pros and cons to settlement
Date: Thu, 10/07/2010 - 10:51
If I attempt debt settlement for a $5,000 credit card debt, will it adversely affect my credit score? We might have to sell our house and I don't want to do anything that will come back to be to my detrement later. Thanks.
Yes. Settlement will lower your score as you'll be settling the
Yes. Settlement will lower your score as you'll be settling the debt for less than the amount owed and, you an usually only do that when you are behind in payments.
Settlements will tank your score big time. But, if your credit s
Settlements will tank your score big time. But, if your credit score is already in the dump, then settlement is the best option.
If you go for debt settlement, your credit score will get a hit
If you go for debt settlement, your credit score will get a hit as you'll paying less than the outstanding balance.
yes but a lot less detrimental than bankruptcy. 2 years vs. 7
yes but a lot less detrimental than bankruptcy.
2 years vs. 7