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Does Debt Relief Hurt Your Credit?

Credit Corp

As long as you stick to the minimum payments needed on all of your other credit accounts while you work to pay down your debt, this method has little immediate impact on your credit report and a reliably positive one in the long term. Counselors may offer free or low-cost consultations and educational materials.

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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. Debt Consolidation. Balance transfer credit cards. Debt consolidation loans.