Can anyone shed some light on the negative credit implications that enrolling in a debt management program could cause? I'm not behind on any payments, but am being urged to do this by my credit union (they hold the first and second mortgage on my home). Long story, will provide more details if they make a difference. Thanks in advance. This site is amazing!

It's not good. Any creditors that see you need debt counseling will not take kindly to it.

Anything they can do you can do. Just get on the stick and get on top of it. Save yourself
The money and bull. It's not that hard to make things better.

I can not image any reason a credit union would want payments to go though a credit service. In most the companies try and work out deals to lower amounts paid, account balances, it will hurt your credit report. If you are able to make your payments you need to do that

I thought that was strange as well...

Thanks for the quick replies.

They are re-working my mortgage after a recent divorce. They recommended it to improve the debt-to-income ratio.

Signing up isn't going to reduce it. Paying the debt down will. Glad to help.