03-10-2007 06:56 AM
03-10-2007 10:16 AM
03-11-2007 09:28 AM
03-11-2007 10:53 AM
05-27-2007 02:52 PM - edited 05-27-2007 03:00 PM
I signed up with a Credit Counseling agency a little over a year ago because I had two credit cards at or around 23%. With the agency I choose, the rates were dropped to 9.9%. This really helped however, as indicated, the accounts were closed and my credit report reflects "managed by a credit counseling agency". I didn't think much about this until I decided to look for a new mortgage for a new house. One mortgage company increased my proposed rate drastically due to "two trade lines being managed by a credit agency."
The fact I signed up for this to better manage my debt was no argument or defense. They also said they want to see me out of this program by at least two years, so dropping the agency would add no value. I killed the house deal and decided to continue to pay off the debt. We'll see about the two years.
05-27-2007 11:51 PM
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.