Comments on: Have you ever used a credit card counseling service/debt management service and what was your experience?

By: jodylavallee

jodylavallee — Mon, 03 May 2010 14:31:59 +0000

BE VERY CAREFUL—-If you can salvage your credit on your own you are way better off..

SARGE 927— debt counsellors cannot repair your crdit the only ones who can fix your credit are the original creditors listed on the credit bureaus!!!!! They are the only ones that can remove derogatory accounts not credit counsellor, and you can report payments to the credit bureau yourself.

THIS WILL RUIN YOUR CREDIT FOR 10 YEARS!!!!!!!

Need more info than u provide by far 2 answer thhis better…
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By: starfishltd

starfishltd — Mon, 03 May 2010 14:04:59 +0000

Never had experience with any but you might try daveramsey.com. His plan works the same way but you do the work yourself. That may be a hassle but you teach yourself to manage money. Also, Dave's plan doesn't go on your credit like Counseling services do which, as I understand it, is about the same as bankruptcy.
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By: sarge927

sarge927 — Mon, 03 May 2010 13:48:59 +0000

Yup. About 15 years ago my wife and I went through Consumer Credit Counseling Service of Ventura County, California after my wife was laid off of work. They worked with our creditors and got our monthly payments reduced significantly (went from almost $500.00 a month to $225.00 a month). They also got our interest rates knocked down with some of our creditors. They charged us $10.00 a month for their services and we had to pay them via money order by the 15th of each month. There were two catches: (1) We couldn’t buy anything else on credit — including a car — while they were helping us out, and (2) If we missed a payment our creditors could demand payment in full IMMEDIATELY. The good news is we made it through after a little over 2 years, and they worked with the credit bureaus when we got done to repair our credit rating. So our experience was GREAT!!! Be warned, though: There are a lot of scam artists out there that say they can help you but are just looking for gullible people. Here’s a quick clue: If they ask you for any money up-front, it’s a scam — they’ll take your money and you’ll never hear from them again.
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By: rb5sigirl

rb5sigirl — Mon, 03 May 2010 12:58:59 +0000

Yes. Consumer Budget Counselors. They helped me greatly. It goes on your credit record I believe for 10 years. My experience with them was good.
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By: Ask M

Ask M — Mon, 03 May 2010 12:51:59 +0000

it was bad, I was laid off from work and was within 6 months
of being debt free. Somehow the Counseling Service
REVOKED eight months worth of bills and closed my Account when I told them I was laid off. I had to claim
bankrupcy. Will never do that again unless they are
in my town and I can knock on their door.

http://www.creditinfocenter.com
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