Will debt settlement hurt my credit?
Any method used to improve your debt situation other than making scheduled payments to your creditors will negatively affect your credit score. There are too many unknown variables to predict how much your score will actually decrease, however the intention of this program is to settle your debt, not to improve your score. Once the program is completed and your credit report reflects less debt or none at all, it should be easy to increase your score at that time. Keep in mind that once your debts have been settled, your credit will begin to increase again automatically, and if you utilize our recommended credit repair program, your credit can be improved dramatically in a very short period of time. It is also important to note that the process of debt settlement itself does not directly affect your credit score in any way. However, your credit score will be impacted by the fact that you are not making your minimum payments as scheduled. This will be reflected by late payments, and collections being reported on your credit reports.
Q: Who is qualified for a Debt Consolidation and Settlement Program?
Q: How soon will my accounts be settled?
Q: How does debt consolidation and negotiation compare to bankruptcy?
Q: Will debt settlement hurt my credit?
Q: What is the difference between debt settlement and consumer credit counseling?
Q: Do I have to include all my accounts in a debt consolidation and settlement program?
Q: What if my creditors won't settle?
Q: How long does a debt negotiation or debt settlement program take to complete?
Q: What kind of accounts qualify for a debt consolidation and settlement program?
Q: What are the possible tax consequences for a debt that has been settled?
Q: Will I continue to get calls and correspondence from debt collectors?
Q: Will interest and late charges accrue on my accounts while I am in debt settlement?
Q: Can I settle my accounts on my own?
Q: Is it a good idea to borrow from my 401k retirement plan to pay off my credit cards?
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| Our Program | Debt Consolidation Loan | Credit Counseling | Minimum Payments |
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| Total Unsecured Debt | $30,000 | $30,000 | $30,000 | $30,000 |
| Months To Pay Off | 46 | 60 | 60 | 433 |
| Interest Paid | None | 12% | Variable | 18.99% |
| Monthly Payment | $498 | $667 | $855 | $900 |
| Total Est. Cost | $22,950 | $40,040 | $51,300 | $80,619 |
* The above numbers are an example of past performance and are not intended to be a guarantee of any future settlement results.
