Credit report shows as slow pay
Date: Tue, 09/09/2008 - 15:16
I spoke with someone at a debt consolidation company that said that as long as I was a part of their program that my credit report will show as "slow pay." Is this normal?
Many times a notation of "In debt management Plan" or words to t
Many times a notation of "In debt management Plan" or words to that effect will be added to your credit reports. This will casue a drop in scores which should be expected. If you complete the plan, you may have some late pays listed on your tradelines. The impact will lessen after 2 years as long as you keep paying on-time moving forward.
