Julian Credit Management is a non-profit, nationwide
debt consolidation and credit counseling organization, located in Central Florida.
Our dedicated counselors can help you restructure your bills
and make a payment plan that can cut years and thousands
of dollars off your long-term debts like credit cards, mortgages, and other loans.
Our debt management program can help you repay your debts:
We help you establish a spending plan, determine your financial options,
save money on interest and late fees, get your creditors off your back,
and provide you with useful information.
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This is a very common question asked to Credit Counselors. Most people that require Credit Counseling are already behind and receiving late and over limit fees, and are already being reported to the Credit Bureau. Credit Counseling's goal is to get regular monthly payments to the creditors so they will stop reporting the account late. Then the creditor will re-age the accounts and consider them current, which is positive reporting on the credit report. The major credit card companies will do this for their customers while on the CCCS program.
What happens to your credit during counseling largely depends on how the lenders report your account to the credit bureaus.
A notation on your credit report regarding CCCS won't hurt your score. The credit score formula, known as FIC, now ignores any reference to credit counseling that may appear. This notation is mainly to prevent you from getting other credit cards while on the CCCS program. Once the program is completed this notation will be removed and you will be able to apply for new credit.
Even some lenders that were suspicious of CCCS have changed their views and are more lenient. Mortgage lenders are more willing to lend to people who have completed the program, or if a good report is given to them from the CCCS Company. They also are encouraged that the customer is getting his or her debts under control.
Citibank, a major lender, says,"We always viewed that as a positive. We've seen that people who enter these programs, there is a significantly lower rate of default."
Julian Credit Management is a firm that practices exclusively in the area of Bankruptcy and Debt Consolidation and has offices in Clearwater (Pinellas County), Port Richey (Pasco County), Tampa (Hillsborough County), Lakeland (Polk County) and Orlando (Orange County). We represent persons throughout the State of Florida.
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