Available credit is a factor in most credit scoring systems, so closing the majority of your accounts can have an adverse effect, at least in the short-term.
In the long-term, repaying your debt in full, with consistent monthly payments, should have a significantly more positive impact.
Fortunately, that negative impact will diminish over time as long as you avoid future delinquencies.
Yes, MMI is committed to maintaining your privacy and online confidentiality whether you are filling out an online counseling form or maintaining your account online.
However, as with any rule, exceptions can occasionally be made.
Discuss any accounts you’d like to keep open with your counselor.
After you make your first deposit, our support counselors are available to guide you to your financial goals.
The debt management plan itself is unlikely to be reflected on your credit report.
Some creditors may report that an account is being paid through a managed repayment plan, though most will not.
A full credit and budget counseling session typically lasts 45-60 minutes, but don’t hesitate to call and speak to a counselor—even if you have only a few minutes to spare.
Counselors are available 24 hours a day, 7 days a week to answer questions.
Over the years we’ve developed strong relationships with many of the nation's major credit corporations.