| What happens to my credit? |
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| Once you complete the program, your settled accounts are reported to the credit bureaus as “paid for less than the full amount” and your credit may suffer a temporary negative effect. However, your willingness to pay off your debt looks more favorable to lenders than if you were to declare bankruptcy or default on the payment. Another benefit of debt settlement is that it can ultimately improve your debt-to-income ratio, which is a component of your credit score. |
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