Does it come out on your credit if....?

Question

If you use a credit repair service or a debt consolidation program, does it come out on your credit report? If anyone has used this kind of service, has it come out on your report?

Answer 1

Note that a credit repair company provides a very different service from a consolidation program.  Credit repair companies work on removing negative items from your credit reports while consolidation companies try to lower your monthly payments.  A pure credit repair company will not do anything to eliminate debt.

Debt consolidation and debt settlement services can show up on your credit reports, especially if you do not complete the programs.

The fact that you have used a credit repair service does not show up on your credit reports.

Answer 2

Before you sign up with a credit repair/debt consolidation company, read this:  http://www.ftc.gov/bcp/conline/pubs/cred...

Almost all of these companies are scams.  They will charge you huge fees and trash your credit.