Your Credit Score is a way for potential lenders to measure your risk, and to decide if you are eligible for a mortgage, car loan, or other forms of credit. If you are missing payments because of high interest rates and over-limit fees, if you are making “short payments” – payments which are less than the required minimum amounts due – then your credit score will be negatively impacted. Another name for your credit score is the FICO score. Being enrolled on our debt consolidation Debt Management Program does not automatically have a negative impact on your credit score. In fact, it can actually help your credit rating, because our debt consolidation plan allows you to pay down your debt much more quickly. Please visit the “Credit Education” section of
www.myfico.com website for more detailed information.
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