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How does an agreement on a Chase credit card debt settlement offer affect your credit rating?

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Answered 2005-03-11 15:09:29

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.

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