Credit Counselling

[Speckled28]

I'm wondering if anyone here has any experience with this? My mom wants to look into it, while my dad for some reason thinks it's all a scam. I realize some agencies are scams....like with anything else....and you need to do your research.....but I thought maybe someone on here might have some advice or experiences to share? It would be greatly appreciated.

[carmanelectric]

I have not experienced it but I have had 2 friends who have. Both have different views of how it was. Credit counselling usually equals debt consolidation and the agency negotiating reduced debt payment. But all of it comes at a cost to your credit score. 1st friend, figured the hit to their credit score was as bad as having filed for bankruptcy (and wished they had filed for bankruptcy). The 2nd friend thought it was a great learning experience that taught her how to keep track of her finances and communicate better about her finances to the people she needed to talk to. While her credit score damage for a long while, she managed to recover it, and negotiate 1-on-1 with her bank to be willing to take on a mortgage with her.

[MortgageQueen]

I'm wondering if anyone here has any experience with this? My mom wants to look into it, while my dad for some reason thinks it's all a scam. I realize some agencies are scams....like with anything else....and you need to do your research.....but I thought maybe someone on here might have some advice or experiences to share? It would be greatly appreciated.

If you can supply the reason they're looking at credit counselling, I could help you further. .

[MortgageQueen]

The 2nd friend thought it was a great learning experience that taught her how to keep track of her finances and communicate better about her finances to the people she needed to talk to. While her credit score damage for a long while, she managed to recover it, and negotiate 1-on-1 with her bank to be willing to take on a mortgage with her.

While that's very good that she learned alot, getting intervention on one's credit issues would not be the best idea in that scenario. You can learn tons of info on the internet on how to manage your finances and even in groups such as ours. I think anyone in SC who has experience in this would be quite willing to give a helping hand.

[Speckled28]

If you can supply the reason they're looking at credit counselling, I could help you further. .

Would you mind if I responded via a pm? Since it's my parents.....I do know the details but don't really want to put them all out there on a public forum.

[MortgageQueen]

Of course!!! By all means.

[Insane]

A little dated but good info. My view is that they are a scam and you are better off meeting with a trustee.

http://www.bankruptcycanada.com/blog...ling-industry/