2007-01-25 04:50:47 · 4 answers · asked by FWOFJJ 1 in Business & Finance ➔ Personal Finance
Yes it will, I am a mortgage consultant and mortgage companies look at a Credit Counseling as a Chapter 13 Bankruptcy. Even if you credit score is low right now, if you have the equity in your home I would refinance your home and include all the other debt. This would be a lot cheaper and save you more money and your credit in the long run. If you need anymore advice. please feel free to contact me.
2007-01-25 05:33:10 · answer #1 · answered by Anthony P 2 · 0⤊ 1⤋
Yes. It is not as bad as bankruptcy and the rating only lasts for three years. However, the bad credit rating does not kick in until all of the debt has been paid off. Still, it does not require you relinquish all of your assets, which may make it easier on you.
2007-01-25 05:00:35 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Yes, but not as bad as a bankruptcy. If you are already behind, your credit score is already suffering.
Most people who use credit counseling go on to file bankruptcy.
2007-01-25 04:54:57 · answer #3 · answered by marshwiggle 3 · 0⤊ 1⤋
check out this site, it let's you shop for different debt elimination offers and select one that suits you perfectly!
2007-01-25 05:10:59 · answer #4 · answered by Sub t 1 · 0⤊ 1⤋