Debt Management Service

[PayYouNever]

Does being on one of these affect your score? It doesn't say on my Report that I'm on one, but I'm assuming that Chase and Capital One are reporting the information in some manner that could afflict my score, right?

[fused]

 

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PayYouNever wrote:
Does being on one of these affect your score? It doesn't say on my Report that I'm on one, but I'm assuming that Chase and Capital One are reporting the information in some manner that could afflict my score, right?

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This has no effect on your FICO scores. If fact, even if your accounts were notated as being paid by a debt management/counseling service this too has no effect on your scores. Be careful though, if this service pays anything late it will hurt you and not the management service.

[Tuscani]

• Credit Education
• Credit Scores
• What is Not In Your Score

What is Not In Your Score

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FICO® scores consider a wide range of information on your credit report. However, they do not consider:

• Your race, color, religion, national origin, sex and marital status.
  US law prohibits credit scoring from considering these facts, as well as any receipt of public assistance, or the exercise of any consumer right under the Consumer Credit Protection Act.
• Your age.
  Other types of scores may consider your age, but FICO scores don't.
• Your salary, occupation, title, employer, date employed or employment history.
  Lenders may consider this information, however, as may other types of scores.
• Where you live.
• Any interest rate being charged on a particular credit card or other account.
• Any items reported as child/family support obligations or rental agreements.
• Certain types of inquiries (requests for your credit report).
  The score does not count “consumer-initiated” inquiries – requests you have made for your credit report, in order to check it. It also does not count “promotional inquiries” – requests made by lenders in order to make you a “pre-approved” credit offer – or “administrative inquiries” – requests made by lenders to review your account with them. Requests that are marked as coming from employers are not counted either.
• Any information not found in your credit report.
• Any information that is not proven to be predictive of future credit performance.
• Whether or not you are participating in a credit counseling of any kind.

[fused]

Tusc:

You one upped me!

[sl]

I am in a DMP and the only one that shows on my CB is AMEX (is not included in my score), however, I cannot get a loan until it is off my CB. So keeping my fingers crossed, it will be off this month. I have disputed it with all CR but AMEX is slow to respond.