PostHeaderIcon How does it affect your credit rating if you go to one of those debt consolidation companies?


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2 Responses to “How does it affect your credit rating if you go to one of those debt consolidation companies?”

  • Jeri says:

    Been there done that! The debt consolidation company charged me $400 to give ME a consolidation of my bills, a file on how to cut back and spend wisely and supposedly free counseling and lower interest rates if we ever moved into a new home or were to buy a new vehicle. Well it was all a bunch of crap. They took our $400 and “couldn’t help with that” or I’m sorry, we never told you that. What was the name of the gentleman that called you?” If you are able to get your credit scores up w/out contacting people like them, do so and it will save you a pretty penny in the long run.
    What they put together for me is extremely simple. You just have to sit down and figure out where all of your $$ is going and how to save. Good Luck

  • jenny r says:

    It shows on your rating, but if you make payments on time after consolidating, you will be slowly building your credit score back. A few articles that could help are:

    Debt Consolidation – Get Out Of Debt
    http://www.askaquery.com/Answers/qn1643.html

    How to Hire a Debt Counselor?
    http://www.askaquery.com/Answers/qn1584.html

    What is Debt Relief?
    http://www.askaquery.com/Answers/qn1583.html

    Debt Management and Building Wealth
    http://www.askaquery.com/Answers/qn1581

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