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Is Debt Wave credit couseling a good choice or a bad choice?
I have been enrolled is a program called Debt Wave credit couseling. The idea is there but it has effected my credit score trememdously. They consolidate my credit cards all into one monthly payment but they have to close the accounts in order to negotiate with the credit card companies to lower the interest rates to help me pay off quicker. I just am not sure if it was worth it anymore with my credit score taking a nose dive.

I also consolidated my student loans with Student Loan Service U.S. and I am not sure how this is going to effect my student loan debt or my credit score. The program is supposed to pay off my student debt while I set up a payment plan to repay them directly.

Please help with answering these questions it would be greatly appreciated.

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