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Regular Contributor
donkort
Posts: 213
Registered: ‎07-26-2009
0

Debt Management Plan

Hi Everybody,

 

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.

Moderator Emeritus
fused
Posts: 16,373
Registered: ‎03-12-2007
0

Re: Debt Management Plan

I'm locking this thread and directing others to your duplicate thread here

Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1


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