Help me understand
Howdy! My 28M husband is in a debt consolidation program. Based on what he’s told me, they dispute/settle with each card for a lesser amount and he makes payments to the program directly. I’m the type of person that always makes payments on time and freaks out about debt. I’m trying to fully understand this process and how much this would affect him and his credit score moving forward? And if it would affect me if we were to go in on a loan together? I believe he’s enrolled with Five Lakes? He is supposed to be done with the program by this summer but is still waiting on a card to be negotiated so it might be going on longer than originally told. How long will it take him to build his credit back up? Has anyone been in the same boat and can provide insight and advice? It would be greatly appreciated!
Posted Feb 18, 2025, 8:59 PM UTC