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Yes. Debt Management/Credit Counseling (CCC) companies that simply advise you on financial or credit matters will not affect your credit, but if the company works directly with your creditors to manage payments, settlements, or other aspects of your accounts, it will probably affect your credit.
A typical sales line from one of these companies would be "using our services will not affect your credit score". While this may technically be true, most creditors will report the debt as "managed by a consumer credit counseling agency". While this may not impact your score as it does not indicate a late payment or derogatory account performance, it will probably affect you when applying for credit.
Many lenders put CCC debt management in the same category as bankruptcy. This typically means no credit will be granted to an application in a CCC program and there must generally be some seasoning (time elapsed) since the program has ceased, anywhere from 6 months to 2 years.
Also keep in mind that any action that occurs on the account is still your responsibility. So if the CCC fails to make a payment or negotiates a settlement it will affect your credit.
What else can I help you with?
What are some helpful credit card debt management services?
There are many credit card debt management services available. Some of the following have an A plus rating with the Better Business Bureau: Consolidated Credit Services and Step Change Credit Services.
What services does Capital Business Credit offer it clients?
Capital Business Credit offers a variety of services. Some of these services are factoring, or accounts receivable financing, provides companies with advances and credit guarantees through the sale of their receivables.
What services does Mandtbank offer the clients who utilize the bank?
Mandtbank offer clients who utilize the bank a variety of services including Web banking, Mortgages, Loans, Credit-cards, and Pensions. They also have extensive business services, including Checking, Online Payroll, Insurance, Investments, Loans & Lines of Credit, Merchant Services, Mobile Deposit for Business.
Where can one go to find MBNA credit card services?
MBNA offers credit cards as well as financial services to their clients. On the MBNA website there is a listing of credit cards offered as well as a detailed description of each and its benefits.
Are debt management programs going to affect credit score?
Using a debt management program will not affect one's credit score. It does make getting credit harder to obtain. Checks are written to a middle agent that passes payment to the final party.
What are some helpful credit card debt management services?
There are many credit card debt management services available. Some of the following have an A plus rating with the Better Business Bureau: Consolidated Credit Services and Step Change Credit Services.
What kinds of services does Transcom provide?
Transcom provides credit management services. They are a group of global customer experience specialists that provide support to credit management services.
Does Wells Fargo offer credit management services?
Wells Fargo does offer credit management services in certain locations. It is important to check with your local branch first.
What services does CapitalOne offer to business clients?
Capital One provides various financial services for businesses. These include credit cards, savings accounts, 410(k) plans, as well as general commercial banking and treasury management.
What type of businesses use or employ credit risk management services?
Most any business uses credit risk management services to determine the character of potential employees. Employees with a poor credit history are not hired. The original use of credit risk management services is to determine the risk in loaning money to a person or organization. Therefore banks, credit card companies, mortgage companies, auto finance companies, and cell phone companies use credit risk management services.
What services are provided by Consolidated Credit Counseling Services Inc?
The CCCS of Greater Dallas offers a wide variety of help and counseling for financiers in rough situations, such as bankruptcy and debt holes. The services offered includes financial counseling, bankruptcy services, credit report reviews, debt management plans, housing counseling, and more.
What services does Capital Business Credit offer it clients?
Capital Business Credit offers a variety of services. Some of these services are factoring, or accounts receivable financing, provides companies with advances and credit guarantees through the sale of their receivables.
Credit management of Iowa inc?
consumer credit counseling and social secuity payee services.
What types of services are offered by Christian Credit Counselors?
There are many types of services that are offered by Christian Credit Counselors. Examples of the types of services that are offered by Christian Credit Counselors includes debt management services and financial advice services.
What services does Mandtbank offer the clients who utilize the bank?
Mandtbank offer clients who utilize the bank a variety of services including Web banking, Mortgages, Loans, Credit-cards, and Pensions. They also have extensive business services, including Checking, Online Payroll, Insurance, Investments, Loans & Lines of Credit, Merchant Services, Mobile Deposit for Business.
What company or individual offers debt management services in the Baltimore area?
American Consumer Credit Counseling provides credit counseling, debt management, debt consolidation and financial education services to consumers nationwide.
What are some allied international credit?
Allied International Credit collect from both consumers and businesses on behalf of clients and provide services in a manner that preserves the reputation and goodwill of both clients, and the consumer or company from which collecting.
