Debt consolidation program doesn't affect credit scores as bad as a bankruptcy
Q: I've been informed that a debt consolidation program will ruin my credit report the same as a bankruptcy. Is this true?
A: No, the effect of bankruptcy, Chapter 7 in particular is much worse than that of debt consolidation. It goes beyond credit scores. Bankruptcy affects your borrowing ability longer and to the higher degree. See consumer credit counseling and bankruptcy.
Wed Jan 23, 2008 11:01PM | Copyright: www.bad-credit-advisor.com | More in Credit Score Help | Comments (0)
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