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Hey guys
I've been looking around and I see pros and cons to doing debt settlement. I've heard some cases where the creditors will file late payments. Question: How long doe it take for late payments to fall off your credit report? Also, I read this blog: iclosem.wordpress.com and the author does a good job of breaking down the pros and cons but does working with an attorney based debt settlement company make a difference? Any input from you guys would be GREATLY appreciated!




Whether you do debt settlement through an attorney or through a debt settlement company or on your own, it will affect your credit. If you are unable to keep caught up on your bills and you stop paying them, then after three or four months, the credit card companies will probably start offering to settle the balance for less than the full amount due.

I THINK late payments stay on your credit report for seven and a half years, but hopefully someone else knows for sure.

Sub: #1 posted on Fri, 08/15/2008 - 16:00

alias1958 alias1958

(Posts: 1230 | Credits: 79.88)

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