Do those credit counseling people actualy like consolidate and make payments easier?.ALSO by calling does this lower your credit score significantly.
Some companies will not work with credit counseling so make sure all the place you have debt with will work with them. You might do better calling the place u have debt in yourself and trying to see what you can do.
Credit counseling (CC) can be a great asset but it depends. How many credit cards/unsecured debt you have, than how much money per month does your budget allow you to dedicate for repayment. CC will cut monthly minimum payments about 40 to 60% and lower APR's from 0 to 12%. and it is a 5 year plan. if you miss payments you will be removed from the CC. Debt managment companies will charge you monthly payments, but they will wait for your account to defult as bad debts be for they start the repayment process. when you work with CC's they report to credit beauros for the first 3 mths, then they stop reporting. So working with CC's dings your credit temporarily, but after 6ths of repayment, you start rebuilding a positive payment history.
Source: http://www.financetalkinghub.com/credit-counseling-commercials.html
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