I have been told from a friend who used to work in the mortgage industry that using Consumer Credit Counseling Services makes it harder to get a loan that if you declare bankruptcy. Basically she said that of her clients that had used CCCS, none of them got approved and some of the people who had filed for bankruptcy had been approved. I ran this by some other non-experts in the field, and they think that maybe while you're on the program you can't get any credit, but once it's over you can.... That would be fine with me, but I want to know before I make a decision on what to do. Thanks in advance for your help.
My take on this is that some lenders look at CCCS and will not want to do business with you, but there are other lenders that will. I think that paying off the debt through CCCS is what the lenders want to see before they work with you. To me a BK is the about the worst thing that you can do and there are plenty of lenders who accept those people with open arms.
hmmm... Gosh I hope so, but I really need to do something quick, before I have a "30 days late" black mark on my credit. I have only 1 in my 12 years since getting my first loan. I don't want any more..
Have you tried to work out something with the company that you may get the 30 days late on? If you are not late yet, then I would call and see if you can work out an arrangement with them first, some of them have hardship programs that may help you
I did, and they told me they only work with a 3rd party. They're the ones who recommended CCCS and said that it will only affect my credit rating WHILE I am using their services. They wouldn't cut me any slack..
