What about my credit score?
A Debt Relief Options™ Debt Reduction Plan may affect your credit score in several ways. Once you successfully complete the program, credit reporting agencies may report all of your accounts
that are enrolled in the program as "settled" with no outstanding balance, releasing you from all further obligations. Several other factors will also influence your credit score,
making it important to think about the long-term impact of the debt reduction plan and debt relief options available to you. In the short term, for example, the debt settlement
process may negatively impact your payment history. However, the impact may be negligible if you’ve already been late in making recent payments. Nevertheless, debt settlement
usually has a positive impact on another component that makes up your credit score: the amount you owe. By the time the debt settlement process ends, clients sometimes see their
credit score improve because they now have fewer outstanding debts or none at all. Both Debt Settlement and Debt Management usually affect your credit score to a lesser degree than
bankruptcy.
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