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 Posted: Sat May 03, 2008 4:27 am |
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I need to find a legitimate debt consolidation company that will not hurt my credit. Please refer.
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kristenburnskjb
Joined: 03 May 2008
Posts: 1
Debtcc Points: 16
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| Posted: Sat May 03, 2008 6:03 am |
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welcome to the forum kristen,what kind of debt
are we talking about?how much total?if you could answer those questions we can help you here.
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paulmergel
Debt Samaritan
Joined: 24 Jun 2007
Posts: 1741
Debtcc Points: 7390
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| Posted: Sat May 03, 2008 7:29 pm |
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DOES Debt Consolidation actually HURT your credit? What about Settlement companies?
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sdchargers_63
Joined: 08 Aug 2007
Posts: 865
Debtcc Points: 9573
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| Posted: Sat May 03, 2008 7:32 pm |
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Anytime you settle a debt and it gets reported to your credit report as settled it hurts your credit.
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FYI
Moderator
Joined: 18 May 2006
Posts: 1724
Debtcc Points: 16372
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| Posted: Sat May 03, 2008 7:52 pm |
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And credit counseling usually triggers the closing of all accounts in the program, as well as the denial of new credit (until you complete counseling).
_________________
The only people with whom you should try to get even are those who have helped you.
-John E. Southard
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Morningstar
Moderator
Joined: 06 Feb 2007
Posts: 1642
Debtcc Points: 16023
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| Posted: Sat May 03, 2008 8:32 pm |
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OMG!!! That's something I din't know about. I haven't gone through Consolidation/Settlement companies, but, i din't know it can damage your credit, even MORE than it is. I'm slowly, but, surely, paying debts off. Not applying for new credit anytime soon!! LOL
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sdchargers_63
Joined: 08 Aug 2007
Posts: 865
Debtcc Points: 9573
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