Debt
Date: Tue, 02/23/2010 - 18:37
Will negotiating my debt destroy my credit?
Quote:Originally Posted by AnonymousWill negotiating my debt des
Quote:
Originally Posted by Anonymous Will negotiating my debt destroy my credit? |
Please elaborate your query.
Nothing can destroy your credit more than unmanageable debt.
How much debt do you have? Are you still current on your loans?
Yes, it will be kind of you, if you can particularize the query
Yes, it will be kind of you, if you can particularize the query a bit. As far as my knowledge is concerned debt negotiation is not a kind or form of bankruptcy so it does not ruin or affect your credit permanently.
If you go through a negotiation plan, once you start paying your debt, the credit score will start to recondition. Your credit score will boost up once you start paying off the high balances and bring the bills current. Moreover, your credit score will be determined on the basis of your past payment history.
info to help & info to know
Quote:
Originally Posted by Anonymous Will negotiating my debt destroy my credit? |
if youre already late it can only make it better, if youre not late it will lower your score.
in order to settle you must be late usually around 120 late to really save some money.