How Bad Will Credit Counseling Be For My Credit?
i have been paying my bills with cash advances from my credit cards because we have been very slow at work 4 the past 9 months. all of my bills are on time but now i am in debt about 20k dollars and see no way out anytime soon and my cc are just about maxed out
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I don’t get it.
Considering the main reason why you need a good credit is in order to borrow money, why should you care about having a good credit at this point?
You just said that you have borrowed to the max that you can borrow and your credit cards are maxed out etc etc so just WHY would you care if you cannot borrow any more?
You should be HAPPY instead. Or you’d prefer to be here in about 12 months saying that you owe 60k dollars and please how to fix my credit?
I don’t get it.
Your credit report will be updated to “enrolled in debt management.” This does not damage your credit, but it may make it impossible to obtain new credit while you are enrolled in their program….so don’t use this service if you anticipate applying for a new apartment, car loan or mortgage anytime soon, as you would probably be denied while you’re enrolled in the CCCS debt management program…. Enrolling in CCCS will definitely put a stop to getting more cash advances…so be forewarned…Otherwise, it can be a very good way to deal with your debt.
Please note that CCCS cannot perform miracles in situations where there is an overwhelming level of debt relative to your income/assets. Although CCCS is technically a non-profit organization, it is also partially supported/promoted by the credit card industry. My only concern with CCCS is that they might discourage a person from filing for Chapter 7 when in reality that might be in that person’s best interest. Sometimes Chapter 7 bankruptcy is the only solution to overwhelming debt.