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if i go with debt consolidation program will it effect my credit score.

I think almost anything affects credit scores ... sometimes paying something off can lower your score (which makes no sense to me!)

Sub: #1 posted on Wed, 07/23/2008 - 00:14

smo65d11 smo65d11

(Posts: 1468 | Credits: 133.12)

Fair Isaac Corporation, the company that pioneered the use of credit scores, states that participation in a debt management Plan has no effect on a consumer's FICO credit score. However, the participation in such a plan does appear on consumer credit reports, and the client may have more difficulty obtaining a car or home loan and be denied any further unsecured credit, such as a credit card. However once you complete the program it comes off your report as if you were never in the program.

Sub: #2 posted on Wed, 07/23/2008 - 00:23

mobile0311 mobile0311
(Posts: 1817 | Credits: 104.57)

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