It's critical to repair credit with debt settlement. Most debtors don't understand this. The greatest concern that I hear from my clients is: "If I settle my debts with my creditors, I'm worried that my credit will get ruined".

I understand. The truth is, if you repair credit with debt settlement, your credit will only be temporary affected, not ruined. A quality debt settlement company that offers credit repair with debt settlement as part of their services should actually improve your credit- often times much better than it is now.

Besides, if you have an excessive amount of unsecured debt, your credit is already negatively affected-regardless if you make your payments on time. Whether it's true or not, lenders think that if a borrower has too much debt, they are having financial problems, and therefore they are too great a risk.

Consequently, the more debt you have, the lower your credit score will be.

In Order To Save The Most Amount Of Money, Focus On The Big Picture

I strongly recommend that you prioritize your situation. Your main focus should be on getting out of debt.

I have a question for you. What would you rather have: good credit now and be overwhelmed in debt for decades, or be completely debt-free and have a temporary low credit score? Don't say you want both good credit and be debt-free because unfortunately, that's not possible-yet.

For now, don't worry about your credit. Why would you want a good credit score at this time anyway? So you can add more debt and end up digging yourself in a deeper hole that you might not be able to get out of?

When a lender reviews an applicant's credit history, about 80% of the weight of his/her decision for loan approval is placed on the most recent two years of payment history. Very little emphasis is placed on payment history older than two years. That is why your credit will be only temporarily affected with debt settlement.

Credit scores are not etched in stone. There are many strategies and techniques that can be implemented to raise your credit score.

Once You're Debt-Free, Your Credit Score Will Soar!

Compare having too much credit card debt like filling a balloon with water- If you put a small amount of water in the balloon, no damage will be done. However, if you put too much water in the balloon, it will eventually burst, and as a result, the balloon will burst.

With debt negotiation, we are releasing the water from the balloon-one account at a time. Once your debt is eliminated, your credit score can start to rise. Then an emphasis can be placed on strategies that will raise your credit score.

Do you see why it's necessary to repair credit with debt settlement? Now that you have a second chance at a new beginning, it's only a matter of time before you have excellent credit!

Best wishes to you!

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