Need Credit for Business

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  • I am going on 4 months of being with Care One. I have no complaint other than it was not explained to me that the accounts would be closed. No issue there as it makes sense. The problem that I am running into now is that I do need access to a line of credit for business. I have taken a contract position that requires extensive travel, and I need the ability to pay for expenses incurred during those business trips. Flights, hotels, food, etc.... I am 100% committed to getting out of debt, but I do need to have access to revolving credit for use outside of my personal spending.

    All of this being said, my score has dipped since I began the program. I was always in the mid-lower 700's, and now I am in the mid-lower 600's. This I have come to find out has nothing to do with my ability to be approved for a line of credit. The fact that I am in a DMP and the 3 accounts that are enrolled have been closed has caused me to in essence be "black listed" from being approved for any credit.

    I am financially in a position to repay the personal debt within the next 2 months, so I am wondering as to whether or not removing myself from the DMP would result in me being removed from the "black list" and again having access to revolving lines of credit.

  • Hi camcelmur86,

    I understand your concerns and I apologize that you were not aware that your accounts would be closed and that the Program may affect your credit.

    If you choose to cancel your Debt Management Program, your creditors will be advised and it will be up to them as to whether they will allow you to re-open your current accounts or to open new accounts.

    Please note that the purpose of our Debt Management Program is to help you pay your outstanding debts. We cannot make any representation about any aspect of your credit record, credit history or credit rating. However, the following are links may provide helpful information for your situation.


    How to repair your credit and improve your FICO credit score:




    What can I do to improve my credit worthiness?


    I wish you the best!


    Kelly K

    CareOne Community Support Team

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