Crown Financial Ministries, Now thinking CareOne Debt Management?

[minnie1928]

What did it do to your credit? According to CareOne this plan will not affect our credit in any way. We can not obtain any new "consumer" credit lines while enrolled in the program, but it would not effect our score or report. How exactly did it affect you?

My mom worked with Consumer Credit Counseling to have a similar service provided. Her accounts were flagged as "managed by credit management company" (or something similar) and that's what hurt the score.

You can do this on your own. If you have them pay your debts (after you've paid them), then you are relying on them to make the payments on time and to the proper creditor for the right amount. Make the payments yourself, save yourself the fee and reduce the risk of hurting your score.

Best thing to do, go to the library and check out Total Money Makeover by Dave Ramsey for free. It'll tell you everything you need to know for free.

 

[dvcgirl]

Just wanted to point out that this thread is 5.5 years old. The person who restarted it (I don't see that person's post here now....maybe it was pulled?) was clearly someone who works for a Debt Management company. They posted a URL to some site....