Does Credit Counseling Bruise Your Credit Report?

Does credit counseling bruise your credit report? On the contrary, it can actually improve your credit score significantly! It should be noted that there are really bad cases where a persons credit is so damaged that the only sensible option would be to declare bankruptcy or undergo massive consolidation. This would be one of the few circumstances where a counseling service would recommend anything that would bring your credit score down. In the few cases where a person is that deep in debt, bankruptcy or consolidation is usually the best possible decision to be made. Most people with bad credit are not usually in that severe of a position and will enjoy a rise in their credit score after working with a counselor.

Counseling companies are dedicated to helping you find a way to manage your existing debts while simultaneously increasing your credit score. Working with a counseling service is a great choice if you wish to develop a solid financial foundation. Another added benefit to an increased credit score is increased ability to obtain loans and credit cards with higher limits. This is essential if you want to buy a new house, need a new car, or have a financial emergency. The pros definitely outweigh the cons when it comes to credit counseling.

There are a multitude of different ways you can increase your financial standing and many of these methods are not always obvious. This is why counseling has became so important to consumers who do not possess all the knowledge necessary to make informed decisions. The reason most people fall so deep into debt is because they were not entirely aware of what they were getting into in the first place. After speaking with a counselor you will be better able to manage the debt you already owe and learn how to avoid mistakes in the future. Your credit report will certainly thank you for the time and the effort you put into making a change.

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