debt settlement

A settlement process will only start after you're behind your payments for at least 3 months. That means, your score has already been hit. A debt settlement can dent your credit score big time. But, if you can negotiate with your bank, they might report your account as 'Paid in Full' instead of 'Settled' to the credit bureaus after the settlement process.

A 'Paid as Settled' or 'Settled' notion on your account can stay up to 7 years in your credit report and you might be considered as a risky customer in future.

call 866-833-6398 they usually settle pre-litigation accounts for 20-25 cents on the dollar.

Hi OP,

I would rather advise you not to call the no. listed above.

If your credit score is dented, then debt settlement is the best option. If not, then you should look for other options too. Remember that settlements dent your score big time.

I agree with paulcahill80. If your credit score is already low and you can't currently make your payments, then that is probably the best option, but in this economy, especially with the new shift in credit score calculations, and your score is still at a good level, then you should probably explore every other avenue to correct the situation before you give in.

[URL="http://www.debttorights.com"][/URL]

Settle while they are willing! Your credit score will recover.