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Credit Counseling Service

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Anonymous
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Credit Counseling Service

The only bad item on my report is a Credit Card showing that it is being managed by a credit counseling service. I have since stopped using this service and my credit card has taken this off my status. Should I expect a big jump in my credit score(s) when this is reported to the Credit Gods? Was hoping that my credit score might increase. Anyone have experience in this?
Message 1 of 7
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Moderator Emeritus

Re: Credit Counseling Service



jnelliott wrote:
The only bad item on my report is a Credit Card showing that it is being managed by a credit counseling service. I have since stopped using this service and my credit card has taken this off my status. Should I expect a big jump in my credit score(s) when this is reported to the Credit Gods? Was hoping that my credit score might increase. Anyone have experience in this?


Accounts being reported as in credit counseling or a debt management program have no affect whatsoever on your FICO scores, so there should be no change to your scores. What is the status of this account? Is it a charge-off? Are you paying the original creditor? Is there a balance remaining?
Message 2 of 7
Anonymous
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Re: Credit Counseling Service

there is a balance of 2k on the credit card. Also the staus is current on the account, No Charge off.
Message 3 of 7
Anonymous
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Re: Credit Counseling Service

It is also the original creditor
Message 4 of 7
fused
Moderator Emeritus

Re: Credit Counseling Service

Do you have any late payments reported on this account? If so, when and how severe...30, 60, 90, 120 days late?
Message 5 of 7
Anonymous
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Re: Credit Counseling Service

I had 90 day late payments on this account 2 years ago,
Message 6 of 7
fused
Moderator Emeritus

Re: Credit Counseling Service

This 90 day late is considered to be a serious delinquency in FICO scoring and it can be just as damaging as a charge-off, a collection or a public record. Your goal should be deletion of this 90 day late from your credit reports. I recommend a GW letter. Sometimes they work and sometimes they don't. Keep writing them though. Here's a link to guide you.
 
 
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