Under the NAICS (North American Industry Classification System) Establishments providing debt counseling or adjustment services for individuals are classified in Industry 541990.

Credit counseling programs are debt repayment programs operated by non-profit organizations that are primarily funded by your creditors. They can consolidate unsecured debts, major credit cards, personal and student loans. You choose the accounts you want to enter into the program when joining. Once enrolled, the company will contact your creditors to negotiate more favorable repayment terms on your accounts including a reduction in your interest rates and the elimination of late fees. You will then send that company one payment monthly which they will disperse to the creditors you enrolled on your account when joining.

Although most CCCS (Consumer Credit Counseling Services) advertise a savings of 50%, in reality their clients average savings is between 20 - 30% which is still a very favorable debt relief option.