Posted on
November 5, 2009
at
4:09 am
what would be the effect of debt settlement on my credit report, how is it going to appear there? am I going to have a hard time getting new credit or a job if a potential lender/landlord looks into my report?
Posted on
November 5, 2009
at
4:13 am
Effect of settlement on credit reportA settlement stays on your credit report for 7 years from the date the account was settled but it won't be on your public records, unlike bankruptcy.And I don't know about your second question, I think it's a case to case basis for some lenders/landlords, plus there are other information in your report.
Posted on
November 5, 2009
at
4:19 am
Effect of settlement on credit reportA debt settlement appears on the credit report as -"settled", "settled for less than the full balance", or "settled in full."
Posted on
November 8, 2009
at
6:53 pm
The effect of settlement on your credit report, in terms of creditor / lender feedback:They may respond in one of two ways: They may either deny you of credit, seeing that you were not able to take care of your debt, and think that you have too much debt to handle. On the opposite end of the spectrum, they may grant you credit, thinking that it's a good sign for you to take steps to get rid of your debt without filing for bankruptcy outright.
Posted on
February 12, 2010
at
6:08 am
The effect of settlement on your credit report ..is not that significant anymore (comparedto the previous years) - creditors/lenders reserve the right to judge your undergoing a settlement program (doing something about ur debt) as something positive or negative.But I think it's usually the former ... although it depends...
Posted on
February 12, 2010
at
6:09 am
A related question to this is what is the effect of settlement on your credit report in terms of credit score
Posted on
February 12, 2010
at
6:21 am
To answer that question, here's a breakdown of the FICO score: (the segments affected by the consumer's non-payment and payment are bolded):
-35% Payment History- 30% Amount Owed-15% Length of Credit History-10% New Credit-10% Types of Credit Used
Posted on
February 12, 2010
at
6:22 am
Oh..thank I see, thank you all for your replies, I appreciate this ... can you help me find a settlement company?
Posted on
February 12, 2010
at
6:32 am
Hi halfway gone, here's a guideline for you to follow: -The settlement company's program must have a fast completion time. 12-36 months.-The program must be able to protect and improve the consumer's credit standing.-Must be a member of the Better Business Bureau, BBB, for at least 5 years.-Must also have a good standing with the Chamber of Commerce-A Member of TASC - The Association Of Settlement Companies and the IAPDA or theInternational Association of Professional Debt Arbitrators
Posted on
February 12, 2010
at
6:38 am
If you're looking for a debt settlement company, you can also fill out a form here at destroydebt.com and youcould be matched up to the right company - free of charge.
