Hi all! Longtime lurker, rare poster. I got in way over my head in the last few years with credit cards. A few months ago, I decided to join a debt management program (DMP) through Guidewell Financial Services (formerly Consumer Credit Counseling Service). I’m in Maryland, by the way. I had a lot of anxiety and shame about my financial situation. I was never late, but definitely struggling to keep up with the minimum payments. I was thinking a lot about my future and knew I had to do something because it wasn’t looking too bright. After calling Guidewell, I felt a huge sense of relief. I had some hesitation about the program before I called, after reading some of the horror stories on here. Everyone I talked to was helpful, answered all my questions and I never felt judged, just supported.
I’m two months into the program and I pulled a copy of my CR today. All of the accounts included in the program are reporting as closed (except for Cap One) and “managed by a financial counseling program”. None are showing late.
Adjusting to life with very limited credit has been difficult, but I no longer feel the debt monkey on my back. I make one payment a month to them for the creditors, and Guidewell’s fee is $ 40 per month. I can’t say enough good things about this choice. I’ll be credit card debt free in < 4 years. Hope my experience is helpful to anyone thinking about this route!