Is credit counseling THAT bad? Doesn't it get erased from your credit report once you complete

I%26#039;m currently in credit counseling but I%26#039;ve read stuff from people that says it%26#039;s almost just as bad as bankruptcy? Is this true? I am aware of my credit score and doesn%26#039;t seem to be that bad. I am currently in the %26quot;Fair%26quot; credit category. Don%26#039;t people in bankruptcy usually have much worse credit scores?

Is credit counseling THAT bad? Doesn%26#039;t it get erased from your credit report once you complete the program?

If it involves debt consolidation it%26#039;s just as bad. What they do is put all of your debts into default, ON PURPOSE. Then they make deals with each creditor and you%26#039;re listed as a deadbeat. That%26#039;s what happens. It%26#039;s sick.

You can do what counselors and consolidators do. What are some general numbers/totals you%26#039;re working with?

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Is credit counseling THAT bad? Doesn%26#039;t it get erased from your credit report once you complete the program?

It is a lot less bad than bankruptcy.

Is credit counseling THAT bad? Doesn%26#039;t it get erased from your credit report once you complete the program?

Bankruptcy is the worst. And no it doesn%26#039;t get removed from your credit report.

Is credit counseling THAT bad? Doesn%26#039;t it get erased from your credit report once you complete the program?

While in a debt management program, your credit score might be just as bad as bankruptcy. However, when you complete the program, the stigma goes away unlike bankruptcy.

Some debt management programs negotiate by not paying creditors for 3 or 4 months then threaten bankruptcy if they don%26#039;t agree to lower interest or settling for less than the balance. Those are the things that hurt your credit the worst.

Is credit counseling THAT bad? Doesn%26#039;t it get erased from your credit report once you complete the program?

As far as I%26#039;m concerned, they%26#039;re equally bad. Re-establishing credit after a bankruptcy however, is actually easier than with credit counseling. Unfortunately, either way, new credit card offers will be with %26quot;strings attached.%26quot; That is, very high interest rates and large yearly fees.

Is credit counseling THAT bad? Doesn%26#039;t it get erased from your credit report once you complete the program?

It does put a mark on your credit but nothing is worse than bankruptcy. The most important thing is making a committment to get your debts paid and if you need to do through credit counseling, go for it.

Is credit counseling THAT bad? Doesn%26#039;t it get erased from your credit report once you complete the program?

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