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Posted by ethelene 2 years ago In:

ethelene
ethelene Asked:

Is consumer credit counciling a good idea if you are not behind on payments but are over whelmed with credit card debt?

Is  consumer credit  counciling a good idea if you are not  behind on payments  but are over whelmed with credit card debt?

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Adria John
Adria John Answered:

It would really depend on how bad your debt is. It may be the right thing for you but I don't usually recommend Consumer Credit Counseling Service unless someone is deeply in debt. It usually ruins your credit.

The problem with this service is that many of your creditors, even though they agree to accept a lower payment, still report you as late to the credit reporting agencies because you are not making the full minimum payment. If they report you late, your credit report may show 30, 60, 90+ day lates, essentially ruining your credit.

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