Settlement - Marks in credit report

Your credit score will drop while in the program. Once program is fully completed, your credit score will get better (hopefully better than it was before it got bogged down with all the credit cards!)

When you are using a settlement program, it will be reported in your credit file. The creditors will report the accounts as 'settled' with the bureaus. You can negotiate with them for a better rating and this is possible if you can pay off the debts you have with them with a good payment record. This is better than letting your accounts go delinquent. Unpaid accounts hurt the credit scores at the most.

Read the page below for a better understanding on the settlement program. If you have a huge debt and are unable to make the monthly payments at higher interest rates, many people choose the settlement program as an option. It works for many people looking at the individual situation and in the hopes of improving their credit.

http://www.debtconsolidationcare.com/debt-settlement.html

Remember too that settlement is better than bankruptcy. And your stress may be less knowing you can meet your new minimum and still have money left for unexpected things that always do come up. I know my stress level is better just knowing this is an option and that there is light at the end of the tunnel.