happy-elementor-addons domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/wp-includes/functions.php on line 6114premium-addons-for-elementor domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/wp-includes/functions.php on line 6114wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/wp-includes/functions.php on line 6114
Everyone struggling with large amounts of debt has to deal with bad credit. If you’ve experienced, this, then you know that bad credit can significantly affect your life, coming up anytime a credit score is run on you, such as when you are applying for a job or a loan. Despite what you may hear, the only real way to repair credit is to pay off your outstanding balances. The method used for calculating your credit score is described below.
There are five factors used in credit scoring calculations that determine your overall credit score:
Previous Credit Performance (Payment History): 35% Creditors want to know what your payment history is like: have you paid everything on time, are you late on anything now, and so on. Although this is only one part of what is used to determine your credit score, it is very important and carries more weight than any other individual section. A good payment history will have an excellent effect on your credit score.
Current Level of Indebtedness (Amount Owed): 30% Creditors have to consider how much debt is too much, and whether or not the borrower can pay a new creditor and still afford to pay his other bills. Having available credit can actually help your ratio of debt to available credit.
Amount of Time Credit Has Been in Use (Length of Credit): 15% In general, the longer your credit history the better your credit score. However, this is only 15% of the total score, so even those with a short credit history can still have good credit scores if they do well in the other areas.
Pursuit of New Credit: 10% Each time someone runs a credit check on you, it creates an inquiry. If these build up they begin to lower your credit score. Credit is becoming increasingly popular and available through online and mail services. Be careful about pursuing too many kinds of new credit.
Types of Credit Experience: 10% Because this score is only 10% of the total, it is not generally a key factor in determining your credit score. However, it is not a good idea to open different types of accounts just to try and make this factor better as doing so will likely reduce your scores in other areas.
Debt Settlement Debt Negotiation works by negotiating the balance owed on your unsecured debt so the amount paid is less than owed. We design an affordable monthly savings plan and your savings are used to obtain a deal from your creditors.
Most likely, yes. Any time you are behind, with or without a program, you will receive calls. However, many creditors are accommodating. Additionally, calls may reduce after the original creditor receives a detailed hardship letter from you.
Debt Settlement or Debt Negotiations effect on your credit score will depend on your current credit status before starting any settlement program. Very few people with debt problems have perfect credit and debt settlement is meant to be a hardship program.
We are the Debt Rx and are one of the longest operating Debt Settlement and Debt Negotiation firms in America. We are not the largest, because our focus has been more on personal attention and service of existing clients than that of enrolling new ones.
We are Debt Rx and are one of the longest operating Debt Settlement and Debt Negotiation firms in America. We operate across most of the 50 states.
* Clients that are able to stay with our services and make the monthly program payments generally experience a 50% reduction of their enrolled balance before fees, or approximately a 29% reduction after payment of fees over a 24-48 month period. Individual results may vary based on ability to save sufficient funds and complete the program, the creditors in your individual portfolio, and amount of debt enrolled. Statements made are examples of past performance and are not intended to be a guarantee that your debt balances will be lowered by a specific amount or percentage, that you will be debt free within a specific time period, or a guarantee of future settlement results. We guarantee we will not receive any fees until the terms of your debt have been altered with one or more of your creditors. While our programs work aggressively to reduce your debt balances, creditors are under no contractual obligation to negotiate or accept settlement offers. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice and we do not provide credit repair services. Please contact a tax professional to discuss tax consequences of debt settlement. By providing your contact information, you agree to receive return telephone calls, emails or other communications from us and/or our affiliates and expressly waive any Do Not Call preference or registration. Photographs used are not actual clients. We are not affiliated with MSNBC, Fox, or CBS and logos used are registered trademarks of their respective owners. Legal requirement: Licensed by the Virginia State Corporation Commission, license number DSP-14. Programs not available in all states. Read and understand all program materials prior to your enrollment.
