Average time for consumer credit

[quote=Anonymous]I am seriously thinking of entering into a credit counseling service to help resolve my debt. We have a well respected and highly referred (by mortgage brokers) CCCS office in our area.

On the average, after enrolling and beginning the program, does it take to increase credit scores?[/quote]

i wonder why the site tells me i am logged in but assigned 'guest' for the user id?

Hi rlg07734

Welcome to the forums. debt consolidation program facilitates the consumers to pay their debts in easy monthly installments and enrollment in such program makes the process faster and much secure.

Debt consolidation program puts your credit report in good shape and helps in restoring your credit worthiness.

All your multiple bills are consolidated into one loan amount and at lower rate of interest. Since you have taken this responsibility to pay off your past debt, your involvement in the debt consolidation program will appear in your credit report and it is viewed more favorably than before. You are required to stay current in all your payments for seeing better results.

As said that you have taken the responsibility to pay off your past debt, the creditors appreciate your involvement in the program and thus are willing to reduce the amount of interest from your total debt.

Your credit report is the most prestigious financial document and every step should be taken to keep it clean. Debt consolidation program has been the most successful and popular method to erase all the past debts and thus repair the damaged credit report.

http://www.debtconsolidationcare.com/benefits.html

The trained consultant will proficiently deal with all your creditors and enable you to live peacefully. His counseling and budgeting programs will be helpful to you in all your times of need and enable you to come to a debt free world.

Apart from completing payments towards your past debts, there are some other factors which improve your credit scores:

Please use the following tips to improve your credit score.

Check for incorrect entries - It is mandatory to check your credit report for any mistakes from all the three credit reporting agencies. You can review your report for at least once in a year as well as several months before you apply for a loan.

Timely payments It will be considered a very good practice if you always pay your bills on time. Your prompt payments will put you in a much comfortable position before you apply for a loan. This point is emphasized because a late or missed payment just before applying for a loan lowers the credit score and has worse impact than a missed payment five years ago.

Bring credit balance to the minimum - It is always beneficial to reduce the credit card balances as much as possible. The FICO scores get affected due to how much money you owe on some cards relative to your total credit limit. Credit scores are seen improving if the balances are kept below 25% of the credit card limit.

Don't linger your payments It is suggested not to increase the ratio by closing an account and transferring the remaining balance to another account since the ratio of the credit card balance is linked to the credit limit. Doing this will lower the credit score which should not be generally done while you are on your way to increase your credit score.

Unused accounts to be kept active - While you are applying for a loan, it is suggested not to close any unused account. At the same time, it is suggested not to open a new account also during that time. It is said because if you are having a short credit history or less number of accounts, the credit score gets lowered when a new account is opened as there is no proven track record of it.

Quote:

[quote=rlg07734][quote=Anonymous]I am seriously thinking of entering into a credit counseling service to help resolve my debt. We have a well respected and highly referred (by mortgage brokers) CCCS office in our area.

On the average, after enrolling and beginning the program, does it take to increase credit scores?[/quote]

i wonder why the site tells me i am logged in but assigned 'guest' for the user id?[/quote]

Sometimes this happens when you delete the cookies on your computer. i think your user ID is retained by the cookies.

One way that I get around this is by logging into the forums and saving the page as a favorite so I wont have to constantly type in my user id.

[quote=Anonymous]I am seriously thinking of entering into a credit counseling service to help resolve my debt. We have a well respected and highly referred (by mortgage brokers) CCCS office in our area.



On the average, after enrolling and beginning the program, does it take to increase credit scores?[/quote]



Well, it is great that you have decided to take control in resolving your debt. In some time, you will see your efforts paid off by a resulting increased credit score.

Right now, your first priority should be to resolve your debt. That is the first issue that needs to be addressed before you will start to see noticeable increases in your credit score. I am not sure about the nature of the credit service that your are participating in. However, if it is a consolidation program, I think that it will help you make long strides in removing your debt. However, if it is a settlement program, I would caution you to be extremely careful. I have heard many stories of people giving money to settlement companies in an effort to pay off their debts. But the settlement companies fail to transfer those monies to the debts. So, I would caution you against settlement companies. However, if you decide to use one, you should do plenty of research before you give them one cent.

Now as for increasing your credit score, there are a few things that you can do to bring up your score by a few points. For instance, you should make it your top priority to stay current with all of your bills. No late payments and no missed payments. This sort of negative information will go on your credit report and will counterproductive to any efforts you make to try to increase your score.

Also, do not close unused accounts. The amount of your open accounts is used in a calculation to determine your credit. If you close these accounts, that would decrease your total credit availability and hurt the outcome of your calculation.