How does credit counseling affect credit score?

How does credit counseling affect credit score?

5 Answers

There's a few websites out there that offer free help: www.creditinfocenter.com are 2 off the top of my head... They break this down pretty deep. I think it does because the balance isn't paid off, and techincially it's still late...


Check out this page, I hope you will get your answer:
http://www.experian.com/ask-experian/20080625-the-impact-of-credit-couns...


There's no way to tell exactly how much it will drop but, if you're not paying your accounts as agreed, your score is going to go down.  If you're enrolling in a DMP, they're going to tell you to stop paying your creditors and deposit money into a settlement account,  They will then negotiation settlements for you out of that account so, you'll not be paying per the terms of your credit card agreement, hence not paying as agreed.

How to Deal with Unlicensed/Illegal Payday Lenders - Step by Step Instructions

I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.

But I have heard that it does not affect credit score negatively. Am I wrong? Can you tell me by how many points my credit score will drop?


It will tank it.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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