Has Anyone participated in a Debt Management Program?


You pay a organization a set payment every month and they pay your creditors? If so how did it affect your credit score or ability to get a loan? I am tired of being in debt and would like to get out before it’s too late, but I don’t want to wreck our credit history in the process.


I did it and my credit was unaffected and actually improved. Make sure you go with a good company their are some bad ones out there but it made things bearable until we climbed out of the whole we dug.


I think that we use Cambridge and it must be helping. Much to my disgust, I am once again getting offers for credit cards.:rolleyes: We are trying to get out of debt before my hubby retires from the military.

Please people, if you can at all avoid it, do not go into debt. It is better to have less and an inexpensive piece of junk car that you own outright then enslave yourself to a credit company.:frowning:


Fair Isaac Corp ignores participation in a debt management plan when computing the FICO score, and has done so since 1999.


I was once in one and most of the cards went down or stayed the same. Discover raise its interest rate to over 20%, and one, I think Bank of America, went to 0. If I ever get a credit card again it won’t be Discover who turned the screw when they had the chance.




“Consumer Credit Counseling Service”


They are a non-profit,recommended by Clark Howard and a few others.


We’ve used them before, too.


We listen to and take a lot of great advice from Dave Ramsey. He wrote TOTAL MONEY MAKEOVER and some other things. Around here he in on AM radio and he has a website. He’s also got workbooks and seminars (he travels around). I know a lot of people who have benefitted from his sound advice.

Best of Luck!


Try this if you dont want to get credit card offers… i did and now I dont get any of them so I know that it really works!!!

If you decide that you don’t want to receive prescreened offers of credit and insurance, you have two choices: You can opt out of receiving them for five years or opt out of receiving them permanently. Call toll-free 1-888-5-OPTOUT (1-888-567-8688) or visit www.optoutprescreen.com for details. The telephone number and website are operated by the major consumer reporting companies. When you call or visit the website, you’ll be asked to provide certain personal information, including your home telephone number, name, Social Security number, and date of birth. The information you provide is confidential and will be used only to process your request to opt out.


I can’t recommend this enough. You can check out his books from the library. (Financial Peace is a great start if you are in a lot of trouble.) He shows you how to take care of this yourself. You don’t have to pay fees to other people, but you have to want to work it.


Debt management is needed otherwise it is difficult to save money if one has been paying to o much debt that is why it is better to get in touch with professionals for the best advice…getfreedebtadvicenow.com/


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