Advise
Date: Sat, 08/14/2010 - 13:38
I am concerned as to how a debt management consolidation would affect my credit rating. And, if in fact, it will hurt my rating how long before I recover. My middle score with the 3 agencies is 718. I am unemployed and I am unable to get new credit due to income to debt ratio. I am 65 and I have credit card debt of approx. $27,000.00. I have been able to maintain the payments by digging into an annuity which will end soon and is all I have. I lost a very large sum of money in the spring of 2008. Seems pretty hopeless but the answer is out there somewhere. What you suggest?
Debt management will tank your scores severely because you are n
Debt management will tank your scores severely because you are not paying as agreed. Depending on how long you are in the program for, it could be several years before your credit recovers. In some ways, you might be better looking at bankruptcy.
Debt management program hasn't hurt anyone's score since 1999-20
Debt management program hasn't hurt anyone's score since 1999-2000. I have a friend who works in FICO and he just confirmed me this. But it can make it difficult for you to get a new credit card. Jst remembr...CREDIT COUNSELING PROGRAM HAS NO IMPACT WHATSOEVER ON YOUR CREDIT SCORE
sorry, but debt management WILL most certainly tank your score.
sorry, but debt management WILL most certainly tank your score.