How does the debt management plan affect my credit score?

By , Posted on Sep 14, 2015

Your credit score is not directly affected by joining a debt management plan (see 4 credit-scoring myths). While some lenders may treat credit counseling unfavorably, the long-term effects of a debt management plan are beneficial. In fact, the debt management plan is designed to allow you to rebuild and restore your credit history by giving you an opportunity to:

  • Bring your accounts to current status without having to pay large past due amounts.
  • Rebuild and restore payment history.
  • Reduce your overall amount of debt faster.

In 2003 alone, over 50 of our clients on the debt management plan were approved for home loans.

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