The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  https://boards.fool.com/when-does-debt-consolidation-make-sense-15184206.aspx

Subject:  when does debt consolidation make sense? Date:  6/15/2001  8:16 PM
Author:  hugh99 Number:  76708 of 313080

I have a quick question which you can respond to without reading the rest of my message, if you're in a hurry:

Credit counseling services are good, because you get a lower interest rate while in the program. However, if you use their services, you also get a "debt management" notation on your credit history.

Here's the question: How much of liability is that notation, especially in the context of someone who has been rebuilding a good credit rating over the past three years and but still carries a high income-debt ratio.

If you have experience with this or have direct knowledge about the actual significance of the debt management notation, I would love to hear from you.

Thanks,

Hugh
Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us