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Does your debt hurt

Updated: 8/20/2019
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11y ago

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Debt can help or hurt you when applying for credit.

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11y ago
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Can you forget a debt a debt or have a debt forgiven and not have it hurt your credit?

When a debt is forgiven (a forgetadebt as you call it), it will be reported to the credit bureaus. But you will have less debt, which is a positive.


Will debt counseling hurt your credit?

Getting debt counseling is a good thing and shows your willingness to take care of your debt in a responsible way. If you are undergoing debt counseling, a notation to that effect may be appear on your credit report. This does not affect your credit score but how each creditor views this notation, differs from creditor to creditor. While it may seem unfair, there are some creditors who view debt counseling as a negative to your credit worthiness. In their view, the fact that you are in an unmanageable debt situation is not a good sign, unless you can convince them otherwise. So the reality is debt counseling may hurt your credit, depending on the subjectivity of the creditor.AnswerDebt counseling will never hurt your credit, since it is an educational activity. If you choose to enroll in a debt management program, that does not hurt your credit either. What could hurt your credit is closing any accounts that have substantial available credit. Other than that, your credit generally improves over the life of the debt management program.


How did several 18th Century wars hurt the French monarchy?

they left France deeply in debt


The amount of credit-card debt a person has?

The amount of credit card debt a person has may hurt them from receiving credit when they apply for loans. It is called debt to income ratio.


What did Ismail pasha do that hurt his country?

One of the main actions of Isma\'il Pasha, which hurt his country, was the increase of national debt.


Are debt consolidations bad for your credit score?

Yes, debt consolidations can be a negative factor on your credit reports. Though it is probably worth it to consolidate your debt rather than go deeper into debt, which will hurt your credit even more.


When should you close unused credit cards and will this hurt or help your credit score?

Usually closing accounts will hurt your score because if you have debt on other cards, your debt to available credit ratio will rise and it can ding your credit score.


Does retiring outstanding debt most likely hurt a firm's cash position?

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How did several century wars hurt french monarchy?

they left France deeply in debt


How did 18th century wars hurt the French monarchy?

they left France deeply in debt


How did several 18th-century wars hurt the French monarchy?

they left france deeply in debt


If you use MBNA Cleansweep for 10K debt but need a co-applicant can the co-applicant's credit be hurt?

Yes. The debt will appear on the co-applicant's credit reports