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How can I get my loan with a Credit Counseling Corp. transferred to another bank, this hurt my credit!!!!? |
How can I get my loan with a Credit Counseling Corp. transferred to another bank, this hurt my credit!!!!? I'm not sure what you're asking, but I'll respond by saying Consumer Credit Counseling does not give loans. They are a company that helps fix your credit report and teaches you how to be responsible with your money. This is the procedure: You fill out an application and give them a list of your creditors (with addresses and phone numbers) and how much you owe each place. The CCC then talks with your creditors and tries to get the amounts you owe down to a level so you can pay off those bills. The credit companies agree to cut off the interest. The CCC then makes you cut up all your credit cards and sets up (for a fee) a repayment schedule for you. Then each month you pay to the CCC one large payment and they pay your bills for you until they are paid off. People use the Consumer Credit Counseling "instead of" going into bankruptcy. So yes, if you go thru the CCC then it goes on your credit report that you are trying to repay your bills. When new creditors see the CCC rating they will hesitate and not give you any more credit until you have paid off your old debts. |
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