Comments on: Can a credit counseling service help me with credit card debt or hurt me?

By: James H

James H — Sun, 16 Nov 2008 20:12:30 +0000

Have a look here.

By: Kim221

Kim221 — Thu, 13 Nov 2008 17:00:05 +0000

Actually, debt management plans are considered derogatory to some degree. Because of the way the scoring system works initial repayments will decrease your credit rating. Many lenders use your credit score as part of the decision making process. So it depends on if you are going to be needing credit in the near future, meaning next 6-12 months. For more details about other options or just to get a more in-depth explanation, e-mail I have worked with a credit restoration company, so I have learned how the system works.

By: just asking

just asking — Thu, 13 Nov 2008 12:38:20 +0000

You can consolidate your three credit cards in one low APR payment. There should be credit company that will do that for you.

By: OhGreatWiseOneinHipWaders

OhGreatWiseOneinHipWaders — Tue, 11 Nov 2008 11:55:51 +0000

“Consumer Credit Counseling Service” is a legit non-profit one. Check with your local Better Business Bureau for reports on any before you sign up with them. Be very careful, the IRS has just filed against many of the false ones. If you can do it on your own, tight budgeting, self discipline and maybe even selling unnecessary stuff and getting another job to supplement payments can be of more help. If you lack high level of discipline on you own, the CCCS is the way to go. It will not be fun, but it will help you work toward improving your situation.

By: hsgcoun

hsgcoun — Mon, 10 Nov 2008 02:08:52 +0000

Your credit started being negatively affected the month your balance was more than half your limit on your cards. As your balances got higher and your available credit was lower your credit began to get worse. To not see your credit score totally tank you will need to pay enough on all three accounts to bring the balances to less than 50% of your limits. If you are not able to do that ruining your credit will be the least of your problems. Your credit card companies are probrobly charging you late and over limit fees as well as interest every month and so what ever the payment you’re making, it’s probrobly not enough. Ask your creditors which debt repayment program they work with and they will give you a referral to a legit counseling agency. Also make sure that agency is licensed as a budget planner if your state requires it like NY. Most of these agencies have set policies already established with lenders to do things like take a reduced payment, reduce or stop interest and fees so you can realistically pay off the debts. Your credit will recover it will just take time. Good luck

By: monica

monica — Fri, 07 Nov 2008 05:18:54 +0000

It will put a little blemish on your credit but it will not affect buying a car or house. If you decide later to have another credit card, the creditors just won’t give you as high of a credit line. I recommend trying that instead of filing bankruptcy. Credit counseling will go on your credit report under being manages by cccs and will fall off after 7 years. I have seen bankruptcy on peoples credit report that was 3 times as old.

By: boobear911

boobear911 — Mon, 03 Nov 2008 19:22:36 +0000

it’s not worth it !! they will ruin your credit & get you in more debt. contact the companies directly and work a payment plan out with them.

By: Mr. Curious

Mr. Curious — Fri, 31 Oct 2008 21:40:28 +0000

Be careful with so-called credit repair businesses. Many are a rip-off and charge you to virtually nothing. You can do better contacting the credit card company yourself and work out payment terms.