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| *Loan,banking and credit>>>credit counseling |
How does using Credit Counseling Services affect my credit? |
How does using Credit Counseling Services affect my credit? Several year ago I used Consumer Credit Counseling Services and was debt free in 36-months. They are a free service and work with your creditors to lower both your monthly payments and your interest rates. The only negative is that while you are in credit counseling your accounts show as "Included in credit counseling" on your credit report. This makes it hard to get any additional credit but if you are in the deep you have no reason to be trying to borrow additional money in the first place. Source(s): Finance Manager for over 7-years. It depends what they do with your debt.... U will just be wasting your money... Do it yourself.. and call the company's up and ask to settle or payment plan.. No it should not affect your credit. They are there to help better your credit and get you out of debt. They are a good source if you can not seem to get out of debt on your own, or under a self made budget. I don't believe it affects your credit in a bad way at all, but I know a family that had to do it and if you decide to go for it they do put you on a very strick budget. My friend couldn't even take her kids to get happy meals without the credit counselor's permission so just be casreful who you choose. they basically help you improve your credit. but you must be disciplined & stick to the arrangement in order for it to be effective. they basically negotiate with your creditors & ladder your payments. |
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