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Debt Arbitration and credit rating

Date: Wed, 03/01/2006 - 12:48

Submitted by anonymous
on Wed, 03/01/2006 - 12:48

Posts: 202330 Credits: [Donate]

Total Replies: 4


How does debt arbitration affect you credit rating?


Debt arbitration is a process where a third party works as the mediator between two and helps to work out a suitable solution. Debt arbitration is the similar process where a third party stands in the middle of the debtor and the creditor and mainly reduces the amount of total outstanding debt.

Though it is better than unpaid account or charged-off, it still hurts credit. It will be better if you can avoid this entry to enter your credit file.

BTW, did you have arbitration in a near past? Could you explain a bit more about your situation?


lrhall41

Submitted by stanley on Wed, 03/01/2006 - 13:44

( Posts: 1639 | Credits: )