Okay, I'm no expert but here is my story. My wife lost her job and we had a ton of bills. We went to one of the credit management places like you see on TV. The lady assured us that we were doing the right thing by not filling bankruptcy and that credit management would not have a negative impact on our credit...WRONG!!! I find out latter that being under credit management is worse than bankruptcy. I could not buy a car, get a credit card or anything else related to credit. I filled bankruptcy, walked away from thousands in unsecured debt and was able to purchase a new car and a new home within a year. It has been almost 7 years now and my credit is almost perfect. This is just my experience. Do your homework before taking such a drastic measure.
|