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MLJacksonCPA.Com, Certified Public Accountant (CPA)
Category: Tax
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Experience:  B.S. Accounting and Finance from the Univ. of Washington, Masters in Taxation Golden Gate Univ. (IP)
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I have about 10,000 in credit card debt. Some from when I ...

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I have about 10,000 in credit card debt. mostly from when I lost my job, I got sick and my insurance didn''t cover everything, they sent it to collections when I was trying to set up payment arrangements and in order to not show collections on my credit report I had to pay it off with credit cards (not a smart idea) I have never had this much debt before. I was planning on going through debtamerica.com where I can have it paid off in 3 years for 229 a month. Can you tell me if debtamerica.com will negatively affect my credit.
In short, no. It will not negatively affect your credit.

DebtAmerica.Com is like any other credit counseling service: They negotiate a payment plan on your behalf, and then you start making payments. The problem that I have with these credit couseling services is that they're running a for profit business. They perform a service that you could perform yourself, and then charge you for it. In other words, I would recommend contacting your credit cards on your own. You'll be suprised how willing they are to put you on a payment plan. Don't be fooled if DebtAmerica tells you they are a free service, because nothing is free.

I hope this helps,

XXXXX XXXXX, CPA
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