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.