Debt settlement is an option to consider if you are deeply in debt. Debt settlement also known as debt negotiation can reduce debt by 40-60% of amount owed. Though debt settlement can help consumers when their debt has becomes unmanageable it can leave a short term negative credit impact.What is Credit Score?
A credit score in the high 700’s is considered a good score with 850 being a perfect score.
Debt Settlement and Your Credit Score:
A chapter 7 bankruptcy stays on your credit report for 10 years and chapter 13 bankruptcy stays on your credit report for 7 years. If you had a strong credit history before settlement, and your other debts are current your credit score will improve after the initial drop with debt settlement. Payment history accounts for 35% of your credit score.
Credit Card Settlement Credit Score
Hector Milla Editor of the “Credit Card Debt Free” website — — pointed out;
Further information about trusted and reputable companies for credit card debt settlement by visiting;