The Real Deal With Credit Card Debt Forgiveness Act of 2010

Although you have fully settled any amount left after the credit card debt forgiveness

, you have to remember that your credit standing will not increase. In fact, applying for credit card debt forgiveness will actually drag down your credit standing some 70 to 130 points down. This will remain in your record for the next seven years and will definitely hurt your chances at loan applications in the future. In the rare event that you qualify for a loan, chances are you will not be enjoying the same low rates that those with good credit standings have.

The Real Deal With Credit Card Debt Forgiveness Act of 2010

By: Erik Brillo

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