Anyone ever use Consumer Credit Counseling?

[Jason]

I started using this service about a year ago to help get rid of some major credit card debt. So far it seems to be working out pretty well. From what I understand, it does effect your credit for a while and most creditors look down upon it. Not that I care too much right now. Anyone else ever utilized this option? How did it work out for you in the longrun?

[jhd815]

I used them about 20 years ago when I was living above my means and got into debt trouble. They were able to re-negotiate some of my interest rates and it also opened my eyes to how stupid I was being about my money situation.

The service is actually funded by the credit card companies so I'm surprised that creditors "look down upon it" as you say.

In the long run they helped me get back on track and to a point where I was able to educate myself about finances, budgets, and spending.

Good Luck!

[Bluezy]

I've never used them, but might consider using them should I particiapte in a first-time home buyer program. They will help you organize your credit reports and determine what needs to be done to raise your FICO before approaching lenders.

[PRICEPLUS]

Have not needed it yet. Thank goodness.

[jmjj215]

I've heard that using it is the equivalent of filing bankruptcy (can't remember which chapter) as far as creditors are concerned? Is that accurate?