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The exact impact of a debt settlement on your credit score will depend on factors like the amount of debt. A debt settlement can stay on your credit report for seven years and your score could drop by more than 100 points.

Is Accredited Debt Relief Reputable? Accredited Debt Relief has an A+ rating with the Better Business Bureau and is a BBB-accredited company. Overall, Accredited Debt Relief reviews are positive on Trustpilot, with a rating of 4.9 out of 5.

It's better to pay off a debt in full (if you can) than settle. Summary: Ultimately, it's better to pay off a debt in full than settle. This will look better on your credit report and help you avoid a lawsuit. If you can't afford to pay off your debt fully, debt settlement is still a good option.

The consequences of settling debt may include a negative impact on your credit score due to the account being reported as ?settled? rather than ?paid in full,? possible tax implications on the forgiven portion of settled debt, accumulation of late fees and interest charges during the negotiation period, and potentially ...

Settling a debt will not increase your credit score, but it won't hurt it as much as not paying at all. Debt settlement is a good option if you are struggling to make ends meet and get back on track financially. You can end up saving money and put yourself in a position to improve your credit score in the long run.

Debt settlement is a risky way to reduce your debts. It will help you avoid bankruptcy, but depending on the settlement amount, you may be stuck paying extra taxes. And many debt settlement companies charge high fees and take years to fully negotiate your debts.

Yes, Accredited Debt Relief is a legitimate debt relief company. It's been in business for more than a decade, is accredited by the Better Business Bureau and American Association for Debt Resolution, and has overwhelmingly positive reviews from past clients.

Freedom Debt Relief is an accredited debt settlement company based in Arizona that offers consumers a way to eliminate their debt by reducing what they owe. The business has enrolled more the 850,000 consumers and resolved more than $15 billion in debt since 2002.