It would not have any immediate impact on your credit rating, a settlement figure is just a statement provided by your lender on the amount outstanding to clear the loan in full "To settle".
Debt settlement is good for your credit rating. Just settle the debt and move on. Do not use a debt settlement company, ever.
This answer depends on the procedures of the courts in your state. Generally, a judgment will be reported on your credit rating a will be a negative mark against. Instead, you can have a stipulation for settlement that keeps the case open and then the case is dismissed when the settlement has been fully paid.
A debt settlement offer has no bearing on your credit rating or score. It is only an offer, a proposal. Your credit rating is based on how you have paid the debt in the past 7-10 years. Your credit score is a numerical picture of your assessed risk as a borrower, based on the information in your file at the time the score is requested.
Depends on the particular situation. Normally figure on about 7 years before this dirty mark will get erased. This is why it is so very important to protect your credit rating - if one doesn't have the cash in the bank, then one should never charge anything on a credit card.
Collection agencies cannot restore your credit rating, all they can do is report if the debt was paid, or if a settlement was agreed upon. The credit reporting agencies are who you need to contact in order to get your credit rating restored, such as Experian and Equifax.
No, such activity only lowers your credit rating. It goes against your total indebtedness. Plus, if they default it can kill your credit rating and take years to remedy. Mark
The Clear Credit Corporation is a company that helps people improve their credit and maintain a good credit rating. The services they offer include the following: credit score optimization, credit restoration, debt settlement, and credit score consulting.
International Credit Rating Agency
Which among these is a credit rating ?
Bond credit rating is used to assess the credit worthiness of a corporation or government's debt issues. A bond credit rating is similar to a credit rating that an individual person receives.
a poor credit rating would be 0
A credit rating is a rating of how well a person pays their bills. If bills are paid on time the credit rating goes up.