Any accounts you enroll in a credit counseling are likely to have a notation added to your credit report, indicating that the account is under the supervision of a third party or debt management plan. That notation, in and of itself, does not lower your score. However, lenders and creditors may be hesitant to issue new credit when you are enrolled in the credit counseling program. Credit counseling is frequently treated by lenders as if you had filed for Chapter 13 bankruptcy, but it will not hurt your FICO credit score. If you are required to close long-standing accounts or the credit counseling program misses a payment, your score can be harmed.