Credit Counseling: Don't Cut up That Credit Card While You're Repairing Your Bad Credit! (cont.)
Contributed by Deborah Zeitler
When bad counseling delays credit repair
Whether you hear it from a Credit Counseling service (a company which is the business of helping people to repair their credit) or your family and friends, people giving well-meaning advice might urge you to destroy your credit cards and close your accounts, when they find out how deeply in debt you are. Don't get out those scissors yet - you might be about to make a bad decision that could take years to repair!
You may find that it's really hard to get by without any form of credit card at all, because the high amount of debt you now owe makes you a bad credit risk, making you ineligible for a new credit card!
Why I'm counseling you to keep at least one credit card while you repair your bad credit
While it may not be a bad idea to get rid of most of your credit cards, the fact is that nowadays it's awfully hard to get by without having some kind of credit card. Without a credit card you wouldn't be able to write a check in many businesses, and you wouldn't even be able to apply for renting a movie at Blockbuster! So tuck that card into your wallet and just forget that it's there - until the next time you're in the mood for a good movie.
