Re: I'm paying off my debt through consumer credit counseling but...

Posted by Why Chat (209.240.222.130) on August 21, 2002 at 19:00:17:

In Reply to: I'm paying off my debt through consumer credit counseling but... posted by JT on August 21, 2002 at 18:38:03:

If you go off the program -any arrangements made about freezing interest, late charges etc. will be negated.

IF your parents are able and willing to pay off the balance due in a lump sum, it should be done through ccc.

However, your parents are doing you NO favor by getting you off the hook for the responsibilities for your own debts.

Whatever is done, continuing with ccc,or paying off the debts in a lump sum -- will NOT affect your credit report very much.What is there will stay there for the full 7 years from first default, no pay off, or other arrangement can erase your record, nor should it. A good credit record is earned by paying your debts (yourself) and handling future credit responsibly.

You are obviously fairly young, it may not seem so now, but in years to come you will benefit from learning how to face up to your responsibilities.

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