debt management program: helpful??

[Anonymous]

Hi! I am considering a debt management program affiliated with the NFCC. I have maxed out my credit due to very poor spending/lack of savings and have a relatively significant amount to repay (18k).

If anyone has some advice to share on this type of program, I would appreciate it.

I've done some homework and researched fees/timing of payments to creditors, etc.

Specifically, does anyone know whether there would be long term damage to my credit score in doing one of these programs? It is NOT set settlement. However, the cards will be closed, and the balances equal the CL. Embarrassing, but it is what it is. I look forward to advice!

[Burned2manybridgesB4]

Each account is going to hurt like a CO with a balance, showing lates, and payment activity...there until it's settled, and is excluded from your reports, per CRTP.

Don't have a specific one to advise, but just make sure they're legitimate.