Consumer Credit Counseling

[Anonymous]

Hello All,

I am thinking about getting Consumer Credit Counseling but am afraid that it would affect my fico scores in a negative way because I have heard negative things about these companies.  What do you think?

Thanks

[Jontevius]

Well it depends on the type of consumer credit counseling, you should research it a bit more before going for it.

[Anonymous]

Thanks, never mind, I won't do it. 

Appreciate your time though.  This scares me and I have already been through a BK and I don't want anymore negatives or low credit scores.  

Eve

[Anonymous]

Eve - CCS is a great place to go sit down and discuss budgeting, planning and other financial issues. They wil do that - no charge. You aren't obligated to let them take over your payments...Just a thought

[Anonymous]

Good to know that.  I don't need them to take over my payments I just need to know how to budget with just my dh's checks and then my own checks that take 45 days to get.  I feel really overwhelmed right now and our scores are going up but I am not paying my car note or his on time and thank God the credit union and his car lender are understanding because if they ever reported our payments as late our scores would be 0 and I mean 0.  I am in the process of interviewing for some part time jobs so that I can rapidly pay down credit card debt and try to save something in the process. I just need some guidance because I feel like our hands are tied, I can't talk to dh about it, he gets physically sick and that leaves me to be stressed out and worried about how are we going to do this and that with what we have and the huge changes that are coming next month with our mortgage.  That was why I asked about the CCC.  I called and left a message and at least I know that I don't have to have that showing up on our credit.  Thanks Tex.

Eve

[ah32]

I would do everything possible to not sign up for the counseling.  Most likely they will report that you are seeking help which will lower your score.  I would imagine it's near the same as a delinquency as far as scoring goes.  Can you call and ask for a rate decrease on those cards you've been on time with?

[Anonymous]

I did try, but I had a late on them this year and they told me to try again in six months and to lower my utilization.

[Anonymous]

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myhearts07 wrote:

Good to know that.  I don't need them to take over my payments I just need to know how to budget with just my dh's checks and then my own checks that take 45 days to get.  I feel really overwhelmed right now and our scores are going up but I am not paying my car note or his on time and thank God the credit union and his car lender are understanding because if they ever reported our payments as late our scores would be 0 and I mean 0.  I am in the process of interviewing for some part time jobs so that I can rapidly pay down credit card debt and try to save something in the process. I just need some guidance because I feel like our hands are tied, I can't talk to dh about it, he gets physically sick and that leaves me to be stressed out and worried about how are we going to do this and that with what we have and the huge changes that are coming next month with our mortgage.  That was why I asked about the CCC.  I called and left a message and at least I know that I don't have to have that showing up on our credit.  Thanks Tex.

(((((((Hugs)))))))

I used a company a few years ago to negotiate with creditors and make payments for me.  I managed to pay a couple of debts off thru them but cancelled it after about a year.  I found out it completely screwed up my scores...I might as well have filed bk.  I'm so glad you've got a good relationship with your lenders and CU ~ allows you to breathe!  My DH is pretty good about talking thru this stuff with me but he gets frustrated when he can't grasp the concept and then I get frustrated when I can't explain it to him lol  Sometimes we just have to walk away from it for a few hours or a day then come back and try it again.

[Anonymous]

Thanks, Kims.  If I could look at him in the eyes without them welling up with tears, I would prob. be okay.  But he just can't take it and I am so fed up with credit.  We would not even be in this situation if Countrywide had not reported us late back in April when we really were not late and had actually paid more than the payment, so they just held it and didn't apply.  I didn't know about the forum and faxing over letters from creditors back then and that held us up for another 2 months before the correction was made to the bureaus and we suffered because of it.  This is too stressful trying to run a house, a business, clients and pay all the bills on time.  Pray for me because I am just ready to let this house go into foreclosure and say screw it all, it's just too much.  I am not sleeping or eating right and i have been down depression alley and it's not fun, I tell ya.  Sorry for carrying on so much, but I don't really have too many people to talk to but you guys...

[Anonymous]

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myhearts07 wrote:

Thanks, Kims.  If I could look at him in the eyes without them welling up with tears, I would prob. be okay.  But he just can't take it and I am so fed up with credit.  We would not even be in this situation if Countrywide had not reported us late back in April when we really were not late and had actually paid more than the payment, so they just held it and didn't apply.  I didn't know about the forum and faxing over letters from creditors back then and that held us up for another 2 months before the correction was made to the bureaus and we suffered because of it.  This is too stressful trying to run a house, a business, clients and pay all the bills on time.  Pray for me because I am just ready to let this house go into foreclosure and say screw it all, it's just too much.  I am not sleeping or eating right and i have been down depression alley and it's not fun, I tell ya.  Sorry for carrying on so much, but I don't really have too many people to talk to but you guys...

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You definitely have my prayers!!  And don't apologize...I've done more than my fair share of venting on here and the support is amazing!  We're pretty much all in the same boat..trying to stay afloat and find calmer waters and I think we'll make it.  I'm pretty stressed right now too so I can understand where you're coming from ~ I'm sorry your DH is so upset.  I know how it affects me when my DH is at the end of his rope.  Just take a deep breath and keep on moving forward...that's what I keep telling myself and sometimes it does help!