subject: Debt Relief and Your Credit [print this page] One of the most important considerations that consumers with debt problems face is the effect that various debt solutions will have on their credit. Most of us have worked long and hard to build and maintain our credit scores, and sacrificing the strength of our credit in pursuit of debt relief is a tradeoff that many find to be simply unacceptable. The good news is that there is a potent debt solution available for unsecured debt problems, such as high interest credit card debt, and utilizing its benefits will have absolutely no effect at all on your credit score. It is a well balanced solution and is a responsible way to eliminate credit card debt.
Credit counseling is a debt solution that can clear a path for you to get control over your finances and eliminate your debt problem. Consumers will receive expert financial counseling and a thorough analysis of their financial situation. If it is then determined that their particular circumstances would benefit, they can enroll in a debt management plan (DMP) which will put in place a number of benefits that will help them get relief from their debt problem. Included in a DMP are such benefits as reduced interest rates, relief from collection phone calls, payoff schedules of just 5 years or less and a consolidated monthly payment. And all these benefits and more can be accessed without any credit score damage taking place. By getting in a touch with a debt professional, you can quickly find out if a DMP can be your answer to getting free from your unsecured debt.
