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CredAbility to Acquire Consumer Credit Counseling Service

ATLANTA, GA, September 24, 2010 - CredAbility, one of the leading nonprofit credit counseling and education agencies in the United States, today announced an agreement to acquire the Consumer Credit Counseling Service (CCCS) program of Compass of Carolina, a multi-service nonprofit agency based in Greenville, South Carolina. All other services of Compass of Carolina will remain with Compass.

The acquisition has been approved by the board of directors of both organizations. It will become effective on November 1.

Compass/CCCS has three offices in Greenville, Spartanburg and Greenwood. Its CCCS program was started in 1971 and provides budget, credit, and pre-filing bankruptcy counseling, debtor education and debt management plans.

"This is exciting news for both organizations." said Suzanne Boas, president of CredAbility. "We provide many of the same services and share the same values. Combining the Compass/CCCS program with CredAbility will enable us to serve additional clients in the southeast."

"We are pleased that our CCCS program will join a national nonprofit credit counseling agency that can provide our clients with additional services," said Thomas Bannister, president of Compass of Carolina. "The addition of CredAbility's housing counseling services, its 24/7 convenience and its bilingual staff will benefit many residents of upstate South Carolina."

The three South Carolina offices are in cities that serve approximately 700,000 persons who will now gain access to an organization with more than 300 credit, housing and bankruptcy counselors accessible 24/7 by telephone and Internet, in English and Spanish.

While CredAbility already provides counseling to consumers in all 50 states, this acquisition enables CredAbility to expand its face-to-face counseling offices to a fifth state in the southeast. CredAbility already has 28 offices in Georgia, Florida, Tennessee and Mississippi.

About CredAbility
CredAbility is one of the leading nonprofit credit counseling and education agencies in the United States, serving clients in all 50 states plus the District of Columbia, Guam, Puerto Rico and the US Virgin Islands, in both English and Spanish. In addition to providing counseling via telephone and internet, CredAbility operates 28 offices across the southeast, including 25 offices where people can receive in-person counseling.

Founded in 1964, CredAbility is a family of Consumer Credit Counseling Service agencies that includes CCCS of Greater Atlanta, CCCS of Central Florida and the Florida Gulf Coast, CCCS of Palm Beach County and the Treasure Coast, CCCS of East Tennessee and CCCS of Jackson (Mississippi).

The nonprofit agency is accredited by the Council on Accreditation and is a member of the Better Business Bureau and the National Foundation for Credit Counseling (NFCC). Governed by a community-based board of directors, CredAbility is funded by creditors, clients, individual donors and grants from foundations, businesses and government agencies. Service is provided 24/7 by phone at 800.251.2227 and online at www.CredAbility.org.

About Compass of Carolina
Compass of Carolina is a multi-service, community-based nonprofit organization that has been serving upstate South Carolina since 1919. The nonprofit agency is accredited by the Council on Accreditation and is a member of the Better Business Bureau and the National Foundation for Credit Counseling (NFCC). Governed by a community-based board of directors, Compass of Carolina is funded by creditors, clients, contributors and grants from foundations, businesses and government agencies. Compass will continue to provide family counseling, a program for perpetrators and one for victims of domestic violence, a juvenile delinquency program and a representative payee program. The organization's mission is to strengthen the community by strengthening individuals and families. It has three offices in Greenville, Spartanburg and Greenwood.

Media Contacts - CredAbility

Scott Scredon
404.653.8833 office
770.315.0745 cell
Scott.Scredon@CredAbility.org

John McCosh
404.260.3108 office
404.272.0010 cell
John.McCosh@CredAbility.org

Media Contacts – Compass of Carolina

Thomas Bannister
864.467.3434 office

Andrea Bennett
864.467.3434 office
info@compassofcarolina.org