credit

Hi Chan

Welcome to the forums. debt consolidation program does not hurt the credit profile of an individual. It is designed in the best way to solve your current financial problems as its main objective is to make all your default payments current.

After your accounts are paid to the creditors in full, they will report it to the credit bureaus and you will be able to see improvements in your credit ratings.

As long as you are in the program, you are required to make regular payments because if you default in making the payments, it will have a bad impact in your credit report.

The creditors will come to know that you have taken the help of the debt consolidation program to ease your payment structure. Your credit report will show that you have faced financial problems in the recent past and you have taken active steps to mend it.

Also, through the debt consolidation program, the creditors will appreciate your payments because they find you taking this responsibility to clear off the past debt and acquire your credit worthiness. Though you were unable to pay the original amount, but you have definitely agreed for the reduced amount through this program. The consultant working in the debt consolidation program will make sure that you are provided the best of the credit ratings.

Debt consolidation program is the most widely accepted and successful program for clearing the unpaid accounts with the creditors and improving the credit profile. After all, it is your credit report that needs to be appear nicely which will evaluate your financial worthiness.

Regards
Roxette