The facts
Date: Fri, 06/03/2005 - 09:48
The facts
I think that this forum is a great idea and that the information provided is very helpful, but many of the responses that I read all have the same information and no detailed answers. i am considering enrolling in this program and have spoken with a counselor and I can't get a straight answer on how this process will effect my credit or my relationship with other creditors in the future.
By enrolling in this program what will happen to my credit and how long will it be effected for? My program is for 20 months.
By enrolling in this program what will happen to my credit and how long will it be effected for? My program is for 20 months.
Hi malyssaWelcome to the forums. We thank you for your a
Hi malyssa
Welcome to the forums.
We thank you for your appreciating words. In this community, we are always trying our best to provide the most reliable information of how to deal with the various debt related problems. We believe that we will be able to make your stay in the forums healthier in your every visit.
It is good on your part that you are considering enrollment for the debt consolidation program. This program will be very helpful in enhancing your financial position as you will get free from all your debts within a reasonable period of time.
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By enrolling in this program what will happen to my credit |
Your credit report will show that you have been enrolled in the debt consolidation program. The purpose is that you don't acquire any additional credit during this program so that it does not harm you further. This will boost up your financial identification as you have taken the responsibility to clear off your debts. It does not harm your report in any way. After all, your credit report is the most prestigious financial document that you possess and it should be clean from all negative entries.
Quote:
how long will it be effected for? My program is for 20 months. |
As long as you will be in the program, it will be shown in your credit report. If you are considering for a program of 20 months, it will wipe off after you have cleared all the dues.
Please let us know if you have confusions further.
Regards
Roxette
