subject: Why You Should Choose Credit Counseling Over Debt Settlement [print this page] Credit card debt settlement programs are intended for consumers who unfortunately are way too much in debt and generally are not concerned about the credit score damage this program will inevitably lead to. In contrast, a credit counseling service will maintain your credit score while it facilitates your efforts in becoming debt-free. It will be recorded on your credit report that you are making payments through a credit counseling agency, but FICO or Fair Isaac Corporation will not factor this in when calculating your credit score. The companies that offer DMP's (credit counseling agencies and other debt solutions providers) are also quite effective at stopping the annoying debt collection phone calls that consumers who are past-due on their accounts often encounter. In addition, the fees incurred are less than the ones from debt settlement programs, and you will find many of the companies are non-profit as well. Lastly, consumers can make use of the educational financial counseling that accompanies a debt management plan if they elect to go that route.
Why You Should Choose Credit Counseling Over Debt Settlement
