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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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โˆ™ 2005-03-11 15:09:29
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Credit and Debit Cards

20 cards

The law is derived from three main sources what are they

If there is an erroneous payment then

These funds last 5 years have limited use and cannot pay for new obligations

How do you know which transactions are awaiting your approval

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Credit and Debit Cards

21 cards

The law is derived from three main sources what are they

If there is an erroneous payment then

These funds last 5 years have limited use and cannot pay for new obligations

How do you know which transactions are awaiting your approval

See all cards

Math and Arithmetic

20 cards

Please Evaluate this algebra expression -4 -3

Joe borrowed 8000 dollars on a one year note at 13 percent how much will joe owe when the note comes due

How much time will a 500 investment need to earn 100 in interest at a rate of 10 percent per year

1000 dollars in a savings account pays 7 percent interest per year The interest earned after the first year is added to the account How much interest is earned on the new principal the following year

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

How does deferring a student loan affect credit rating?

Generally a student loan does not affect your credit rating

Is there a different affect on your credit if there is a consent judgment or a settlement order entered?

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.

Is settlement good or bad on credit report?

Debt settlement is good for your credit rating. Just settle the debt and move on. Do not use a debt settlement company, ever.

Do misdemeanors affect your credit?

Possessing a criminal record CAN affect your credit rating - but to what extent, is a confidential rationg factor the credit rating industry won't release.

Does it go against your credit rating if you get a settlement figure for a debt?

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".

Do unsecured loans affect your credit rating?

An Unsecured loan can very much affect your credit rating, but it depends on whether you pay it back and keep your promise. If not, your credit rating can severely drop and you will lose trust with your provider.

Will opening a new credit card affect your credit rating?

Yes. Any new credit account or loan will effect your rating.

If your spouse co-signs for someone will it affect your credit too?

No, your credit rating is separate from your spouse. If he or she cosigns it will only effect his or her credit rating.

Does a lien on your property affect your credit rating?

Yes, it will affect your credit. My sister had a lien and she could not get some credit she applied for because of it.

Does your bad credit rating affect your children if they live at the same address?

no it does not affect your children's credit rating. credit score is based on how an individual uses credit, not on how other people uses credit. what possibly may happen is children may learn thier parent's bad credit habits. if a consumer needs a co-signer (parent) then if the parent has a bad credit rating that will affect the loan

If you buy a house from someone who has declared bankruptcy how will it affect your credit rating?

==Answer == Not in any way. Your credit rating is only determined by how YOU handle your credit on anything that is in your name.

How do repossessed cars affect your credit rating?

A car reposession will leave a major black spot on your credit rating for 7 years.

If you default on your pay day loan will that affect your credit?

Yes, if you default on any loan it will affect your credit rating negatively.

Will being in debt affect your credit rating?

Not generally.

Is it possible for the colletion agency to restore my credit rating after negotiating for less than amount owed?

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.

How does using a credit card consolidation agency affect your credit rating and for how long does it affect it?

== == Look up this site:

If you and your fiance want to get a joint bank account but he has filed bankruptcy in the past will this affect your credit?

It shouldn't impact your credit rating all. However, his bankruptcy will remain on his credit for up to 10 years. If you get married and try to buy a home for example, then his credit rating will affect both of you.

If your credit rating is excellent will cancelling a store credit card after paying it off in full in the first billing cycle affect your credit rating?

Credit scores are calculated primarily on "Credit". After closing a you have "credit"? No. You HAD you don't. It certainly won't help your scores.

Does going overdrawn through no fault of your own affect your credit rating?

It should not affect your credit rating. Discuss the situation with your bank and have it changed and monitor your credit report. If you see an error, report it immediately. In the report, you will be able to issue a statement on why the account was overdrawn and it will be removed.

Would closing a credit card damage my credit score?

Yes closing a credit card can damage your credit score. But as long as everything else is good it should not affect you credit rating to much. Look for tips to keep a good credit card rating.

Will credit card fraud against you affect your credit score?

If you were a victim of credit card fraud your credit rating may is QUITE LIKELY to be affected.

How long does a voluntary repossession affect your credit rating?

7 years.

Will not paying cell phone bill affect credit rating?


My condo community has decided to put new siding on your homes and if I don't pay 5500 they will put a lien on my home. Will that affect my credit rating?

Yes, a lien on your title, which clouds it, becomes public record and can affect your credit rating.

What does the Clear Credit Corporation do?

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.