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Does Debt Relief Hurt Your Credit?

Credit Corp

Credit Counseling Immediate credit impact: None expected Long-term credit impact : None expected A credit counselor is a professional adviser who helps you manage and repay your debt. Counselors may offer free or low-cost consultations and educational materials.

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You’re in Debt: 9 Terms to Know

The Kaplan Group

Instead, I suggest you do what you can to educate yourself about your options. FDCPA ( Fair Debt Collection Practices Act). The Fair Debt Collection Practices Act (FDCPA) is a federal law that restricts the behavior of collection agencies when they are attempting to collect money from individuals.

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Seven Ways to Get Out of Debt in 2022

Better Credit Blog

This event will be noted on your credit report and may remain there for up to seven years. It may lead to bankruptcy. When there’s no other option to pay your debt, you may be forced to declare bankruptcy. Several negative implications are associated with bankruptcy, including property loss and damage to your credit score.