This is a great question. Debt settlement programs may take up to five years depending on the amount of debt owed 申請債務舒緩. Most debt consolidation companies will allow you to set the terms on payments, if you want to pay more they will allow it but your payments will be higher.
Debt settlement should be considered a loan that should be paid off just like a home or a car loan. Once the debt is paid the bill is closed out and marked as paid in full. By using a debt settlement company you can increase your credit rating however by restructuring your debt this doesn’t mean you are erasing credit marks. These marks depending on the severity can last from 7-10 years on your credit file.
After completion of your debt consolidation which normally takes anywhere from 3-5 years’ you should have repaired your credit somewhat. Although credit scores can make you or break you’ in recent times consolidation has become a favorite for people in need of financial assistance or restructuring. Assets can be taken if the loan is secured however, for unsecured loans such as credit cards and personal loans there is no collateral. Credit card companies have been under scrutiny in recent years because of inflated fees and late charges. Because of this many consumers are driven deeper into debt. This hole can make debt settlement a never ending battle.
By the way, by researching and comparing the best debt settlement services [http://www.bestdebtsettlementservices.com] in the market, you will be able to determine the one that meets your specific financial situation. Nonetheless, it is advisable going with a trusted and reputable debt counselor before making any decision, this way you will save time through specialized advise coming from a seasoned debt advisor and money by getting better results in a shorter span of time.