The 4 Worst Things You Can Do For Your Credit

Bad credit will affect many aspects of your life.  Some people spend a lifetime building and repairing their credit.  The best fix for bad credit is to avoid taking on too much debt.  However, if  you have credit issues, at some point, you have to stop the bleeding.  The four WORST things you can do regarding your credit situation are outlined below:

1. NOTHING - You live with the consequences of doing nothing and the issues are always on your mind.
   
   
2. BANKRUPTCY - More difficult today as new laws favor creditors and your credit is stigmatized for at least 7 years and up to 10 years.
   
   
3. DEBT CONSOLIDATION - Even if you are current on your payments, this option is reported to the credit agencies stating you are not able to handle your financial affairs.  Once completed, your credit worthiness is called into question and is often considered as serious as a bankruptcy.  Debt consolidation often stigmatizes your credit report for 7 to 10 years while often not saving you money. Additionally, many of the consolidation firms are nothing more than credit card companies disguising their attempts at debt collection.
   
   
4. DEBT COUNSELING - Like Debt Consolidation, this option reflects negatively on your credit report and states you are unable to conduct your own financial affairs.  Your credit worthiness has a negative 7 to 10 year stain and again, it is common for credit card companies to disguise their collection techniques.

What makes Debt Settlement a better option?

DEBT SETTLEMENT AND DEBT NEGOTIATION will never be mistaken for a gold star on your credit history. However, it does have several advantages.  You save a significant amount of money, and we do not report to the credit agencies.  Many of our clients are able to re-establish themselves in 6 to 18 months after their programs have been completed.   Since our activities are never reported to any credit reporting agency, you maintain the ability to handle your own financial affairs.