One of the biggest concerns an individual has about receiving financial assistance is "will I need credit repair when I complete the program?" The answer depends on each individual's situation.
One of the goals of financial assistance is to provide immediate, as well as, long term relief to the client. Depending on what their credit score looks like when enrolling in a program, along with the effects during the program, will vary from client to client.
The exact amount of the decrease or increase on your credit score is impossible to quote because of the activity during the program and your overall profile. However, if you are one that prefers to go through credit repair, be sure you find a legitimate company who will benefit you in that field. As long as the debt is recognized as an outstanding debt, the creditors will continue to report it to your credit profile.
Once the debt is resolved, either on an individual level or if you use a company, then you may want to take that next step to repair any inaccuracies on your credit profile. Either way, if you are experiencing a financial hardship, ask yourself what your true goals are. Your credit score does not judge your character. It shows creditors how much availability you have for them to extend you credit. If you are maxed out now, your concerns should be with eliminating your debt, gaining back control of your life and finances, and then rebuilding.
Feel free to visit CNNMoney or MyFico to how your credit score is determined.
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