CC maxed out.........where do I begin?

Yes , it does stay on your report UNTIL you complete the program. Once you complete the program it comes off your report as if you were never in the program. Honestly who cares anyways, all that does is prevent creditors from issuing you more cards while in a credit counseling program which is a good thing. Trust me its still worth it.If you can afford the paymenet for a dmp with a credit counseling company you should. It will not hurt your credit score and thus will keep your credit in good standing. Hope this helps :D

credit counseling can be a great idea only if you choose the right kind of company. Mind that there is no dearth of consultancies in this field, but not all them are worth doing business with. Hence, doing some background research is very important.

As mobile has said, it'll appear on your report, but it won't really harm you as along as it eliminates your debt. You can always rebuild your score with some discipline.

I agree with the last two replies. Yes, It does affect your credit rating, but then your credit heals itself when you complete the program. If any company tells you differently, run.

If your priority is your credit, maybe get a second job to help pay off your bills faster, otherwise, change your priorities to paying off your debt. This will help your credit in the long run anyways. Chances are your credit is already affected if you are maxxed out and your interest is extremely high.

And with getting out of debt a priority, you have options...
1. Debt Settlement-
negative: fee involved 12-18% of total balance, affects credit report temporarily and then heals itself as creditors are satisfied, be sure to go with legitimate company where you can track your savings and where it goes.

Positives: Cut your monthly payments usually by 50%, Save approx. 40-70% overall including fees, get out of debt in as little as 12 months to 48 months, creditor harrassment ceases in most cases.

2. Consumer Credit Counseling-
negative: Very harsh blow on credit, takes 5-7 years, still pay interest, small payment reduction

positive:Get out of debt sooner than the route you are currently on and creditors harrassment ceases in most cases, fees absorbed by credit card companies and passed on to you through interest.

Hope this helps...

Kindest Regards,

Sandra

i think debt settlement is aa good option for u...

With the settlement, I have read on another forum that some of the people have had judgments against them and had to go to court for the settlements.

Is this the norm? I don't want that to happen.

TIA.

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