Question by Steven C: Will participating in Consumer Credit Counseling affect my credit score negatively in any way?
Best answer:
Answer by Toodeemo
Absolutely. Any time there is an accomodation or payment that settles or otherwise compromises the original terms and ocnditions of the contract of repayment, there is going to be a negative report. In theory, the creditor can not agree not to report negative information. Most CCC programs require you to be in default before they will accept you, and most repayment programs by definition intending you are paying while in default. The question is, will making the payments for a lower amount be good in the long jogging than just allowing the fail to continue, become more serious, without payment. For most people, the CCC programs are the better choice. But not all.
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