Saturday, August 13, 2011

What is Credit Counseling? Learn about Debt ... - Faith and Finance

Do you understand how credit counseling is different from other debt relief options? Mike Sullivan, Director of Education at Take Charge America, discusses the topic of credit counseling. Topics include how it works, what you should look for in a credit counseling company, and how to get started. There are many debt relief options, debt management works for some consumers, not all consumers. Find out if it will work for you.
Video Rating: 5 / 5

Question by dwaindaddy: How will credit counseling services affect my credit rating?
I am thinking about allowing a credit counseling service (Take Charge America) to consolidate all my unsecured credit. Will this help or hurt my credit rating once I complete the program in about 3.5 years?

Best answer:

Answer by Richie Rich
From experiences I have heard, most of the people I talked with hated it. Payments kept being late and creditors kept calling.

In the end, their credit was worse off than before, just without the debt.

Your millage will vary.

Know better? Leave your own answer in the comments!

Source: http://cordei.com/2011/08/12/what-is-credit-counseling-learn-about-debt-relief-options-take-charge-america-inc-how-will-credit-counseling-services-affect-my-credit-rating/

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