subject: Eliminate Debt Without Hurting Credit - Debt Consolidation Programs [print this page] Eliminate Debt Without Hurting Credit - Debt Consolidation Programs
There are many programs in the financial niche currently that are used for helping individuals with their credit rating no matter what score they have.
Whether the individual has a very high rating above seven hundred or even a poor one in the four hundreds there is a way to help them manage their credit and their debts.
Aurora Lillo Editor of the "Best Debt Consolidation Companies" website -- http://www.BestDebtConsolidationCompanies.net -- pointed out;
"...Many individuals mistake the concept of a debt consolidation program. They believe it is only for poor individuals or people who are bad at keeping their promises in regards to repaying debts. This is far from the truth. In reality consolidation programs are available for all manner of people. These programs are designed to take several accounts that a debtor owes and turn them into one single account. This is a useful tool for anyone whether they are a poor laid off construction worked living off of their insurance for the moment or a high-end corporate executive with a credit score around eight hundred..."
When an individual has many outstanding debts, currently in good standing or in arrears does not matter, they will often find it to be a struggle to pay them all. This is true even when the individual has ample money to make these payments. It only takes one slip-up and an excellent credit score can drop several points. These slip-ups usually come in the form of a missed payment, or one that arrived late for some reason. The shear number of accounts to keep track of can be a burden on anyone. In this regard debt consolidation programs are the best method available for removing financial stress.
There are some that cite the fact that debt consolidation can actually hurt a credit rating. While in some instances this is true, it is not always the case. The manner in which the consolidation process occurs is the determining factor on how it reflects on an individual's report. For instance, settlement services for negotiating the amount of money owed can be very helpful for lowering debts. However, debt settlements actually lower a credit score for a short time.
"...Despite the naysayers that cite this fact there is little to worry about in this regard. An individual's credit report tends to fluctuate throughout the month anyway. With all of these previous debts paid in full the individual will be free to continue improving their credit rating. In short order, the individual will be able to eliminate debt without hurting their credit due to their consolidation program of choice. It is actually quite common to see an individual's credit score actually increase between thirty five and a hundred points within the month that they consolidate their accounts..." added A. Lillo.
Further information about trusted and reputable companies for debt consolidation by visiting; http://www.BestDebtConsolidationCompanies.net
