You may consider using debt settlement as a solution for your credit card debt unfortunately debt settlement can hurt your credit score the balance how will debt settlement affect my credit score menu search go go when you settle a debt thats on your credit report it can affect your credit. How will debt settlement affect my credit score a debt settlement remains on your credit report for seven years can negatively and positively affect your credit so you can pay off debt . Debt settlement lets you escape part of your debt but at a price to your credit score how debt settlement works how it affects credit scores creditcardscom card category. No it will not increase when you settle your accounts it will show as a settlement ie you didnt paywhat you owed anytime you settle your accounts your credit score drops in the short mid term over the long term years as long as you stay out of debt and rebuild credit it wont affect you either way but alwaystry to pay your accounts in full thats the best way to get good credit. How debt settlement affects your credit its important to know that your credit scores have already declined if youre at the point of resolving your credit card debt or other debt although this can be stressful your top priority should be to get out of debt and get your finances back on track ask your credit card company to report
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