Credit Counseling

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I recently joined a credit counseling service because I am a college student that got way in over my head with credit cards. I was painted into a corner and had nowhere else to turn- so first and foremost I do not regret doing it. When my dad found out, though, he went ballistic. He said I basically had just filed for "partial bankruptcy" and it would kill my credit score. I've read other accounts that say that credit counseling shouldn't hurt your credit. I really want a definitive answer on this. Does it hurt your credit or not? And if so, how badly?

Best Answer

It does not affect your credit to use a credit counseling service. Go to myfico.com and read "what's not in my credit score" And it will clearly state that doing credit counseling does not effect your credit score. here is the link. http://www.myfico.com/CreditEducation/ WhatsNotInYourScore.aspx

I need help!! my debts seem to keep piling up more and more each month... i have heard about credit councelors and i wanna know if that is a wise choice to make.. or can anyone help me with some advice plzz :)

Best Answer

You need to sit down and go through everything that you usually buy. for everything you can go without, cut down on spending money on it and use that money to pay your bills. If you have credit cards you can call the company and set up a payment plan that fits your needs/income. They are usually very helpful when someone shows that they actually want to pay. You will have to make serious sacrifices and commitments if you really want to fix your debt. good luck to you! :)

Have any of you ever used credit counseling services from any company? Who were they and did it help? I'm just trying to make a selection, but don't even have an idea of where to look. Thanks!

Best Answer

I recently joined a credit counseling service because I am a college student that got way in over my head with credit cards. I was painted into a corner and had nowhere else to turn- so first and foremost I do not regret doing it. When my dad found out, though, he went ballistic. He said I basically had just filed for "partial bankruptcy" and it would kill my credit score. I've read other accounts that say that credit counseling shouldn't hurt your credit. I really want a definitive answer on this. Does it hurt your credit or not? And if so, how badly?

Best Answer

It does not affect your credit to use a credit counseling service. Go to myfico.com and read "what's not in my credit score" And it will clearly state that doing credit counseling does not effect your credit score. here is the link. http://www.myfico.com/CreditEducation/ WhatsNotInYourScore.aspx

I need help!! my debts seem to keep piling up more and more each month... i have heard about credit councelors and i wanna know if that is a wise choice to make.. or can anyone help me with some advice plzz :)

Best Answer

You need to sit down and go through everything that you usually buy. for everything you can go without, cut down on spending money on it and use that money to pay your bills. If you have credit cards you can call the company and set up a payment plan that fits your needs/income. They are usually very helpful when someone shows that they actually want to pay. You will have to make serious sacrifices and commitments if you really want to fix your debt. good luck to you! :)