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How does an agreement on a Chase credit card debt settlement offer affect your credit rating?
Wiki User
∙ 19y ago
A debt settlement offer has no bearing on your credit rating or score. It is only an offer, a proposal. Your credit rating is based on how you have paid the debt in the past 7-10 years. Your credit score is a numerical picture of your assessed risk as a borrower, based on the information in your file at the time the score is requested.
Wiki User
∙ 19y ago
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Is settlement good or bad on credit report?
Debt settlement is good for your credit rating. Just settle the debt and move on. Do not use a debt settlement company, ever.
Do unsecured loans affect your credit rating?
An Unsecured loan can very much affect your credit rating, but it depends on whether you pay it back and keep your promise. If not, your credit rating can severely drop and you will lose trust with your provider.
Will opening a new credit card affect your credit rating?
Yes. Any new credit account or loan will effect your rating.
If your spouse co-signs for someone will it affect your credit too?
No, your credit rating is separate from your spouse. If he or she cosigns it will only effect his or her credit rating.
Will being in debt affect your credit rating?
Not generally.
Is there a different affect on your credit if there is a consent judgment or a settlement order entered?
This answer depends on the procedures of the courts in your state. Generally, a judgment will be reported on your credit rating a will be a negative mark against. Instead, you can have a stipulation for settlement that keeps the case open and then the case is dismissed when the settlement has been fully paid.
Is settlement good or bad on credit report?
Debt settlement is good for your credit rating. Just settle the debt and move on. Do not use a debt settlement company, ever.
Do misdemeanors affect your credit?
Possessing a criminal record CAN affect your credit rating - but to what extent, is a confidential rationg factor the credit rating industry won't release.
Will opening a new credit card affect your credit rating?
Yes. Any new credit account or loan will effect your rating.
Do unsecured loans affect your credit rating?
An Unsecured loan can very much affect your credit rating, but it depends on whether you pay it back and keep your promise. If not, your credit rating can severely drop and you will lose trust with your provider.
Does it go against your credit rating if you get a settlement figure for a debt?
It would not have any immediate impact on your credit rating, a settlement figure is just a statement provided by your lender on the amount outstanding to clear the loan in full "To settle".
If your spouse co-signs for someone will it affect your credit too?
No, your credit rating is separate from your spouse. If he or she cosigns it will only effect his or her credit rating.
Will being in debt affect your credit rating?
Not generally.
Does your bad credit rating affect your children if they live at the same address?
no it does not affect your children's credit rating. credit score is based on how an individual uses credit, not on how other people uses credit. what possibly may happen is children may learn thier parent's bad credit habits. if a consumer needs a co-signer (parent) then if the parent has a bad credit rating that will affect the loan
How do repossessed cars affect your credit rating?
A car reposession will leave a major black spot on your credit rating for 7 years.
If you buy a house from someone who has declared bankruptcy how will it affect your credit rating?
==Answer == Not in any way. Your credit rating is only determined by how YOU handle your credit on anything that is in your name.
If you default on your pay day loan will that affect your credit?
Yes, if you default on any loan it will affect your credit rating negatively.
