Debt settlements can get your credit back one track immediately!
Did you know, paying off a debt with a collection company can affect your credit in a negative way, by adding more time on your credit reports. Yes, you read this correctly.
Usually an account listed on your credit report has a timeline of 7 years from the date of the last payment made to the original creditor, however when you pay the collection company you actually add a new timeline of 7 more years on your credit report. The new timeline begins again from the date you pay the collection company.
By having us settle your debts for you, we work on your behalf to get the account completely removed from all three of your credit reports, so your credit score will improve.
Your Life Under Construction will work with your creditors to settle your account for less than the original debt owed.
We are happy to say that 90% of debts we have settled for our clients have been settled for just 10 percent of the original debt owed. Which means, if you have an account on your credit reports that shows you owe $500.00. We can work to remove this account from your credit file completely for just $50.00.
Settling with your original creditor can help, or hurt your credit?
If you settle with your original creditors yourself you lose out on the benefit of having the account completely removed. This means, the negative account will remain on your credit report, affecting your credit score for an additional 7 years.
At what time is it best to settle with my creditors?
Once you are a client of Your Life Under Construction, we will advise you of your options. We will inform you of the laws regarding certain accounts you may have, and advise you if you need to settle from there.
