In October of 2005 we met with a local branch of Consumer Credit Counseling Services because we had balances on a large amount of credit cards, and we found ourselves missing payments once in awhile which was racking up fees and becoming increasingly frustrating. They came up with a plan for a single payment that we could meet and they would disperse that amount to our credit cards. There were some glitches the first few months for them getting payments made by the due dates, but everything got worked out. So overall, I think their service has been beneficial for us.

So tonight, I’m sitting here reading though Total Money Makeover and Dave states that these debt management companies, stating CCCS specifically along with Ameridebt, are to be avoided. He states that using a dept management company trashes your credit record and makes it look like a chapter 13 to potential lenders. So now I googling like crazy to find stats to back that up, but I haven’t found anything yet. Can anyone give more insight to this?