Anonymous
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Sub: #1 credit score
Replied on 08-03-2008, 10:59 AM
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I am thinking about debt settlement. How long after the debt is paid will it take my credit score to recover?



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Sub: #2
Replied on 08-03-2008, 11:53 AM
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Kristin, I'm not sure how long it will take for your score to fully recover, but I did answer your other post with some info for you. Hopefully, someone else we be able to give you additional advice!

Does that mean that you did find someone who can do debt settlement in your state?

Good luck!!

Anonymous
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Sub: #3 Credit Reapir
Replied on 07-01-2009, 07:42 AM
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If you settle your debt the your credit companies at a discount it will appear negatively on your credit report for seven years. If pay off your debt the standard way your credit gradually over a period of about two years.




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* Disclosures:
  • By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  • Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
  • Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  • Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  • The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
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