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Will it affect my credit score if I take help from a credit counseling agency?

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I am facing some problem with managing my finances. I am thinking of taking credit counseling help. But, will it affect my credit report and score?

It will most definately tank your score if you use their service.

Sub: #1 posted on Fri, 08/19/2016 - 06:09

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(Posts: 17214 | Credits: 4746.7)

On either front, you'll lose your credit. Delinquency can cause embarrassment and collection hassles, and if your creditor wins a judgment against you, then you may lose a part of your retirement benefits like Social Security.

A drop of 90-110 points on a 780 FICO Score against 30-day delinquency with no past record of missed payment, Equifax said. Whereas, after debt settlement there will be a drop of 140 and 160 points on FICO of 780 against the same 30-day delinquency with no past record of missed payment.

Now, the ball is in your court!

Sub: #2 posted on Mon, 08/22/2016 - 12:21

paulcahill80 paulcahill80

(Posts: 2359 | Credits: 258.2)

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