Delinquent on Debt Management Program
December 1st, 2010 by Questions
I was on a Debt Management Program from Credit Counseling. I owe $50,000 in debts when I first started with the program but then my income change and I could not afford to continue, so I just stopped making payments. By then, I only owed around $25,000 in debts. What will happen to my credit now? Will my creditors start coming after me with full interests? I read on some blogs and posts that the accounts that got delinquent will be erased on the credit bureau after 7 years. Is it true? What can I do now? Please help.
Posted from: British Columbia