I'm looking into these organizations. I want one that is non-profit and is really going to work for me. Has anyone tried one that they are happy with and how will using one reflect on my credit report?
j.w.
Favorite Answer
Credit Card Counseling ALWAYS reflects on your credit. NEGATIVELY! If you follow their plan and get out of debt, it will get better, either way it will take a year or more.. According to the amount of debt you have.. You can do the same thing they do, just takes time, patience, a bit of Savoy.
Read/research how to debt stack or snowball your debt Then call your creditors and make a deal to lower interest rate and stop extra fees. If you have something to give them right now you can settle for less than the amount.
Check for duplicate accounts, write credit bureas and have them deleted, And don't pay stuff that is over two years old..
If you pay someone, it can take hundreds, sometimes over a thousand to get it done correctly.
gabriel jones
Bad credit is one of the worst problems to have... however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is a straight to the point ebook with question and answer I found :
http://umgarticles.atspace.com/debt-consolidation.htm
if it helps kindly remember me in your voting!.. cheers!
narbo73
NONE!!!
They collect your payments but dont send them in.. The creditors only negotitate with the credit counselors after 3 months of non-payment. By then you have 90 day lates on all your accounts.
BAD NEWS.
Also,
Mortgage lenders and creditors look at credit counseling just as negetivly as a BK.
I have 2 friends that have used the credit couseling services and are worse off than another friend who filed BK.
Susan C
Consumer Credit Counseling is a non-profit and has been assisting people with credit issues for years.
How it will reflect on your credit report depends on the creditor. Consumer Credit Counseling can also negotiate on your behalf regarding what the creditors report.
Amy Z
None. Do the job yourself. The best credibility is to address your creditors first hand to negotiate, as you did when you signed the contract and applications. Most are a scam anyway and quite a few have the FTC and Attorney Generals offices from state to state investigating their scams. They take the money from you, set out a fictional financial plan or goal and house the money without addressing any creditors, or just send a Cease and Desist template that you sign to your creditors, THAT'S IT...that isn't negotiating on your behalf, that is highway robbery.