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Can debt settlement affect your credit positively?

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Posts: 1
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My friend Sylvia is thinking of opting for debt settlement through a settlement company. I told her that settlement can drop her credit score to some extent. She asked me then why should one opt for settlement? I don't have any answer. I'm wondering - can debt settlement affect your credit positively? if so, how?

Debt settlement helps you to settle your debt for pennies on dollars. As far as your credit score is concerned, it has already taken a dip from the time you’ve been missing your payments. Since you’re not paying the original bill amount, debt settlement won’t do any good to your credit score. However, it’s always better to settle your debts than keeping them unpaid.

Sub: #1 posted on Fri, 10/14/2016 - 02:33

Phil Bradford Phil Bradford

(Posts: 160 | Credits: 16.34)

Debt settlment is going to TANK your score major are not paying as agreed based on your original agreement.

Sub: #2 posted on Sat, 10/15/2016 - 00:58

Moderators Cum Industry Expert
(Posts: 17211 | Credits: 4746.38)

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