Debt settlement is a proven effective means to eliminate debt for the right person.For a more detailed explanation of what debt settlement is and why it works read: Debt Settlement – Why Banks Do It – How It Works.

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Depending on how long you have been delinquent in payments, negotiating and settling credit card debts for good can have an overall positive influence on your credit score.

Access to new credit products can be easier obtained when you don’t have delinquent and outstanding debts.

If you are serious about settling debt, read through the entire CRN debt settlement guide and then call us at 800-939-8357 and choose ext. This way you can get a firm grip on the dollars and timing involved. Yes, debt settlement does damage your credit report, and will hurt your credit score.

Credit counseling and bankruptcy impair your credit report, credit rating and access to new credit products too.

While the below debt settlement Q&A is substantial and a must read before considering debt negotiation, enrolling in a credit counseling program, consolidating debt, or whether to try to avoid bankruptcy, it is by no means exhaustive.

There are links at the end of some of the answers that will provide greater and often necessary details.

Debt settlement is often referred to as a debt resolution and debt negotiation.

There are places online where you may see settling debt referred to as a form of debt consolidation, but it is nothing like consolidating credit card debt (using the most common definition of taking out a lower interest loan to pay off all of your higher interest credit cards).

To get direct answers to your debt settlement questions for free, call me at 800-939-8357, and choose option 2.

Debt settlement is what happens when you reduce the amount of your unsecured debts through direct creditor negotiations.

Then again, you just may not know what you need to about the process of debt settlement.