Damaged Credit

Hi Evette Jackson,

If you pay your debts through debt consolidation, the consultant working in the program will negotiate with your creditors to reduce the debt amount by removing all the financial charges, late fees and will try to erase all the negative marks from your credit report also.

Once your debt is paid, it will be indicated as paid in full in your credit file and you will achieve your credit worthiness.

But if your account is marked as ???Settled??? in the credit report, it means you had some problem to pay it back, which might be considered as a weakness.

To know more about the benefits of debt consolidation, you can see the following page ???
http://www.debtconsolidationcare.com/benefits.html

Regards
Bryan

Hi Evette

Always prefer that your account should be shown as "Paid in Full" or "Paid as Agreed" in your credit report.

If you are considering settlement of your accounts with your creditors, make sure that they do not report your accounts as "Settled" to the credit bureaus. This status might harm you in the long run when you are looking for new credit in the future.

Regards
Roxette