Tilted Forum Project Discussion Community - View Single Post

SimpleMind · 10-25-2006, 09:53 AM

Thanks for the response!! How will credit counseling show up on my credit report? Will there be a notation from the Credit Card company? And if I talk for a better rate with the card company myself will that be reported as well? What is the length of time that will show up on my report? Is it the typical 7 years?

Credit Counseling seems a little shady. All these places advertise they are non-profit but yet charge hefty fees. Credit Card companies don't negotiate period. They have a strict set of guidelines the debt managment programs must follow. The card companies still dictate the rate, payment amount, and period of time to pay off the debt. Isn't it false advertising to say they negotitate for a lower payment and better rate? All these credit counseling places do is follow each card companies guidelines, and send them a proposal.

I might go ahead and put up the 2nd home for sale as is. At least it might get me out of the loan. The payments are only $156.00 escrow included. I don't have utilities hooked up. The payment is my only liability.

10-25-2006, 09:53 AM	#346 (permalink)
SimpleMind Upright	Thanks for the response Thanks for the response!! How will credit counseling show up on my credit report? Will there be a notation from the Credit Card company? And if I talk for a better rate with the card company myself will that be reported as well? What is the length of time that will show up on my report? Is it the typical 7 years? Credit Counseling seems a little shady. All these places advertise they are non-profit but yet charge hefty fees. Credit Card companies don't negotiate period. They have a strict set of guidelines the debt managment programs must follow. The card companies still dictate the rate, payment amount, and period of time to pay off the debt. Isn't it false advertising to say they negotitate for a lower payment and better rate? All these credit counseling places do is follow each card companies guidelines, and send them a proposal. I might go ahead and put up the 2nd home for sale as is. At least it might get me out of the loan. The payments are only $156.00 escrow included. I don't have utilities hooked up. The payment is my only liability.