DansDeals Forum > Credit Cards And Finance

Received Debt Settlement Letter should I accept?

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Luvisrael:
Anyone have any tips and advice for this? How will this affect my credit etc. TIA!

ckmk47:

--- Quote from: Luvisrael on September 16, 2018, 01:22:28 PM ---Anyone have any tips and advice for this? How will this affect my credit etc. TIA!

--- End quote ---
Any debt 'forgiven' will count against you on your credit rating.
On the other hand, if you can't make your payments, getting rid of some debt can be a big help.
Good luck.

chbochur:

--- Quote from: Luvisrael on September 16, 2018, 01:22:28 PM ---Anyone have any tips and advice for this? How will this affect my credit etc. TIA!

--- End quote ---
Speak to someone who does credit repair. I believe it's best not to settle with them cause then you can't fix that on your credit report.

ExGingi:

--- Quote from: Luvisrael on September 16, 2018, 01:22:28 PM ---Anyone have any tips and advice for this? How will this affect my credit etc. TIA!

--- End quote ---

Settling debt will affect your credit. However, sometimes that's not too bad of an outcome if you have a significant amount of debt forgiven.

Impossible to give advice without the full picture. However, if you are inclined to settle, just look at the offer you got as a starting bargaining point.

Luvisrael:

--- Quote from: chbochur on September 16, 2018, 04:06:08 PM ---Speak to someone who does credit repair. I believe it's best not to settle with them cause then you can't fix that on your credit report.

--- End quote ---
do u know who I can speak to? Never dabbled in this before...

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