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12347

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I have improved my credi score. Should I consider a debt relief program?
I had to retire due to medical and personal reasons. Because of the reduction of my income, I am needing debt relief. I have heard that debt relief programs may cause a credit score decrease. I would like some suggestions concerning my issue. A response will be greatly appreciated.

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You have to pay for a debt relief program and some of them have practices that hurt your credit score.  Better to look at Dave Ramsey's site for ideas on debt repayment because he does have some smart ideas.

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12347

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Thanks for your response.  What is Dave's site address?

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Do your homework

When my wife lost her job. We immediately called all of our credit card companies and tried to get on a hardship program based on  a reduction of income BEFORE we were late with payments. Most of them were very helpful, offering some sort reduced interest rate for at least one year.

A few wouldn't help until we missed a payment (AT&T, Barclay Card, Discover)

A few refused to help at all (Chase, Target)

After we had as many hardship programs in place as possible, I tried reaching out to American Consumer Credit Counseling to find out about debt consolidation programs. 

The short story is that I was able to get better programs on my own one credit card at a time than I would have been by packaging them together through the credit counseling service.

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