Debt management plans affect your credit ?

[debtadvisoryonline]

Hello All Member,

Debt management plans affect your credit ?

Using a debt-management plan to pay off debt won't hurt your credit score, but it may make it difficult to qualify for new credit.

Please share your suggestion here ....

[SSandecki]

Most debt management\consolidation programs really just screw you over and you end up paying more in the long run. The FTC has a GREAT article that you should read to learn more about what I'm talking about and how to "properly" fix your credit.

Credit Repair: How to Help Yourself (FTC Goverment Website)

[expertcredit09]

Using debt-management to help you pay off debt will not negatively affect your credit score. But it might make it a little harder to qualify for new credit. Usually, a comment is added to your credit report that you are using an agency to help you pay off your account. This will remain until your account is paid in full.

Credit counseling information is ignored with it comes to your credit score. After all, you are continuing to pay your bills on time. But the comment might hurt you a bit.

[expertcredit09]

Using debt-management to help you pay off debt will not negatively affect your credit score. But it might make it a little harder to qualify for new credit. Usually, a comment is added to your credit report that you are using an agency to help you pay off your account. This will remain until your account is paid in full.

Credit counseling information is ignored with it comes to your credit score. After all, you are continuing to pay your bills on time. But the comment might hurt you a bit.

You may have heard that signing up for a debt-management plan can help you and hurt you at the same time. Your credit may not be as damaged by a debt-
management plan as you might think.