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It is recommended that you pay an old debt through the original creditor. Credit settlement companies are out to make a profit and they will negotiate terms that are not true. Also, it is possible that you can pay the settlement company but still owe the original creditor. It has happened to me. The negative information reported by the credit card settlement company will affect your score negatively.
What else can I help you with?
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.
What point can you request a settlement on credit card debt?
Settlement usually occurs when the account is past due and has been closed. You can either try to settle with the credit card company, or the debt collector that the credit company sold the account to.
What does a credit card debt settlement work and how does it affect my credit?
Usually, they contact the cc company. Negotiate a lower rate. You pay the settlement company directly instead of the cc company. The effect varies depending on the cc company and the credit report company. It may say that the account is in some type of deliquency despite the fact that you are paying it off. It may just say the account is closed and show your balance (which still lowers your score because it increases your debt to credit ratio since you have a balance despite no credit available.) It won't be horrible on your report though. You can still have good credit despite doing this.
What are the specifics of credit card debt settlement?
You should get a hold of a debt consolidator who will then go to bat for you with your credit card companies. They will work out a settlement that can be agreed upon by both the credit card company and yourself.
How do judgements affect your credit score?
It can affect you dramatically. Make sure that you set up either a settlement of payment plan.
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.
What point can you request a settlement on credit card debt?
Settlement usually occurs when the account is past due and has been closed. You can either try to settle with the credit card company, or the debt collector that the credit company sold the account to.
Does working out a payment plan with your credit card company affect your credit score?
It shouldn't - because working out a payment plan shows that, even though you're in financial difficulty, you're still willing to settle your account.
What does a credit card debt settlement work and how does it affect my credit?
Usually, they contact the cc company. Negotiate a lower rate. You pay the settlement company directly instead of the cc company. The effect varies depending on the cc company and the credit report company. It may say that the account is in some type of deliquency despite the fact that you are paying it off. It may just say the account is closed and show your balance (which still lowers your score because it increases your debt to credit ratio since you have a balance despite no credit available.) It won't be horrible on your report though. You can still have good credit despite doing this.
What happens if the credit card company won't except a settlement?
Whatcanidoifacreditorwontexcept my settlementandsuesme
What are the specifics of credit card debt settlement?
You should get a hold of a debt consolidator who will then go to bat for you with your credit card companies. They will work out a settlement that can be agreed upon by both the credit card company and yourself.
Does a company credit when the company is the accounts payable and the card was issued by the company for business expenses affect your personal credit score?
If none of your legal information is attached to the card (SSN for example) then the answer is No it will not affect your presonal credit score.
Will an employee's bad credit affect whether they can get a company credit card?
Yes.
How do judgements affect your credit score?
It can affect you dramatically. Make sure that you set up either a settlement of payment plan.
Does a out of court settlement effect your credit?
An out-of-court settlement itself typically does not directly affect your credit score, as it is not reported to credit bureaus like a loan default or bankruptcy would be. However, if the settlement involves unpaid debts that are reported as settled or charged off, it may impact your credit report. Additionally, if you were sued and a judgment was entered against you, that could negatively affect your credit. Always check your credit report for any entries related to settlements to understand their impact.
Where can one find information about a debt settlement service?
If one has credit card debt, one can contact the credit card company and inquire about debt settlement services, Otherwise, one can go to the government website consumerfinance.
How can one go about starting a credit card debt settlement?
You need to get in contact with your credit card company and make an agreement on how you are going to pay back your debts. The cost to doing a credits card debt settlement is that you end up with a very bad credit score.
