Got a question from a client, and they wanted to know how settling their debt would effect their credit. In this video we compare it to bankruptcy, a consumer proposal, and credit counselling.
How does debt negotiation effect my credit?
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Credit, Debt, effect, Negotiation
- Categories: Debt Review
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Are there any US American companies you would suggest?
Thanks so much for the video! To be clear, if you have a credit card that is charged off- will it hurt my credit to settle the balance to a lower amount or since it’s already hit my credit report then will settling help my score?
Are u located in Canada
I made arrangements with a credit debt solutions company.. but for 6 months my creditor kept on calling me .then I received collection letters from the creditors that this company was suppose to deal with. So I called my bank and put a stop payment on them. Immediately after that my creditors stopped calling me. Maybe after all they got to negotiate with them? The thing is…I don't trust this company anymore… they took 1200 from my account (6 monthly parents of 200)…but is it normal they take so long? Should I let them keep taking the payments from my account? Please help me!!?????
It should be "affect" in the video title; but well done and thank you for posting this!
“ you’ve been lied to”….so YOURE supposed to tell me the truth?…cmon, people are stupid.
Is making an offer to a credit card company on my own going to harm my credit rating? I am selling my house and will be able to make a lump sum payment, but if I can pay less than the current balance, I would be happier.
Solar paneling Richard, put them on your house.
do you have to close your accounts when you settle? If so, then your credit limit would no longer exist and thus lower your score, do I have that correct?
so if somebody owes let's say about 3,000 in interest on their credit card. I don't know what the minimum payment is
or what the credit limit is. let's say that the recent payment was 800.00 . how do you think the credit report looks
from all 3 trans union, equafax and Experian? what credit score do you think the person would have?