If using credit solutions, or any that reduce debt, does it have any accect on your credit score? bad mark?

Answer 1

If you are looking for credit counseling, check this site: http://www.nfcc.org/ . They are a legit non-profit company and offer free credit counseling. They also have debt management programs available, if you qualify, for no fee.

Most of the debt relief/counseling companies take their fees up front and trash your credit. Their favorite way to negotiate settlement is to not pay your creditor for several months and then threaten bankruptcy.

If you go into any kind of debt management program, it will affect your credit the same as bankruptcy until you complete the program.

Answer 2

Not really on your score but those companies some times get offers 4 you on your past accts which they make settlements on your behalf paying only half of what u owe. This is stated on credit report as pd less than orig amt .the good thing is that it is pd but moving forward new creditors will hesitate 2 offer new credit knowing u didn't pay last loans, etc hope this helps some. call creditors yourself and set up arrangements, instead of paying those people and sometimes all creditors don't get pd even though u send your pymts. alternatley u r still responsible n the end good luck