Many professional debt reduction services will tell you that your credit score won't be harmed while enduring debt relief with their service. But, this is not true and any company that tells you this is not being honest.
US Debt Reduction discloses the truth before enrolling a client, and the truth is: while enrolled in any credit card hardship program including debt settlement, your credit score will temporarily decline.
On a better note, once your credit card debt, and unsecured debt is settled for less, your credit score will begin to increase once again. It's important to compare your credit improvement options, especially if your starting to sink further in debt.
Did you know 35% of your FICO score is based off of your debt to income ratio, that's why credit improvement starts by eliminating your credit card debt. Its extremely hard to improve a credit rating if your having a hard time making minimum payments, every late payment counts as a strike against you. Ultimately your debt to income ratio is a large determining factor when scoring your credit, and the only way to improve your debt to income ratio is to eliminate your debt.
Generally speaking, the sooner you payoff the pile of debt you've accumulated, the sooner your credit score will increase. stop your search for quick fix credit repair, and focus on the source of the problem. If you concentrate your energy on paying off existent debt now your long term credit stance will surely improve.
If you need assistance paying off your debt for a less than owed amount then contact US Debt Reduction, we are a fully operational debt settlement, and interest rate reduction / debt reduction company. We have a 0 complaint record with the BBB, and we provide both excellent customer service, as well as simplistic debt settlement solutions that work. Our client retention rate is higher than most, meaning the larger portion of our clients stay with us until their debt is gone. Why? Because we inform our customers every step of the way, and render diligent results.
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