There are many different views on this. Here is some useful data on how to determine for yourself whether credit counseling is good or bad for your credit score.
Craig Watts, Public Affairs Manager at Fair Isaac Corp. (FICO), has stated that it is not their goal to have consumers consider credit counseling to be detrimental to their FICO scores.
This is good news; however, if the credit counselor negotiates a lesser contractual obligation, it is the lender who decides how to report that new obligation to the credit reporting agencies.
{"id":276,"date":"2006-09-25T11:45:50","date_gmt":"2006-09-25T16:45:50","guid":{"rendered":"http:\/\/www.cashunclaimed.com\/unclaimed-property-blog\/personal-finance\/how-does-credit-counseling-affect-credit-scores"},"modified":"2006-09-25T11:46:01","modified_gmt":"2006-09-25T16:46:01","slug":"how-does-credit-counseling-affect-credit-scores","status":"publish","type":"post","link":"https:\/\/www.cashunclaimed.com\/unclaimed-property-blog\/unclaimed-property\/how-does-credit-counseling-affect-credit-scores","title":{"rendered":"How does credit counseling affect credit scores?"},"content":{"rendered":"\n\n\t<\/p>
There are many different views on this. Here is some useful data on how to determine for yourself whether credit counseling is good or bad for your credit score.<\/p>\n\n\t
<\/p>
Craig Watts, Public Affairs Manager at Fair Isaac Corp. (FICO), has stated that it is not their goal to have consumers consider credit counseling to be detrimental to their FICO<\/span> scores.<\/p>\n\n\t <\/p> This is good news; however, if the credit counselor negotiates a lesser contractual obligation, it is the lender who decides how to report that new obligation to the credit reporting agencies. <\/p>\n\n