Consumer Credit Report


How does using consumer credit counseling affect my credit report?


FICO scores are the most widely used credit reports. The MyFICO website says, “Using a credit counseling service and having this reported in your credit report should not have any negative impact to your FICO score.”

A credit report is a summary of how you have used credit. If you pay your credit obligations on time, that should help you to have a good credit score. If you make late payments, either before or after working with a consumer credit counseling agency, that can negatively affect your score.

If you go on a Debt Management Plan (DMP), the impact on your credit report will depend on the creditor’s policy in reporting to the Credit Bureau and the status of your credit report prior to your working with us. The DMP does not interfere with the contract you have with that creditor. How your credit report will be viewed after the DMP starts will depend on the policies of the lender or other creditor.