07-05-2011 03:27 PM
If I enroll in a Debt Management Plan, will my FICO score go down because I would have closed 3 major credit cards in good standing (i.e., no lates?) They are all in the upper 600's now (somehow--since all my cards are "maxed out.") I really don't want my scores to go down into the low 600's--as I'm thinking about "exploring new horizons" by obtaining an apartment and letting my wife keep the co-op we own.
I have $26,000 in credit card debt. I also have a mortgage. I have no 30 day lates, though I had one less-than-30-day-but-more-than-15-day late payment on my mortgage last year. I am fortunate that I have no lates. That's why I thinking about joining a plan.
Thank you for the feedback.
07-05-2011 04:24 PM
I'm locking this thread and directing others to your duplicate thread here
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO