0
Is it true that using a debt counselor will have a negative impact on your credit?
Wiki User
∙ 12y ago
No it does not have a negative impact on your credit as they are there to help you out to manage your debts and increase you credit. They just give an advice on planning your debts then it is upto you how you make it..
AnswerI went through consumer credit counciling,It was & is free in Mo. & that is the name. If you want there help it takes two You must do what they say including cutting all you credi cards up. you will not be able to get a loan with out their ok in advace.BUT the great news is after you get your debt paid off usealy at reduced rates.you then have an eduction that is worthits weight in gold. there is no obligation on your part , SO contact them there should be something like this in evry area of the country check the inter net . STAY AWAY FROM ANY ONE THAT WANTS TO CHARGE YOU MONEY. The above IS FREE AnswerUsing the services of a "debt counselor", consumer credit counseling, and debt consolidation programs absolutely have a negative impact on your credit. Such plans/programs are notated on your credit report even when the accounts included are paid as agreed. They indicate that you needed professional assistance to manage your debt. Credit assessment, rating and scores are all about RISK. Needing professional assistance indicates a significant amount of risk.Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What are the positive and negative impacts of the airplane?
A positive impact of airplanes is that we can ship goods from place to place, rather than using a boat or a truck. A negative impact on airplanes is the pollutants from their engines and the amount of wind they use.
What are some good ways for one to manage debt?
You can stop using credit cards, create a budget, lower your interest rate, build an emergency fund but the first thing you should do is consult a credit counselor as they are experts.
How does credit repair works?
Credit repair is the act of removing negative items from your credit report to improve your credit score. You can do this using the Fair Credit Reporting Act, which gives consumers the right to dispute anything on their credit reports they believe to be incorrect or erroneous. The process involves disputing your negative items to the credit bureaus. The credit bureaus then have 30 days to verify your listings with the original creditors or it must be removed. There are other aspects of credit repair involving reducing debt and inquiries, but removing negative items is the main part.
I have a pay-pal account that is negative 900.00 and they have turned me into collections. it is because of chargebacks. By not paying the negative balance will that effect my credit?
Hey, yes it will, when you signed up with paypal you agreed to terms and conditions which basically gave them the right to retrieve money owed to them using any means nessesary, which also gives them the right to report your to credit services which will have an impact on your credit rating, same thing happened to me but i just paid it off even though it was totally a scam and not my fault.
What impact can debt collectors have on my credit score?
Debt collectors have limits set on the time they can post on your credit report. Try using www.debtconsolidationcare.com/handle-collectors.html to get more information.
What does a voluntary repossession do to your credit?
Any repossession will negatively impact your credit. Organizations using the credit report do not differentiate between voluntary and non-voluntary. Rather, the organizations see that you were not responsible with credit and what you purchasd needed to be taken away. Generically, a repossession is considered the same as a chargeoff or writeoff, so the impact on the credit score may be anywhere from 50 to 200 points, depending on one's personal credit situation.
What are the negative impacts of robotics?
The main negative impact - is on employment. Many companies realised that by using robots to take over production - they can reduce their workforce - thus reducing operating costs.
When is a bankruptcy removed from your credit report?
Bankruptcy may remain on your credit report for up to ten years. However, what is probably more important to you is the impact that bankruptcy will have on your credit options. That depends heavily on how you handle your finances and credit accounts after bankruptcy. Many bankruptcy petitioners who manage their credit carefully and make an effort to rebuild credit are able to qualify for traditional mortgages and car loans within about two years.UPDATE: Actually, you can force Equifax, Experian and TransUnion to remove a Bankruptcy from your credit report and you can do it legally using a federal law that is in place. Credit Bureaus MUST have "verifiable proof" of the "bankruptcy" in their files if they are going to report the negative item on your report. The dirty little secret the credit bureaus don't want you to know is that they do not have any "verifiable proof" in their files for any of the negative items on your credit report. The Federal Court that the bankruptcy was filed in may have this information on file but the credit bureaus don't. If you request the credit bureau to provide you with the "verifiable proof" that they have in their files they will remove the negative from your file.
Do you receive credit every month with your credit card if you have spent your limit and payment is not yet due?
Yes and No. Yes, it important that you pay your credit cards on time. And the "No" is because if you spend to your limit it is not good for your credit score. Why and how is your credit score determined? Because 35% of your credit score is paying your credit cards on time and the other 25% is your debt to available credit ratio (for example, if your credit limit is $1,000 and you only have one credit and you spend $1,000 you are using 100% of your available credit which has a negative impact on your credit score) the credit agencies like to make sure that the ratio is less than 30% of your available credit which would be $300 or less per month on your credit card. The rest of the 40% of inquiries, length of credit history and other misc. things they look at.
Which human activity would have the least negative impact on the quality of their environment?
Using species-specific sex attractants to trap and kill insect pests
Which human activity. would have the least negative impact on the quality. of the environment?
Using species-specific sex attractants to trap and kill insect pests
What is Using words that have positive or negative connotation?
Using words that have positive connotations can help create a more favorable impression, while using words with negative connotations can evoke a sense of dislike or disapproval. It's important to consider the emotional impact of the words we choose in order to effectively communicate and connect with others.
