Credit Tips: Credit Counseling Service Tips
Written by carnold
Posted On: February 1, 2006
archive
Posted: Wed Jan 12, 2005 10:44 pm
Post subject: Credit Counseling Service Tips
Fred Plata
Date: 8/22/2000 7:26 pm CDT
I decided to let CCCS assist me with getting out of debt. That alone was not a problem but the gas card that I turned in had a $69 balance and I debated On whether or not I should dispose of the card myself. I did not but asked the counselor to pay this balance first then focus on the highest interest rate card.
Well that did not happen; instead, CCCS paid this creditor $10 a month so the account is now being reported on my report as a collection account.
There are a couple of important points to take from this story. First, A credit counseling service does not do anything that you cannot do if your committed to being debt free. And second, If you do decide to use the service do not turn in a card with a good rating that can be easily paid off.
I am trying to get both CCCS and the creditor to help erase this information; however, I am not real experienced at working with these folks so I may be in for a long road through 2006 (That is the year the information is due to be erased from my report).
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Curtis Arnold, a nationally recognized consumer educator and advocate, has been educating consumers about credit cards since 1998. Curtis is the author of "How You Can Profit from Credit Cards: Using Credit to Improve Your Financial Life and Bottom Line" (FT Press, 2008). He is also the co-author of the upcoming Complete Idiot's Guide to Person-to-Person Lending (Alpha Books/Pengiun Group USA, April 2009), a contribitor to The Ultimate Allowance (InnerWealth Publishing, 2008) and is extensively featured in 42 RulesTM for Driving Success With Books (Super Star Press, January 2009).
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