Posted on
September 30, 2009
at
12:31 am
what is the credit impact of debt settlement and how long would it take before my credit would go back to normal again? i want to know so i can rethink my options before enrolling my account in a debt settlement program. thanks!
Posted on
September 30, 2009
at
2:36 am
The credit impact of debt settlement varies depending on your current credit standing. In fact your credit standing also largely depends on what your credit report contains.
Posted on
September 30, 2009
at
5:43 am
If your credit score isn't very good, like at 600 or below the credit impact of debt settlement may be in the negative for a short period of time. However, if your accounts are either in collections or have charged-off, debt settlement may prove to do your credit good. After all, it is a method in paying off overdue accounts, and it will do greater effects on your credit in the long run.
Posted on
October 1, 2009
at
1:55 am
How about the credit impact of debt settlement if my credit score is higher?
Posted on
October 1, 2009
at
3:11 am
The credit impact of debt settlement if you have an average credit score may take a slight dip in the short term. However, it would be much easier for you to restore your credit to its previously "good" state if you opt for debt settlement, as opposed to being a customer with an already good score. Debt settlement will help eliminate that item on your credit report that drags down the rest of the entries.
