do companies like "consumer credit counseling" places really work? do they really fix your credit?

Answer 1

Most of the other answerers are very good. But to add: If you do decide that you want to hire a consumer credit counselor a.k.a. debt consolidator, I did some research on the web to see if there were any unbiased ratings, comparisons or reviews. I did find one here: http://www.lendersrated.com/index.htm

I hope this helps.
Leafgreen

Answer 2

There is never a magic "fix" for your credit. Consumer credit counseling agencies help you get back on track with your bills through lower payments and reduced interest.

Through a debt management plan, you can improve your credit score gradually as your debt balances are reduced. Your credit counselor should discuss how it works as well as provide realistic expectations of what help they can provide.

You can usually find a reputable credit counseling agency in most local areas. Feel free to find a local service through the directory.

Answer 3

Going through a consumer counseling service does not look great on a credit report. The thing is, they deduct the monthly fee from your account; so the creditors will get their money. Showing that payments are being made to your creditors, regularly, is always good. This also depends on how bad your credit is.
If you stick to one, you will see your debt drop drastically, which is great. However you go about it, just pay the debt, and don not file for bankruptcy.

Answer 4

I'm sorry - I used to work for a 'CCC' firm that used those first 3 C's but I do NOT recommend using any of these type of agencies. There were times that payments did not get posted, which made the clients default and they continued to get harassed by the creditors. It does happen. Sometimes it does work for people - but not really. I saw that the only way to make a difference in your payments is to pay it off yourself. Negotiate with the creditors and see if you can get a lower rate yourself. If not- transfer your debt to credit that has 0% interest so you can pay it off faster.

Answer 5

If they claim to 'fix' your credit, they are not legitimate. If the negotiate a reduction in debt/interest, they may deliver, but you credit will show 'settled for less than full amount'. (I not sure of exact wording.) If they offer to help with budgeting and teach you to manage your money, its probably worthwhile. Note: this last category does not deal with creditors and will not show on your credit report.

Answer 6

They don't fix your credit, but they help you get back on the right track with consolidation and education. They are the number one recommended in the United States and most creditors will work with them.

Answer 7

Be extremely careful of CCC companies.
Thoroughly check out any company that you may use.
Many people have found that they are worse off then before they used one of those companies.

You might check out the site I've listed and do some reading. Learn how to repair your credit yourself.

Answer 8

You fix your own credit....Yes, CCCS can and do help people. they negotiate payments and lower interest rates with all your creditors and you pay them one payment faithfully each month and your debt will eventually go away.. Make sure you go thru a non-profit CCCS agency like Genius Credit Management... You can find them via toll free operator and it is a solution.

Answer 9

Well, in a way they will by trying to agree with your creditors on time. But being in trouble in the first place is a bad spot on your record. So it will help, but not that much.

As far as fixing it "like it never happend" - sorry - it doesn't work that way. Beware!

Answer 10

Just be careful, because these companies will pay your bills when they want to, and if they pay later than your due date, you will have late payments show up on your credit report!