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Credit Counseling
Credit Counseling and your credit score
One of the most common questions posed to the credit counselors at Money Management International is how participating in a credit counseling or debt management plan affects a credit score. It is a common misperception that working with a credit counseling agency is viewed by lenders as being the same as if you file for bankruptcy. This is simply not the case.
According to Liz Pulliam Weston of MSN Money, the current FICO formula ignores any reference to credit counseling that may be in your file. That’s been true for the last three years, after researchers at Fair, Isaac, the company that created the FICO scoring system, noticed that people getting credit counseling didn’t default on their debts any more often than anyone else.
Talk to a credit counseling expert from Money Management International today
Over the past 46 years, Money Management International/CCCS has helped hundreds of thousands of people repay millions of dollars through credit counseling.
During your confidential appointment with a trained counselor, you will develop a strategy based on your unique circumstances. Your counselor may even be able to negotiate a repayment plan with your creditors to reduce interest rates and stop collection efforts. With our credit counseling and debt management plans, you make one consolidated monthly payment to Money Management International/CCCS that is disbursed to your creditors.
Please visit www.moneymanagement.org to learn more about our credit counseling expertise. |
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