How will being on a Credit Counseling program effect my credit?

Credit counseling exists to assist creditors in collecting debts and assisting debtors in preserving credit. It is a plan that can only work if the creditors cooperate, which most of them do. However, the creditors reserve the right to report to the credit bureau that the debtor's account with them is enrolled on a credit-counseling program. In rare cases, creditors may report that you are late on payment obligations. However, most creditors view credit counseling as an acceptable alternative to reducing the burden of debt, or they would not agree to adjust the repayment terms. For debtors who are behind on their payment obligations, most creditors will arrange to bring them current after enrolling in a counseling program.