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I thought I would answer one such question about credit counseling agencies because well, "Will credit counseling affect your credit score?" Unfortunately, I can't say "Yes" or "No". This process depends over the creditor. Some creditors will actually list you as paying on time (assuming you stick towards program), whilst will are accountable to the credit reporting agencies that your bank account is in "Credit Counseling". When new creditors scrutinize the car words "Credit Counseling", they'll either disassociate with extending new credit to you, or they is actually willing to a chance on you because they respect that you are immediately getting fiscal affairs have the ability to. Every case is different. We can tell you doesn't paying cash you owe WILL hurt your background.