We pay ours off every month and have done forever and have a great credit rating. debunked.

Yeah...our credit rating is great and we pay ours off every month too.

So Stormie -sorry to seem to be picking on you but you're currently my most real example- would you pay membership to this site if their advice was to pay off as much as you can and reduce your credit limits where possible? And that was it?

my understanding of credit ratings after having worked in the banking sector (admittedly quite a few years ago) is that your actual rating is only affected by black marks when you miss payments, and even then, it's normally a manual process for a company to 'report' your default. Also, it's possible at times to negotiate with companies you've defaulted with to have those defaults removed from your rating.

Right. and it's that rating coupled with your potential balance (i.e. what you could owe if you maxed out everything tomorrow) that determine whether you can get a new loan or not.

exactly

If you pay for debt counselling/credit record advice, is it in their interests to help you get out of debt/improve the situation quickly and efficiently? or just slowly enough that you can see progress so you think it's working? i bet they offer a "maintenance program" once you're finally clear of debt and your rating is OK.

oooh it's the ali and monster show....who'd'a thunk it :lol:

I think that question should go in the navel gazing forum. lol

poor old stormie, I'm sorry, I'm really not picking on you, you just popped up right in the middle of me letting off steam....

What are you all steamed up about?

people with bad credit records dispensing bad credit advice....

lol...is something that doesn't affect you really worth getting steamed up about though?

no, that's why I like to let off a little (guffaw)

(is "let off" just a brit euphemism?)