This Week's Credit Tip

Credit Counseling: Will it Ruin Your Credit Score?

It's a common belief that credit counseling can trash your credit score. In fact, some people even claim that enrollment in a credit counseling program is as bad as filing bankruptcy, which can often linger as a big black mark on your credit reports for up to ten years. However, the truth is credit counseling in and of itself will have no effect on your FICO score—the three-digit number most commonly used among lenders to determine credit worthiness. According to FICO, "whether or not you are participating...Full Weekly Tip

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