif. 90041

Main Telephone
 Number:          800/750-2227

Internet Home
 Page Address
  (URL)           cccsla.org

Chief Executive
 Officer:         Gary Stroth

Chief Financial
 Officer:         Gary Stroth

Public Relations
 Contact:         Jennifer Root
 Business number: 323/890-9526
 Home number:     pager: 213/391-7384

Industry:         Debt & credit counseling

Company description: Established in 1966, Consumer Credit Counseling Service of Los Angeles (CCCS-LA) is a nonprofit community service dedicated to helping people help themselves prevent and solve personal money management difficulties through professional programs of consumer credit education, debt counseling and debt repayment programs.

Through CCCS-LA's debt management program (DMP), clients can repay 100 percent of their debt over time, rather than filing for bankruptcy. CCCS-LA works as an intermediary between clients and creditors. As an incentive, many creditors waive or reduce interest charges and/or late fees for clients on CCCS-LA's program, enabling them to catch up more quickly. The DMPs serve the dual role of helping CCCS-LA's clients repay their debts and helping creditors collect the money owed them.

CCCS-LA counseled 37,047 families in 1997. Although people with debt problems come from all income and educational levels, CCCS-LA's average client has a gross family income of $3,000 per month, is 37 years old, owes $22,416 (not including mortgage) with 9.5 credit cards.

Nationally, CCCS has 200 offices with more than 1,300 counseling locations in the United States, Canada and Puerto Rico. All CCCSs are members of the National Foundation for Consumer Credit. CCCS-LA can be reached at 800/750-CCCS within Southern California and 323/890-9500 from outside of the area.