subject: Debt Settlement - Is Debt Negotiation Service Followed By A Credit Repair Service [print this page] Debt Settlement - Is Debt Negotiation Service Followed By A Credit Repair Service
A debt negotiation service is primarily based on getting the consumers out of the debt problem and completely eliminates their debt in a legally efficient manner. A credit repair service is the one which is provided to the consumers who have an affected and destroyed bad credit report. There are Certain creditors who might give you a negative credit rating during the debt settlement process or even after your debt is settled. Now, to deal with such situations or such creditors there are credit repair programs which guarantee to improve your credit score.
Some of creditors might not update your credit report which will affect your score too. Now, here the problem is that, if they ever sell the debt to collection agencies or buyers, you may face a hard or difficult time proving that you did had a legal agreement with your creditor on the debt amount and it was done that way. To avoid this situation in the future it is important to document every step and transaction you make or carry. If you have chosen a legitimate debt settlement company then this headache of improving your credit report and getting the debt line removed from that card is much easier. Credit repair after debt settlement program is important for people who are in a need to get back on their feet quickly after the debt stroke. it would be more beneficial for the person who is looking to get a mortgage or a car loan or a home loan which require them to improve their credit score.
It is also important for people to beware of credit repair after debt settlement scams. A very important fact to keep in mind is that only you can repair your credit by not falling behind on your payments again and by improving your spending habits.
