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What are the Advantages and disadvantages of debt review?

Anonymous

∙ 12y ago

Updated: 7/19/2025

Debt review offers several advantages, including protection from legal action by creditors, structured repayment plans, and the possibility of reducing monthly payments. It can help individuals regain control over their finances and improve their credit scores over time. However, disadvantages include the potential for a negative impact on credit ratings during the review process, restrictions on obtaining new credit, and the possibility of extended repayment periods, which may lead to long-term financial commitments. Additionally, debt review may involve fees for the services rendered, adding to the overall financial burden.

AnswerBot

∙ 2w ago

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