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has anyone tried one of those credit manager companies?

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Laura

Laura

Joined: 21 Jun 2007
Laura's page
Posts: 1400

34725 Magic Points

Wed Jan 02, 2008 11:10 am

I can see the great progress int he thread. Amazing information Shawpiro.
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Regards,
Laura.

MCasper

Joined: 31 Dec 2007
MCasper's page
Posts: 25
Location: Pennsylvania

1239 Magic Points

Wed Jan 02, 2008 5:12 pm

CCCS will show on your credit report as a third party service; any form of loan that has manual underwriting will look at it and treat it as a Chapter 13 BK. Only way to get a mortgage with a Chp. 13 BK or CCCS on your report is to find an lender that offers BK buyouts. This will generally only be with sub-prime lenders, and usually only offered with a 2/28 ARM product (from my experience).

Debt Settlement/Negotiation companies don't show up on your credit report as a third party service. They do however, hurt your credit score a little more then CCCS.

Both have benefits and drawbacks, atleast once per day I speak to a client that I refer to a CCCS agency because our program wouldn't benefit them.
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Michael Casper
Senior Debt Advisor
www.clearonedebt.com

P:(484)455-2677
F:(866)573-8632

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