Real Estate Blog - Credit Counseling is a Negative...

Home : Blogs : aasent Mortgage Corporation National Lender for FHA & Conventional : My Blog

Credit Counseling is a Negative...

As a Loan Officer, we view the use of credit counseling services as similar to a Chapter 13 bankruptcy, because both can entail a payment plan and re-negotiation of debt payments. Some people who are using a credit counseling service do end up filing bankruptcy because they still don't have the income or money management skills to handle the payments. So, in some cases use of such a service can be a negative.

Posted by aasent Mortgage Corporation National Lender for FHA & Conventional on 07/16/2007 10:42 PM

Comments (2)

credit counseling

2 Comments on Credit Counseling is a Negative...

JUL

2007

How would you view it in the mentioned situation above as negative? If it was a bad situation to begin with, then they really have nothing to lose and I am sure, we have some success stories. . so how is it negative?

Even if they end up filing bankrupcy after counseling... I still wouldn't call it nagative....

My two cents...and maybe offcourse I am missing something...

JUL

2007

Credit Counseling can kill your credit.

However, I applaud those that TRY to pay their bills.

This blog does not allow anonymous comments