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Will Debt Relief Affect My Credit Rating? If So, How?

Debt Repair / Debt Consolidation

Aplus Legal Advice  |  2022.08.26 19:26  |  736 views

Debt relief will affect an individual’s credit rating. It is important to note that the more debt an individual has, the lower their credit score is likely to be. While debt relief can negatively affect an individual’s credit rating in the short-term, it is important to note that a person’s credit rating would almost always be much lower by holding on to their debt than by using the resources available within debt relief programs.



Why You May Need Credit Card Debt Consolidation

Debt Repair / Debt Consolidation

Aplus Legal Advice  |  2022.08.26 19:29  |  894 views

You find yourself in a situation of mounting credit card debt. You have 5 credit cards in your wallet and have been shopping more than you earn. Initially you had no problems managing your funds but it has started to snowball not too long ago. Your spending has been steadily increasing as you find it hard to curb your shopping habits. From being able to pay the full outstanding balances on your credit cards, you are paying the minimum sum each month. Your salary can barely cover your required minimum payments.



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