Does debt settlement affect your credit negatively?
Yes, quite often debt settlement will make your credit scores drop, at least during the months you are building your account for the debt negotiations.  However, consumer credit counseling, bankruptcy and most debt management programs will also damage your credit, but in most cases, consumers can get their credit to rebound quickly after debt settlement.  It is amazing what credit repair can do to rebuild your credit profile.

As soon as you have the ability, I recommend starting a savings plan. Saving even a little bit each pay-period enables you to stop using your credit cards for the unexpected expenses that can arise frequently. Saving is essential to grow your wealth and prevent consumer debt. Check with your bank to set up an automatic transfer to savings via payroll deduction or direct deposit.

Read the complete article > Debt Settlement Solution or Scam? The debt relief article was written by Jeff Morris from the US Debt Relief Firm.

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