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Hello,
I have a new client who has significant credit card debt. I am trying to help her navigate towards more manageable payments and repairing her credit score. Because of the magnitude of her debt versus income, it may make more sense for her to work with a credit repair company.
Does anyone have any experience with this and could recommend a good company to work with?
Thank you,
RuthMy day job is with Money Management International. She may be suitable for this or a similar credit counseling service. I am not familiar with any credit repair companies I trust.
I am a designated Ramsey Solutions Financial Coach. I strongly advocate against credit repair companies. They only do what the client can do on their own; make a plan. Do not throw all the eggs in one basket with debt consolidation, though it lowers the payments, it extends the debt. List the debts from smallest to largest, pay minimums on each and all extra available funds to the smallest debt. Meanwhile, cut out all unnecessary expenses and create a budget. Finally, have the client close credit card accounts so they do not continue to add more debt.
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