Question by: n_darden
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Answer by jyd9999
a little of both
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Question by: marypoppins
or does it leave your credit report once you completed it? what's are the main differences between a debt managment program and bankrupstcy 13?
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Question by: Wenona P
I'm hoping to apply for a mortgage loan soon, how will this affect me.I'm in a program that will pay off my credit cards in less ...
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Question by: Jane S
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Answer by bdancer222While you are in the program, it will be almost like you filed bankruptcy. However, unlike bankruptcy, when you complete ...
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Question by: Lucianna C
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Answer by RICHARD WYou might want to call Trans Union and ask. This could show as "Transferred to recovery". Here is the site.........http://busycooks.about.com/od/candyandsnackmixes/r/chocolnuttoffee.htmGood ...
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Question by: Lucianna C
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Answer by RICHARD WYou might want to call Trans Union and ask. This could show as "Transferred to recovery". Here is the site.........http://busycooks.about.com/od/candyandsnackmixes/r/chocolnuttoffee.htmGood ...
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Question by: Lucianna C
Best Answer:
Answer by RICHARD WYou might want to call Trans Union and ask. This could show as "Transferred to recovery". Here is the site.........http://busycooks.about.com/od/candyandsnackmixes/r/chocolnuttoffee.htmGood ...
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Question by: christy d
that can help me?
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Answer by mediabuyer4lifeBoth my husband and I used American Debt Management to pay off each of our debts.I fully recommend.http://www.americandebt.com/ ...
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Question by: William E
I'm going through a credit management company to help me lower my debt. I am about $ 15K in the hole with various credit ...
READ MOREhow long debt management program stay on your
How is my credit affected by being in
How will being enrolled in a debt management
If you are in a debt management program
If you are in a debt management program
If you are in a debt management program
i am 10,000 dollars in debt and my
Are credit management companies a good idea to
{ 4 comments… read them below or add one }
It is a good idea to get your finances under control.
surprisingly credit counceling sevices can hurt you particularly if you are planning to buy a home or refinance soon. creditor may veiw your being in the service as a collection or forclosure as far as they are concerned. i believe that you can negotiate payment plans with your creditors just as easy as they. communication is the key. creditor just want paid so most will consider your situation and allow for a payment plan to be adopted that you can manage and be in good standing which improves your credit.
BAD..BAD…BAD…First if its a counseling program like Consumer Credit Counseling, you must complete the program or they report your failure to do so on your credit report. It’s like a new creditor and new bad debt.
If its debt consolidation, it’s basically a scam…Why entrust your financial state to a disinterested third party.
Get all your ugly, ugly bills together, grab the phone, and start calling. Ask for rate reductions, ask for temporary zero percent for a couple of months. The cards want their money; be polite, be persistent, and take the time to understand your own finances.
good luck….Hell, I’ll help you for free and won’t report your progress to your credit report.
Here is the truth about those programs.
They ruin your credit.
If all of your creditors do not participate in the program it can actually end up costing you more money.
They charge a fee per card per month.
I went through one of those programs. All of my creditors did not participate in the program. The ones that did eliminated interest so that all monies were applied to principal. The ones that did not RAISED the interest. They all canceled my accounts and reported them to the credit reporting agencies as special program. Because of the fees that were charged my net savings every month was around $ 40. Because the payment was made to the program it was all at once, debited from my bank account, instead of some from each paycheck as the due dates from the bills fell.
I ended up in a bankruptcy 7 months after I started the program.