If you are looking for a way to eliminate or settle your debt and search Google left and right, the large number of options that appear will make you feel overwhelmed and confused. ..
Should I settle my debt or should I try to remove the debt from my credit file with Credit Repair? Many companies will try to push their services without a clear understanding of what they are offering or doing for your credit.
Instead of wasting precious hours looking for the best options, I will break them down into details so you can quickly decide which one is right for you. The first step is to break down what "credit repair" and "debt settlement" are:
Credit repair is the process when you legally dispute something on your credit report with the three credit bureaus (Equifax, Experian, and TransUnion) or credit bureaus/collection agencies. and they will remove the account from your credit report.
Many methods can be used when arguing, such as the affirmative action or arguing the error of appeal. The type of account you are fighting and the results you want will help determine which one will work best.
Debt settlement comes when the creditor or collection agency agrees with your payment amount and in debt settlement, you agree to pay the debt. Paying off debt usually means you spend less than the entire balance on a direct payment or a payment agreement. If you don't pay or honor the contract, the debt collection agency/payer can cancel the contract and charge you various fees and penalties.
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