If I decide to use a debt settlement company to he

If I decide to use a debt settlement company to help me with paying off my bills does this process have a negative effect on my credit?

3 Answers

Soaplady is right. It would be better for you to settle your debts on your own. Look at this page to know the steps of doing it yourself:
http://www.debtconsolidationcare.com/steps.html


Yes, debt settlement will have a negative impact upon your credit score. It will drop your credit score by  70-125 points.


Do NOT waste your money on a debt settlement company.   Do it yourself!!  All it takes is a little research!

Of course it is going to affect your credit.  Any time you are not paying as agreed or the full balance, your credit is going to tank.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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