These debt relief programs don’t have a negative impact on your credit but may limit your credit options for their durations.
Bankruptcy: This should be a last resort as it negatively affects your credit for many years.
Accredited Debt Relief is an affiliate and offers the same programs.
Debt consolidation is worth looking at if you have at least ,500 of debt.
These programs take around two to four years to complete and negatively influence your credit.
Most often, the required collateral is a second mortgage or a home equity line of credit.
This is incredibly risky because if you cannot meet your payments, your home is on the line.
Furthermore, if you have bad credit, debt consolidation loans may come with high interest rates.
In addition to putting your home at risk, many consumers end up prolonging their debt.
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Additionally, the debt management company contacts your creditors and attempts to negotiate lower interest rates on your behalf.